Paris keeps pace with a view to publication of an extensive series of US statistics.
Paris keeps pace with a view to publication of an extensive series of US statistics. At 14 hours, the CAC 40 rose by 1.32% to 4.737,45 points. Vallourec and Credit Agricole dominate the index, whose values are almost up.
The rebound continues after five consecutive sessions of decline, with a view to a full agenda on the macroeconomic level. Two days after the publication of the ISM manufacturing, his counterpart in the service sector, or nearly 90% of US economic activity, will be released during the afternoon. The Fed will also publish its Beige Book after the close in Europe. Meanwhile, a reassuring news in the financial sector (progress in the rescue plan of booster credit Ambac, results and Credit Agricole in Paris NOC), the European statistics promising in the services and news from the corporate side rather positive support the rebound. The relatively low volumes, however, betrays a degree of caution on the part of investors.
At 14 hours, the CAC 40 won 1.32% to 4.737,45 points in a business volume of 2.2 billion euros on the values of the index. The index has lost almost 6% of its value over the last 5 sessions. In London, the Footsie takes 0.74% at 5.810,40 points, and in Frankfurt, the Dax rose by 1.30% to 6.630,08 points. In New York, the March future contract on the Dow Jones index climbed 0.44% to 12,276 points.
Meeting in Vienna, the oil ministers of OPEC have maintained their production quotas unchanged, said Reuters. The weekly statistics of American oil stocks will be issued 30 to 16 hours.
Three other US statistics are on the agenda for the afternoon: the second estimate of productivity in the fourth quarter to 14.30, orders to the industry in January and the ISM index of activity in the service at 16:00.
Finally, the Fed must publish its Beige Book at 20:00. This document, which provides an update on developments in the economy during the last two months, will serve as a basis for further work at the next board meeting on monetary policy scheduled on March 18.
The barrel of light crude American resumed 64 cents to $ 100.16 after the status quo on its OPEC production and prospect of a further increase in stocks in the United States. The dollar has stabilized around 1.5195 for 1 euro.
Credit Agricole SA increased by 4.41% to 17.97 euros, apparently supported by the prospect of high efficiency and the absence of new projects and acquisitions. The bank has accused Green a net loss of 857 million euros in the fourth quarter, against a profit of 1.06 one billion a year earlier, affected by 3.3 billion euros in impairment losses related to the crisis in credit markets . For the full year 2007, Credit Agricole recorded a net profit of 4.04 billion euros, down 16.8%. The bank proposed a dividend of 1.20 euros, up 4.3%. Finally, with regard to a possible interest in Société Générale, the chief financial officer of CASA said "not remain indifferent to developments that might occur."
Other banks also rise. BNP Paribas takes 1.95% to 59.55 euros and Société Générale 2.26% to 68.95.
CNP Assurances advance of 4.05% to 73.62 euros. The group saw its net profit appreciate by 6.7% to 1.22 billion euros in 2007. Net income from recurring operations excluding capital gains increased by 34.8% to 1.12 billion and gross operating income by 21% to 1.83 billion. Turnover fell by 1.4% to 31.5 billion. The insurer is proposing a dividend of 2.85 euros, an increase of 24%. For 2008, the NPC indicates seek an increase in net income flow of at least 10%, except for "significant deterioration of the financial crisis."
Vallourec won 5.58% to 143.63 euros, while the group has slightly raised its forecast for sales for 2008. Cheuvreux is also increased from "under-performance" to "outperform" on the title. The manufacturer of seamless tubes reported a growth of 7.5% in net income to 986.2 million euros last year. Operating income rose by 5% to 1.62 billion euros and gross operating profit declines 28.5% vs. 30.1% a year earlier. Group sales climbed 10.8% to 6.14 billion. The group will propose a dividend of 7 euros per share. For 2008, Vallourec targets a turnover "at least equal" to that of 2007 on a comparable basis. In February, the group estimated on a turnover of "online". Finally Vallourec announces establishment of a plan to reduce costs in order to save more than 200 million euros per year by 2010.
Vinci won 1.87% to 45.61 euros. The building group and concessions signed a memorandum of agreement with the Dutch Fortis for the rapprochement of their operations of parking lots. The entity resulting from such an agreement would be the world's number one industry.
EDF fell by 2.37% to 57.25 euros. The electrician is in discussions with Inter RAO for possible exchange of assets that could lead to an equity participation of the French specialist in the Russian trading of electricity, announced the latter.
