After the profit taking which had plagued the Asian and American markets, the CAC 40 fell sharply changing from 0.86% to 3456.89 points in mid-session. Earlier, the index ceded more ground to -1.48% in the first few exchanges.

The trend is the same on the stock exchanges in Frankfurt and London: The German Dax opened down 1.12% at 5846.03 points and the FTSE-100 5142.22 1.14% to Abadon points.Around noon, they give respectively 0.67% and 0.92%.

As for companies, an impressive set of interim results announcements, part of which was made pre-market is on the agenda.

Banking and auto punishment

At mid-session, four stocks in the CAC 40 rose evolved: Vallourec (0.89%), Vivendi (-0.8%), Pernod Ricard (+0.03%) and Saint-Gobain (0, 02%).

On the other side of the charts, banking stocks are struggling. Crédit Agricole, red lantern, down 2.8%, 2% of AXA, Societe Generale 1.98%, 1.35% Dexia. The car values are also affected. Peugeot and Renault lost 1.51% 1.74% yield.

Ipsen is not convinced

Carrefour (-1.5% at 35.57 euros).The retail group reported a net profit of 67 million euros against a loss of 48 million last year, and has the bearing of the recommendation of Citigroup to "buy" cons "hold". The analsytes welcome launch of the new hypermarket concept.

The decline was more pronounced for Eurazeo, which is ironed in the green with a net profit of 88.5 million euros against a loss of 120.9 million a year ago. The shares lost 1.77% to 46.16 euros.

Still more in the red, Hermes (-3.61% to 141.65 euros) a net profit up 55.2% to 194.6 million euros.

Ipsen (-3.83% to 26.85 euros) publishes an annual turnover up 6.3% to 553.9 million euros and earnings down 23.5% to 75.5 million euros.

In the green on the other hand, Iliad (+1.8% at 70.75 euros), the parent of Free ISPs and Alice, shows an increase of 138% of its net profit to 171.4 million from Euro. Finally, the group

Aeroports de Paris (+0.04% to 54.5 euros), manager of platforms Roissy and Orly airports, reported a net profit increase of 8.2% to 137.7 million euros and turnover of 1.3 billion euros (+2.5%).

Havas, Bouygues, Vinci and Eiffage publish after-hours trade.

Statistics expected

The meeting was equally busy on the macroeconomic front. For the euro zone inflation slowed in August in the euro zone to 1.6% over one year after 1.7% the previous month, according to a first estimate of the European statistics office Eurostat published Tuesday.On the employment front, it is now five consecutive months as unemployment is 10%, its highest level since the creation of the euro area in 1999.

In France, sales of new homes rose 7.6% in the second quarter over a year, while housing starts rose 0.2% and building permits by 31.4% between May and July 2010 , announced the Department of Ecology. The corporate failures for the month of March and agricultural prices in July will be released by INSEE 12:00.

In Germany the number of unemployed in Germany fell in August to its lowest level since November 2008, thus establishing the conditions for continued growth in household spending needed to recover more balanced economy. The unemployment rate remained steady in August, and in line with expectations at 7.6% of the workforce.

In the U.S., house prices (15 hours), economic activity in the Chicago area (to 1545) and consumer confidence in August (16 hours) are also scheduled.

On the currency markets, the euro recovers against the dollar (+0.24% to 1.2697 dollar), to 12.10.

The situation has worsened, Bernanke acknowledged at the annual economic symposium in Jackson Hole, Wyoming, which meets every year members of the Fed."In general, the economic data suggest that the recovery of activity and employment has slowed in recent months" to fall "at a pace somewhat slower than anticipated in the Most leaders, "he said.

But for now, the risk of falling into deflation, the dreaded cocktail of low inflation and sluggish growth is "weak", said the central banker payday loans in one hour. Conversely, he noted that inflation had slowed more slowly than expected, while refuting the scenario of a price spike. Ben Bernanke has finally reiterated his confidence in the U.S. economy. After a slow recovery in the second half of 2010, growth should improve in 2011.

