European shares opened lower Friday, risk aversion intensified significantly after Fitch downgraded Greece Moody's and that of several Spanish banks.
At 9:02, the CAC 40 index, which lost 1.2% Thursday, yields 0.74% to 2989.85 points.
The London Stock Exchange drops 0.88%, the Frankfurt up 0.9% and 2.02% fall of Madrid. The pan-European Euro Stoxx 50 index fell by 1.03%.
Fitch Ratings downgraded the sovereign rating Thursday of Greece "B-" to "CCC", citing the growing risk of the country leaving the eurozone.
Moody's lowered the rating Thursday from 16 Spanish banks, including Santander SAN.MC, the largest in the euro area, suggesting the reduced capacity of the Spanish State to provide financial support to ; more of them.
The Stoxx European banks index was down 1.56%.
Illustrating the renewed risk aversion of investors, the 10-year rate of borrowing has fallen under German 1.4%, against 1.43% the day before closing.
On the foreign exchange market, the euro continues to trade at less than $ 1.27, to 1.2660 dollar.
The German finance minister, Wolfgang Schäuble, however, considered that the current turmoil in financial markets should subside within one to two years.
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Atos confirmed Wednesday all its annual targets after completing the first quarter organic growth of 2.4% of its turnover, driven by outsourcing, Germany and UK.
The computer services company, whose main competitors are Accenture and Capgemini, confirms this year include a slight organic growth of its turnover from the level proforma 2011 and is operating margin 6.5% compared to 4.8% on a proforma basis in 2011.
"We have confirmation now for three quarters as Germany, Eastern Europe, Central and Northern and the United Kingdom are now vehicles for growth, and continue to register a level 'satisfactory business, "said Gilles joined, executive vice president of Atos, during a conference call.
He told Reuters an acceleration of the group's organic growth in the second half compared to the first. He stressed the unfavorable comparative weighing of the second quarter, which has more public holidays in 2011.
The group achieved first quarter sales of 2.163 million euros, driven by organic growth of 3.9% of its center outsourcing (IT outsourcing) representing 45% of the activity.
Growth in Germany and the UK, its two largest markets, are also more than offset declines in the Benelux and France, which however had a recovery "in step".
Accenture has on his side out at the end of March a good resistance to its business in Europe.
Closely watched indicator, the ratio of new orders to billings (book-to-bill) stood at 107%, with a backlog of 14.5 billion euros at March 31, or 1.7 year of sales.
Gilles joined Atos has also stated its continued "close discussions" with Thales and Orange, the social project of "cloud computing" was approved Friday by the French government.
He said this could be done via Canopy, the partnership announced in February with the U.S. EMC and VMware in this activity.
"Cloud computing" ("cloud") is to store data in supercomputers called servers, grouped by hundreds of thousands in large premises belonging mostly to large IT groups.
WORLDLINE CRUCIAL FOR ATOS
Gilles joined also wishes to continue developing its cluster electronic payments and secure transactions, which includes Atos Worldline.
Rumors had been circulating there for ten days on this division following a note from Morgan Stanley essentially assuming that the integration of SIS, the IT division acquired from Siemens, promised to die pledge more synergies.
Gilles joined observed that these were "comments outside the company."
Atos Worldline is a "major division" Atos, which will help the group reach its operating margin target of 7% to 8% by 2013, he said.
"We are a management that is not dogmatic," but added Gilles joined. "It is our duty by definition never exclude any option that could accelerate and support the further development of this activity in our company."
Atos also aims to achieve a cash flow of around 250 million euros in 2012, against 194 million in 2011 to support an increase in operating margin and a tighter control of investment and working capital needs.
The action Atos closed Tuesday down 1.57% to 20.04 euros, giving a market capitalization of 3.69 billion. She has returned 30% since the beginning of the year.
The car wipes the biggest decline on Tuesday sectoral European markets, affected by fears of a slowdown in sales growth in Russia and China.
At 11:15, the European Index of automotive values lost 4.1%, falling from 4.98% to 5.45% of Daimler and Continental. In Paris, PSA yielded 3.6% to 13.265 Euro, Renault 3.72% to 40.010 euros, Faurecia 3.48% to 21.895 and 39.735% to 4.63 Valeo.
According to Deputy Minister of Industry and Trade Minister, Alexei Rakhmanov, auto sales are expected to increase only 6% in Russia this year to 2.8 million units, down sharply from to 23% increase over the period January / February.
Traders also refer to statements reported in the press, an official of the China Association of Automobile Manufacturers that growth of sales in China would be less than the 2012 target set by the association because of slower growth.
"People are afraid from these statements. But for me, it's not a real concern, the prospects in China remain excellent medium term "said an analyst
. Despite this decline, the automotive sector index still shows a 28% increase since the beginning of the year. Renault and Peugeot won 48% 43% over the same pe period
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The U.S. economy created 734,000 jobs in three months and over a million in five months. As a result, experts are beginning to revise their growth forecasts upwards.