Finally, Neopost takes 1.91% to 66.97 euros. The specialist solutions for mail processing has dropped by a staggering 1.3% of its turnover to 907.1 million euros in 2007-2008. In the fourth quarter alone, activity declined by 8.8% to 224.5 million euros. The group was confident for the current year and is aiming at a growth of at least 3% of its turnover, excluding currency effects and off PFE British contribution, in the course of acquisition
The rebound continues after five consecutive sessions of decline, with a view to a full agenda on the macroeconomic level. Two days after the publication of the ISM manufacturing, his counterpart in the service sector, or nearly 90% of US economic activity, will be released during the afternoon. The Fed will also publish its Beige Book after the close in Europe. Meanwhile, a reassuring news in the financial sector (progress in the rescue plan of booster credit Ambac, results and Credit Agricole in Paris NOC), the European statistics promising in the services and news from the corporate side rather positive support the rebound. The relatively low volumes, however, betrays a degree of caution on the part of investors.
At 14 hours, the CAC 40 won 1.32% to 4.737,45 points in a business volume of 2.2 billion euros on the values of the index. The index has lost almost 6% of its value over the last 5 sessions. In London, the Footsie takes 0.74% at 5.810,40 points, and in Frankfurt, the Dax rose by 1.30% to 6.630,08 points. In New York, the March future contract on the Dow Jones index climbed 0.44% to 12,276 points.
Meeting in Vienna, the oil ministers of OPEC have maintained their production quotas unchanged, said Reuters. The weekly statistics of American oil stocks will be issued 30 to 16 hours.
Three other US statistics are on the agenda for the afternoon: the second estimate of productivity in the fourth quarter to 14.30, orders to the industry in January and the ISM index of activity in the service at 16:00.
Finally, the Fed must publish its Beige Book at 20:00. This document, which provides an update on developments in the economy during the last two months, will serve as a basis for further work at the next board meeting on monetary policy scheduled on March 18.
The barrel of light crude American resumed 64 cents to $ 100.16 after the status quo on its OPEC production and prospect of a further increase in stocks in the United States. The dollar has stabilized around 1.5195 for 1 euro.
Credit Agricole SA increased by 4.41% to 17.97 euros, apparently supported by the prospect of high efficiency and the absence of new projects and acquisitions. The bank has accused Green a net loss of 857 million euros in the fourth quarter, against a profit of 1.06 one billion a year earlier, affected by 3.3 billion euros in impairment losses related to the crisis in credit markets . For the full year 2007, Credit Agricole recorded a net profit of 4.04 billion euros, down 16.8%. The bank proposed a dividend of 1.20 euros, up 4.3%. Finally, with regard to a possible interest in Société Générale, the chief financial officer of CASA said "not remain indifferent to developments that might occur."
Other banks also rise. BNP Paribas takes 1.95% to 59.55 euros and Société Générale 2.26% to 68.95.
CNP Assurances advance of 4.05% to 73.62 euros. The group saw its net profit appreciate by 6.7% to 1.22 billion euros in 2007. Net income from recurring operations excluding capital gains increased by 34.8% to 1.12 billion and gross operating income by 21% to 1.83 billion. Turnover fell by 1.4% to 31.5 billion. The insurer is proposing a dividend of 2.85 euros, an increase of 24%. For 2008, the NPC indicates seek an increase in net income flow of at least 10%, except for "significant deterioration of the financial crisis."
Vallourec won 5.58% to 143.63 euros, while the group has slightly raised its forecast for sales for 2008. Cheuvreux is also increased from "under-performance" to "outperform" on the title. The manufacturer of seamless tubes reported a growth of 7.5% in net income to 986.2 million euros last year. Operating income rose by 5% to 1.62 billion euros and gross operating profit declines 28.5% vs. 30.1% a year earlier. Group sales climbed 10.8% to 6.14 billion. The group will propose a dividend of 7 euros per share. For 2008, Vallourec targets a turnover "at least equal" to that of 2007 on a comparable basis. In February, the group estimated on a turnover of "online". Finally Vallourec announces establishment of a plan to reduce costs in order to save more than 200 million euros per year by 2010.
Vinci won 1.87% to 45.61 euros. The building group and concessions signed a memorandum of agreement with the Dutch Fortis for the rapprochement of their operations of parking lots. The entity resulting from such an agreement would be the world's number one industry.
EDF fell by 2.37% to 57.25 euros. The electrician is in discussions with Inter RAO for possible exchange of assets that could lead to an equity participation of the French specialist in the Russian trading of electricity, announced the latter.
Finally, Neopost takes 1.91% to 66.97 euros. The specialist solutions for mail processing has dropped by a staggering 1.3% of its turnover to 907.1 million euros in 2007-2008. In the fourth quarter alone, activity declined by 8.8% to 224.5 million euros. The group was confident for the current year and is aiming at a growth of at least 3% of its turnover, excluding currency effects and off PFE British contribution, in the course of acquisition
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