In this context, "the committee (monetary policy) is ready to implement further monetary easing through unconventional measures, if necessary, especially if the outlook were to deteriorate significantly," he said . Analysts will have to wait for the next meeting of the Board of Governors, September 21 next, whether the Fed will increase its stimulus.

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The formula has experienced a boom with the development of the Internet. The annual catalogs and postal letters gave way to sites updated 24 hours and 24 e-mail exchanges, fast and free worldwide. A real blow "magic wand", according to William Heinzer, co-founder of the site Trocmaison.com, with over 33,000 deals in 132 countries. At its opening in July 2005, he had only 6000.Homelink France, another leading player in the exchange with 13,000 deals in 70 countries, claiming an increase of 46% of its subscribers since January 2007.

France, the first destination for

The concept comes from the United States, where mobility is more common and less attachment to the old stones pushed in France. However, in proportion to population, the French are among the most active exchange sites. "They are adventurous! exclaims Denise Lemoine, in charge of developing Homelink France. France is the second country after the United States in number of subscribers. Even finding on Trocmaison, the French branch of the American HomeExchange: more than 5,700 vacancies are for housing in France.That figure is exceeded only by the United States.

Why such popularity? William Heinzer of Trocmaison, says he is "very surprised" the dynamism of its site, opened a little earlier than other European versions of HomeExchange. "France is the first destination of choice, he says, the French are so overwhelmed with proposals. Ile-de-France and the Riviera are top research but other regions such as Britain take the game as they pinned the growth of the site also relies on "the usual social networks" , which forces users regularly come into contact with strangers, and on word-of-mouth that can convince wary travelers.

Prepare the first exchange

Allow a stranger alone in his house delights rarely at first."The only way to overcome this fear is to talk with someone who has already made an exchange," says William Heinzer. "Communication between people is the basis of all," says Rudolph Nargeot, founding president of the association free website Switchome. Before making the exchange, both parties get to know each other by mail and telephone. "The exchange is the most difficult first," says Denise Lemoine Homelink. "We fear for his business and what you might find on arrival. But then you get a taste.

But be careful of setting even if, according to trade organizations and their regular customers, incidents and cancellations are very rare. The new "exchanges" and should check with their insurance only possible case is covered, especially if they have agreed to exchange cars with their partners.They can also, if desired, isolate some objects to which they are particularly important. Finally, if they are tenants, they can prevent their owner as a courtesy *.

Exchanging his apartment, but also make some steps to make his home attractive, find partners and agree on dates and different modalities. Once this done, prepare the house and realize a "home book", a veritable instruction manual on home appliances and various local places.

"The tourist in disguise"

But according to the regulars, these few drawbacks are outweighed by the benefits of this original formula. There are of course the financial aspect, not negligible. Indulge in Hawaii three weeks or two months in Australia is not within reach of all budgets.So it is pleasant, exchanging his house, to remove from its budget to housing costs and limit the cost of food.

Above all, the home exchange seduced by his state of mind, away from hotels and tourist buses. The "exchange" seek to discover another way of life by being a "tourist in disguise," said Jean-Louis, who has already made three exchanges. "When we're in Canada, we feel Canadian," says Gregory, another heat exchanger, we take out the trash, we go to the supermarket, we talk with neighbors, in short, we are part of the landscape, we are not tourists lambda in a hotel.

A concept that would attract companies

Born into a community of American professors, exchanging apartment has a hard day to return to the professional sphere.Homelink and Trocmaison trying both to establish partnerships with committees to enable employees to subscribe at a reduced rate and exchange homes with each other or with other subscribers of the site.