Once again the United States are surprisingly dynamic. They experienced in the month of February a new massive hiring, confirming the scenario of a widespread economic recovery. The government says the country has indeed created 227,000 more jobs than it removed in February, which is higher than the net balance of 206,000 that gave the median forecast of analysts. The net job creation is well above 200,000 for the third consecutive month.
The hiring of January have not enough to lower unemployment, which remained at 8.3%, its lowest level for three years, according to official figures released Friday in Washington.
In theory, the strength of job creation should lead to lower unemployment. This has not occurred because the labor force increased as much (0.3% compared to January) that the number of employed persons, according to government figures.
However, unlike previous upturns, the number of hours worked across the Atlantic is recovering strongly. This number of hours has already recovered its pre-crisis level and will continue to climb, because the stock of workers who say they work part time for economic reasons will melt slowly. "The expert consensus expects U.S. growth between 2 and 2.5% for the next three years. However, the U.S. will probably a little better ", the experts conclude Deutsche Bank
. The Ministry figures show that in February, employment grew in all sectors except retail trade, construction and public service. In the latter, job losses, which are the norm for over a year , have slowed considerably since there were only 6,000 per month from December to February, against more than 20,000 from September to November. The employment report further states that the average hourly wage increased 0.1% from January to 23.31 dollars. On a year, says the Ministry, the increase in hourly wages was 1.9% which remains below its most recent measurement of the inflation (2.9% yoy in January)
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Unreachable contacts, website saturated … There is progress to be done to improve relations between the French and the taxman, a detailed report of the Court of Auditors published this morning. The fight against tax evasion has allowed the state to recover 16 billion euros in 2010
This is not true love … Certainly, the relationship between taxpayer and tax authorities have benefited greatly from the French way in the early 2000s [click here to read the report] to fiscal management user-centered, with a delay of ten years many countries, but Significant progress is needed, said Tuesday the Court of Auditors. "Search the support of the majority of taxpayers can better than punitive measures, to optimize the yield of the tax," said the Court of Auditors a report on the "relations of the General Directorate of Public Finance with taxpayers ".
By the late 1990s still prevailed in France the traditional view of fiscal management focused on the needs of the administration user and password only met ten years ago still reluctance among tax officials, "fed a a regal culture, "remarked the court. But since the late 1980s, the view of external actors was already in many developed countries a central position.
Bad reception on the phone
A service offering more extensive telephone, internet desk, physical reception, email, mail, online payment, monthly payment, etc., has led to "remarkable progress in relations with the taxpayer," welcomes the Court, but added "significant room for improvement exist." It then lists the number of breaches including telephone reception, called "black spot" "to rethink a whole", contact mode the most criticized by users and administration.
As for the one-stop shop for the determination of the assessment and collection of taxes, he suffers with regard to SMEs lack information on the satisfaction of these companies. For individuals, there is "strong disparities in the quality of service" and not allowing applications to approximation of functions in a single window "produce full effects" despite "well-trained staff". Electronic messaging is the preferred method of contact that develops the more traditional mail with no "more reliable it once had." Nevertheless "the administration has not yet organized to deal effectively with emails." In addition, agents fear the excesses authorized by the ease of communication (conversation repetition effect, known as "cat", sloppy …).
Platforms saturated
Impots.gouv.fr on the site, the Court criticized platforms "too often saturated" and believes that the General Directorate of Public Finance, DGFIP "should match each use of an electronic procedure to test satisfaction". The automatic payment (monthly payments, direct debit on the due date, online payment) in 2010 represented 87% of amounts paid to the Income Tax (IR) but only 53.9% of all IR and local taxes. Taxpayers must be "informed, reassured, heard" face "the instability of tax law", born of many reforms sometimes removed, the report says.
These uncertainties on the effective and sustainable tax standards "risks to competitiveness and attractiveness of France in a global economy" is more widely in the national guard. If the on-line since recently proposed policies of tax is popular with businesses, "the deadlines are often too short to the point that some reforms take effect without the terms of the corresponding instructions are available on a timely" , asserts the report. The Court of Audit also recommends that the administration of exceeding "design binary between the good citizen to the fraudster" to apply a more detailed analysis and also to accept that "users become actors in their own transformation."
Vinci said Tuesday expect a stabilization of its operating margin in 2012 to its 2011 level, in a context of expected stagnation in activity due to economic uncertainty in Europe.
The world leader in construction and has made concessions in 2011 a turnover of 36.96 billion euros, above the consensus of seven analysts gave 36.41 billion euros.
The Group turnover increased by 10.7%, higher than the growth "of about 7%" he anticipated so far.
Operating profit from ordinary activities (ROPA) group has meanwhile increased by 6.6% to 3.66 billion euros, according to the consensus, and gives a margin of 9, 9%.
