Archivio per la categoria 'tidings'

Wall Street opens on a note of cautious concern for Greece

The U.S. places have opened in a disorganized Tuesday, torn between the announcement of the organization of new elections in Greece and macroeconomic indicators satisfactory.

Within minutes of opening, the Dow Jones progressed from 0.16% to 12,715.99 points after having opened in the red. The Standard & Poor's, wider, gained 0.14% to 1,340.28 points while the Nasdaq composite advanced 0.28% to 2910.10 points.

New elections will be held in Greece on Tuesday after the failure of talks between political parties on forming a coalition government, announced the Greek Presidency.

This political instability increases the fears about the future of Greece and especially on a possible exit from the country of the euro area.

Given the concerns around the European debt crisis, investors were reassured, however, by a series of U.S. data on activity and consumption satisfactory.

On the values ​​front, JPMorgan progressed from 1.14% to 36.22 dollars. Increasing pressure on the CEO Jamie Dimon could be called Tuesday by the shareholders of the U.S. bank to relinquish the presidency after the loss of at least two billion dollars charged by it in response to a hedging strategy risky.

The general meeting of shareholders is held from 14:30 GMT.

Groupon soared 18% to 13.89 dollars after posting its first quarterly profit for the last three months of its fiscal year ended March. Citigroup rose to a recommendation to buy on value.

The results of Home Depot were poorly received, however, the title falling by 3.9% to 47.92 dollars. The group released a turnover in the first quarter to 29 April at 17.81 billion dollars (13.86 billion euros). This is below market expectations which relied on sales of 17.96 billion.

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OECD for a relaxation of fiscal rules in Europe

The European Union should exclude public investment calculations of budget deficits and issue Eurobonds to promote growth, said Sunday the chief economist of the Organization for Co ; operation and Development (OECD).

In an interview published in La Stampa, Pier Carlo Padoan believes that the "fiscal pact" aimed at controlling public finances in EU countries should not be renegotiated, everything ruling in favor of new rules on assessment of deficits and debt.

"Capital expenditure should be excluded from the calculation of deficits and debt. Eurobonds should be introduced, "said he, resuming his account the positions of the Italian government led by Mario Monti

….. These two ideas …. are, so far, no takers in Germany, where it is estimated that Eurobonds may be considered before a fiscal discipline is implementation in the euro area

. Pier Carlo Padoan also said that the risk of Greece leave the euro zone increased …

…… "This risk exists and is greater than six months ago," saying that the consequences of default Greece would be "catastrophic", judging the passage "irresponsible" those who minimize the consequences

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Danone disappointed to have missed the little pots of Pfizer

Danone is disappointed at having been blown by Nestlé infant nutrition activities from Pfizer, but the amount of 11.85 billion dollars invested by the Swiss group exceeded the limits that the Translation ; ais had set, said Thursday its chairman Franck Riboud.

At the general meeting of shareholders, Franck Riboud, Danone has assured that "would bounce as usual" and that "win more matches by country".

"We always said we were interested in all or some, but certainly part of that business. We set limits, we did not exceed our desired limits and Nestle has won, "said Franck Riboud

. "I do not hide that we are a little disappointed because the company really had a strategic interest to us but the intere ; strategic t can not justify everything, "he said

. Analysts were relieved of the e Failed Danone against the Swiss group because they felt that the French group had not the means to finance a transaction of this magnitude

….. …. Many of them consider that Danone could get some of Pfizer assets in Southeast Asia and Latin America. 

"We do not like losing matches so we will gain more by country, as is done for many years. We are already working on a strategy by country country, "said Franck Riboud.

The President also recalled that Danone had not intended to focus on external growth.

"All the strings are at our disposal, we know very well to organic growth, this is what we will focus in the months and years ahead."

The title Danone ended down 0.64% to 53.9% at the close of trading, limiting gains to 11.8% since the beginning of the year.

ASML is optimistic thanks to tablets and smartphones

ASML has delivered an optimistic outlook Wednesday, saying the popularity of smartphones, tablets and other ultra-thin computers support its sales within six to nine months to come.

As a world leader in engraving machines for semiconductors with a market share of 75 to 80%, ASML passes for a good standard of high-tech sector and investors are closely following its forecast .

"Given the market, we are confident (…) for the rest of the year, we remain positive," said CFO Peter Wennink.

"The chips go directly to things that are currently very popular, is all that is mobile, media, internet and especially smartphones and tablets."