Explains Trocmaison have created a partnership with Dell Europe. The initiative comes from a customer site, director of group human resources computer in Italy. Dell was not available to confirm this information "It is not so simple to contact the Works, admits William Heinzer. But this is a project among others. "

Homelink side, efforts are not much more successful: we remember vaguely Ikea partnership ended several years ago between the Ikea Family card and exchange organization.This year, Homelink trying a new collaboration with Works of consulting firm Capgemini, which has engaged the services of the organization. However, "it starts slowly, admits Malika Dellal, head of Capgemini CE West. We will continue to encourage employees from using the vacation mode. Confident, she adds: "We will do a job of communication with the return of the best matches, six families this summer.

Some sites home exchange: – Trocmaison – Homelink – Intervac – Switchome

* Read: Exchanging his house: the new spirit of travel, Pascale Senk and Martin Rubio, the Editions of Ecuador

And the cost of construction is "re-estimated at around five billion euros," confirms the group. So far, the construction of 3rd generation reactor was estimated at four billion euros.

According to Jack Tord, coordinator CGT on the site, this would involve additional time to recruit more staff on site.The staff, already brought to 3,000 employees, "should reach 3500 to the end of the year or early next year," said he.

The management of EDF had implicitly recognized in November 2009 after a delay of one year, distinguishing between the engine start, in 2012, and "production of electricity sold, set up in 2013.

A delay not surprising

Delays in the EPR Flamanville are regularly mentioned in the press. In January, Le Figaro and Les Echos mentioned already "at least two years late" for a cost of 5 billion euros.Thursday, Le Monde and Le Parisien also evoked a start in 2014, against 2012 under the original schedule.

CGT refers to EDF for several months delay of this order, the Paris-based delegates arguing two years late and those of construction Flamanville a year and a half.

Credibility of the EPR

In a report released Tuesday by the Elysee Palace, the former boss of EDF Francois Roussely called to urgently establish a "priority action plan" to "ensure the construction of the nuclear Flamanville 3 in the best conditions cost and time.

Objective, preserve the credibility of the maximum EPR model and "the ability of the French nuclear industry to achieve new power plants were built, after the difficulties encountered on the Olkiluoto site in Finland and that of the third installment of Flamanville.

Construction of the EPR at Olkiluoto in Finland, led by the Areva group, accuses the four years behind its original schedule, with a reactor startup scheduled for late 2012 or early 2013.

Areva has spent 2.7 billion euros of provisions in its accounts for the site, while the cost of the EPR was initially estimated at 3 billion euros.

With the exception of Tokyo was closed Monday for a holiday, the Asian stock markets have also rebounded to gain, climbing 1.45% Shanghai and Hong Kong of 1.41%.

On the macroeconomic front, it remains in real estate in the United States, since the figures for housing starts for the month of June will be published at approximately 14.30. In France, INSEE reveal clues to 12 hours worth of orders received in the industry for the month of May

The news will be charged at the micro level, notably with the publication of turnover. Program are: Alstom and Hermes pre-market, Accor, Lafuma and Radiall after-hours trade. In the U.S., Johnson & Johnson, PepsiCo and Goldman Sachs will release their second quarter results pre-market, Yahoo! (Second quarter) and Apple (third quarter) after market.

On the currency markets, the euro flirted with the $ 1.30 mark, he has not met since May. Around 10.45am, the single currency was worth 1.2984 dollars (0.33%)."A strong euro coupled with a fragile economic recovery in the U.S. is double bad news for European export companies. Until then, the situation was reversed, "said Franklin Pichard.

The bank will resume, the computer values mixed

While bank stocks are picking up well in the early exchanges – Dexia (0.84%), BNP Paribas (0.73%), Credit Agricole (0.95%) and Societe Generale (+0.15% ), computer companies emerge mixed after disappointing results from IBM. Cap Gemini lost 1.02% to 35.42 euros, but Steria wins 1.18% to 20.56 euros.

Alstom: -1.07% to 36.46 euros

Alstom recorded a fall of 38% of its orders in the first quarter of fiscal year 2010/2011 shifted, while its revenues fell 5%.The group expects a "gradual recovery in demand.

Hermes: 0.24% to 57.29 euros

Hermes has doubled its forecast for sales growth this year and expects a rise of between 10% and 12%. The group's turnover surged by 22.8% in first half of 2010 to 1.0747 billion euros.