"The margin ROPA / CA was 9.9% of sales, against 10.3% in 2010. This was due to the increased weight of the contracting industry in the total ('mix effect'), "Vinci said in a statement
…. The contracting activity ….. includes the construction and energy, one of two core businesses of Vinci near concessions, including motorway (ASF, Escota, Cofiroute and Arcour)
. The first pole represents 85% of sales but only 39% of operating profit of Hence the group's ambition to increase the weight of concessions in its business by purchasing an existing business, including Vinci airport assets
. was in line to the airports offered for sale by Hochtief of Germany, but it has recently suspended the tender because of the Greek crisis – including Hochtief wants to sell the airport Athens. According to sources familiar with the matter, it is now well positioned to take 40% of the first Turkish airport operator, TAV Havalimanlari.
UNCERTAINTY IN EUROPE
For 2012, the group plans "at least a stabilization of its activity" in a context marked by economic growth prospects more uncertain in Europe and a possible slowdown in orders on the continent in some segments or certain geographical areas.
In late January, the CEO, Xavier Huillard, had told Reuters that order intake in France may be less strong in the coming months because of questions about the financing community.
"The group remains confident and sets the objective to maintain its operating margin rate compared to good levels reached in 2011," continued Vinci.
It accounts for it on a slight increase in toll revenue and enters the year with a backlog of 30.6 billion euros in the contracting business, up 18% and its highest level ever.
"The position of the strong order book underpins their forecasts," said one industry analyst who requested anonymity. "In general, comments on 2012 are reassuring, we think that in the current action is interesting that these figures should cause a positive reaction tomorrow to scholarship. "
Before this publication, the action of the group closed at 36.83 euros (-0.37%), giving a market capitalization of 20.87 billion. Since the beginning of the year, the stock rose 9.1% after dropping 17% in 2011.
Vinci, who reached last year's net income, group share, of € 1.9 billion (+7.2%), proposes a dividend of 1.77 euro per share (6.0%) for the past year.
His group's net debt, largely inherited from the acquisition of French motorways during their privatization in 2005, declined last year by 3.6% to 12.59 billion euros.
Rosneft, Russia's leading oil producer, announced Friday a 19.7% increase in net profit in 2011, stood at 12.45 billion dollars in favor of higher prices crude.
Analysts polled by Reuters had expected a profit of 12.18 billion.
The group's turnover increased by 45.9% to 91.98 billion dollars, against a consensus of 91.84 billion.
The gross operating profit (EBITDA) stood at 22.02 billion (14.7%) while analysts had expected 22.14 billion.
Rosneft, whose title was progressing from 0.55% at the Moscow stock exchange, also said it planned to invest $ 4.5 billion in improving its refineries.
Wall Street opened slightly higher Thursday as investors welcoming the publication of figures for weekly jobless claims, emerged below expectations.
In early trade, the Dow advance of 0.15% (19 points) to 12,735.39 points. The Standard & Poor's, larger wins 0.15% (2.02 points) to 1,326.17 points while the Nasdaq composite gained 0.22% (6.06 points) to 2,854.14 .
The weekly jobless claims fell in the U.S. last week to 367,000 against 379,000 the previous week. Economists on average had expected 375,000 jobless.
Values, we notice the plunge of Abercrombie & Fitch (-10.33%), markets punish poor forecasts delivered by the group of ready-to-wear.
The head of state Friday defended its commitment to nuclear and again criticized the agreement between the PS and EELV, which he said would cost 125 billion euros. Nicolas Sarkozy defended the nuclear industry in France during his visit to the nuclear Tricastin then the site of the uranium enrichment plant Areva to Pierrelatte, Friday, November 25, 2011.
Nicolas Sarkozy said Friday that the agreement signed between socialists and environmentalists to reduce the share of nuclear energy amounted to a "destruction of the nuclear industry", in a speech in a factory in the French nuclear group Areva."It is not meant to start a simple reflection on the diversification of our nuclear power but to prepare, simply, an output of France's nuclear," said the French president, as part a trip to the uranium enrichment plant Areva Pierrelatte (Drôme, southern France). "How fresh take on the proposal to close 24 reactors and refrain from building new ones, if not the destruction of the industry," he added.
He for his part stressed his commitment to the industry. "Our fleet ensures our independence," he said. "I will not bear to leave thousands of homes by the weight of a decision that is purely ideological. I have no intention of selling out the legacy of those who came before us.
China's interest to invest its surplus in the European Union to help overcome the debt crisis, but this implies no political concessions, said Sunday Jean-Claude Juncker, President of the Eurogroup.
After the agreement on the enlargement of the European Financial Stability (EFSF) reached at the EU summit Wednesday, Nicolas Sarkozy said that Beijing had "a major role" in resolving the crisis, which resulted rise to strong reactions.
"The fact that China and others to be involved in a global solution does not worry me at all because China has a surplus incredibly important and it has an interest to invest in Europe" said Jean-Claude Juncker on the antenna of the German channel ARD.
"It will not happen under a hard bargaining which would imply that we must give something back to China.
"Even if China and other investors do not participate (in solution), the decisions we have taken are sufficient to enable us to overcome only the debt crisis," he added.
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