Edenred: 5% to 13.68 euros

Edenred announced an increase of 4.7% of its turnover in the second quarter, growth of Latin American operations have helped offset a more difficult economic environment in Europe. Trends should remain "similar" in Latin America, and Europe, in the second half.

Soitec: 1.46% to 8.21 euros

Soitec posted a turnover 2010-2011 in the first quarter increased 56.5%.The group expects a sequential sales growth exceeding 20% in first half on the basis of one euro to $ 1.27, with a return to balanced operating income, including its new photovoltaic business Concentrix.

Guyenne et Gascogne: 0.99% to 79.77 euros

Guyenne et Gascogne saw its consolidated revenues to grow by 5.1% to 278 million euros in the first half of 2010, the distribution of fuel. This figure confirms the sluggish consumer spending.

Compagnie des Alpes: 0.24% to 20.60 euros

Compagnie des Alpes has announced its successful capital increase of EUR 100 million with preferential subscription rights and creation of 5.88 million new shares. The total demand amounts to approximately 143.9 million euros, the company said in a statement.The new shares will be listed on the market July 21.

HF Company: -1.62% to 13.87 euros

HF Company has reported a turnover of 72 million euros in the first half, up 1.1% as reported and 3% on a constant basis, in a crisis of consumption.The company produces equipment for residential systems (digital television, broadband internet, etc..) Expects accelerated growth in the second half.

Audika: -14.05% 22.75 euros

Audika posted revenues down 4% to 27.9 million euros in the second quarter with a slowdown in sales of hearing correction since mid-May, as the environment is again unfavorable for consumption seniors.

Laurent Perrier: -1.20% to 66.51 euros

Laurent Perrier announced Tuesday an increase of 17.3% of its turnover, 36.8 million euros in the first quarter of fiscal year 2010-2011. The group enjoys very strong Champagne exports to the United Kingdom, the United States, Germany and Asia.

The project had been discussed in our columns, before being denied by Accor. Its position has obviously changed since then. The group sells for an undisclosed fee, 60% of the catering on board trains CWL Newrest its competitor, based in Toulouse. From January 2013, the French group will assign the remaining 40%, for an amount which depends on the valuation of the company at this time.

Last year, Compagnie des Wagons-Lits has achieved a turnover of 248 million euros and operating profit (EBIT) of EUR 3 million. In late 2009, the CWL has lost a major contract in Spain.The impact on turnover in the first quarter of 2010 represents a shortfall of 40 million euros, says it Accor, stressing that the CWL has instead awarded the contract for the TGV East March 7 last. A year earlier she had lost the tender for the provision of bar cars off the TGV North-East.

Other possible assignments

Present within the Accor Group since 1992, the Company has lost its former glory. Founded in 1872 by Belgian Georges Nagelmackers, who built the first sleeping cars and dining cars before embarking on the Orient Express and the Trans-Siberian railway, it has diversified into the hotel chains with Pullman, Etap- Hotel and Arcade (now in the lap of Accor) and in the service on board trains. The latter is now the only one of the Company.Over the past year, the Pullman Orient Express is indeed operated by the SNCF ….

Newrest, the new owner of Compagnie des Wagons-Lits, himself is present in the food on board aircraft, the catering, the basics of life for the oil industry and mining, VIP lounges at airports .. . Last year, its turnover reached 407 million euros. "This joint venture represents a unique opportunity to expand into the catering market on trains and expand into new countries such as Austria and Italy," says one in Newrest. For Accor, which is defined as the first global hotel operator, "This transaction is part of its policy of focusing on his heart craft." This does not preclude other interruptions.Draft assignment of Sofitel and Motel 6 chains have been mentioned by analysts of the market … and denials by the management of Accor.

Tests are carried out recently in a handful of stores in Belgium, Spain and Chambourcy, near Paris. But in Rhone-Alps that focuses the bulk of the efforts of the distributor réattirer customers and make them spend. The group also planned to hold its investor days, 15 and 16 September in Lyon.Between two presentations on the progress of plan savings of 3.1 billion euros, brokers and analysts will be invited to a tour of hypermarkets completely "re-enchanted.

According to our information, the most spectacular project will be unveiled in Ecully, in the upmarket suburb of Lyon. Work will start in the coming days and be completed in late August. The different radii, starting with those on the non-food (textiles, hi-fi …) will be reorganized in the form of blocks, or shops open on a driveway. A radical break with the organization of gondolas "spike", perpendicular to the rays.

Expensive and spectacular

Another radical change, hyper might be organized around a single street, which would allow customers to wander at will … without missing a spoke."A spiral path, which would impose a smooth path to clients as Ikea," says one close to the matter. A precision belied by Carrefour.

Rather expensive, spectacular concept, designed by the design office Malherbe, should be reserved for the most hyper among the high-end 231 of the brand in France. Also, changes may not be as radical, but they should nevertheless be numerous, as in Venissieux.

There remains the issue of the less profitable stores in the chain. Here the group test by the end of an adaptation of his Brazilian concept Atacadao involving hypermarket and hard discount, with few services and references 7000 sold to declining prices based on volumes purchased.Eventually, nearly a dozen stores could be converted, and renamed Hypercash.

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Elsewhere in the region, the trend is very promising: the Hang Seng in Hong Kong up 1.05%, the Singapore Straits Times of Singapore won 0.3% to 2889 points and the S & P / ASX Sydney s 'gives 0, 71%, to 4652 points.

Sony confident

The Japanese electronics giant Sony has confirmed on Thursday it had ended the fiscal year 2009-2010 on a net deficit reduced to 40.8 billion yen (312 million), reflecting a return to the Green In terms of utilization through reductions in fixed costs.

With the renewed vigor, Sony also said Thursday that he hoped to finish the year began last April, and will be closed in March 2011, a net profit of 50 billion yen (about 400 million euros ).

Nissan Motor Co. is not far from being able to resume an operating margin of between 6% and 7%, said Thursday that Carlos Ghosn, CEO of the Japanese held 43% by Renault. On the occasion of the publication of a return to profit in the fourth quarter 2009-2010, Nissan had Wednesday reported a profit forecast for 2010-2011 considered conservative.

A challenge for the "cost killer" at Nissan, the shareholders re-elected for four years without surprise at the head of the automaker. Five years after its accession to the presidency of the group, the economic conditions in 2010 should however be difficult. The scheduled shutdown of the scrappage scheme in particular, should not contribute to boost the profits of Renault, who anticipates a decline of 10% of the European market this year.

"The club small groups producing more than 7 million cars a year"

To find the flexibility brought by the loan of 6 billion euros granted by the state earlier this year, Ghosn has also committed to the shareholders to repay that money more quickly than expected, it ie before the year 2014 Guaranteed fast personal loans. "We will refund well before the deadline and we will refund if possible in concert with our friends at PSA," he said. The lion brand was in effect at the time assisted the same amount.

The manufacturer expects to have the freedom again to close and installing production units it wants to reduce its costs.One recalls the intervention of Nicolas Sarkozy to stop the entire production of the Clio in Turkey …

Carlos Gohn finally defended the recent alliance with Daimler, well received by analysts but with more caution by the shareholders of a German manufacturer of luxury cars. "With Daimler, we enter into the restricted club of groups producing more than 7 million cars a year," argued the head of the corporation.

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The world provides a stabilization of its production to 40 million carats in the next two years, against 48 million carats in 2008.The predicted shortage should be accelerated by new demand from Asian countries, including China, where these stones are very popular online cash advance.

In twenty years, no site has been discovered that can compete with the mines operated by De Beers in South Africa or that of Alrosa in Russia.

After a difficult 2009 which resulted in losses, the diamond table on profits this year, and until 2014. Some analysts see the move as a preamble to a re-IPO of the group.

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