The firm specializes Gartner said this month that it anticipated a 2.5% increase in IT spending the world, at 3,700 billion, while planning before an increase of 3.7%, citing the strengthening dollar and declining public expenditure in the euro area ……. ASML

.. anticipates a turnover of 1.2 billion euros in the second quarter after 1.25 billion in the first quarter and projected sales in the third stable The quarter

. I gave to Reuters sales of 1.209 billion in first quarter

……. Wennink .. said that the outlook for the fourth quarter remained "somewhat uncertain". The value of the backlog was 865 million euros in the first quarter but Wennink finds it difficult to predict what will be the second quarter as orders are received fewer but larger-scale .

This uncertainty beating down the share price, which fell 2.7% to 36.9 euros. She had reached two weeks ago its highest level since October 2000.

"Investors expect an acceleration of ASML orders but has not strengthened in their hopes, perhaps they will now have a cautious attitude," said Philip Scholte, analyst Rabobank.

The Dutch group has also reported net earnings of 282 million euros, compared to consensus building on 278 million.

Union leaders at Opel and PSA want to forge a union

Union leaders at Opel-Vauxhall European subsidiary of General Motors and PSA Peugeot-Citroen will hold talks in April to forge an alliance against the two groups and defend employment, said Friday the European Metalworkers Federation (EMF).

Wolfgang Schäfer-Klug, Opel, and Jean-Francois Kondratiuk, PSA, are due April 18 in Brussels with other union representatives to a preparatory meeting before another meeting the end of April which will be attended by delegates from all European sites.

The meeting will be chaired by Ulrich Eckelmann, general secretary of the GEF. Its objective is the creation of a permanent entity that can speak on equal terms with the directions of the two groups.

"The current strategy of the two automakers is to play their respective sites against each other. By creating this alliance, they can increase their scope and include all production sites in this competition, "said Wolf Jäcklein, a member of the GEF ….

….. "We need to step beyond our individual companies and defend us all against this tactic is the key." .. Leaders

…… Opel will present next Wednesday on the supervisory board of the European subsidiary of General Motors a project involving the closure of two plants in Europe to reduce by about 30% production capacity, officials said several sources informed of the discussions within the company. 

PSA Peugeot Citroën, the new French ally GM meets Friday a European group committee three weeks after the announcement of the merger between the two groups, while unions' s question the social and industrial benefits of the project.

RPT-European shares end up

Economic prospects for improvement in Europe and the United States supported the dollar and European stock markets have closed up Wednesday, while bonds, which have much played the role of values refuge during the crisis, were logically abandoned.

In Paris the CAC 40 ended with a gain of 0.40% or 14.35 points to 3564.51 points. In Frankfurt, the DAX 30 gained 1.19%. In contrast, the FTSE UK sold 0.18%. The pan-European FTSEurofirst 300 index ended up 0.28% to 1,098.37 points, regaining its level of August.

The U.S. stock market, which many had mounted Tuesday, are more hesitant and outline a consolidation to their high levels.

The activity in developed economies is expected to accelerate in 2012 thanks to the highly accommodating monetary policies of central banks and signs of calming debt crisis in the eurozone, according to 250 economists polled by Reuters. 

Tuesday night, the Fed said evidence of a slight economic recovery and an easing of tensions in financial markets while confirming his promise to keep rates at ; levels close to zero for a long time.

In addition, major U.S. banks have nearly all passed the stress tests and continue to have annual required capital despite simulations of large losses, said Tuesday the Federal Reserve ; eral of the United States.

The dollar continues to rebound to hit a new high of 11 months against the yen and a new high of one month against the euro at 1.3028 dollars, after raising the Re Federal serves its assessment of the economic situation. 

The greenback rose to 83.65 yen a moment, its highest since mid-April 2011. According to traders, the Japanese exporting companies are reluctant to sell the U.S. currency. They anticipate a continuation of his rise. Since the beginning of the year, the dollar gained 8.6% against the yen.

China expects 7.5% growth in 2012

The Chinese government expects economic growth of 7.5% and 4% inflation in 2012, announced Monday Premier Wen Jiabao at the opening of the annual session of the Congress of the People .

The budget deficit is expected him to rise to 800 billion yuan, or 1.5% of gross domestic product.

Growth forecasts are in line with analyst expectations, but Beijing had earlier set a target of 8% annual GDP growth. 

"Our ambition is to promote a continuous and sustained economic development, to preserve price stability and protecting us from the financial risks by keeping the money supply and credit supply at an appropriate level and adopting a cautious and flexible approach, "said Wen in his report to Congress of the People.

The Prime Minister further undertakes to limit real estate speculation and ensure the stability of the yuan. It also promises Beijing's intervention to solve the problem of indebtedness of local governments that many investors consider to be the main concern on the fiscal silent.

France and Belgium agreed to combine MES and EFSF

France and Belgium have agreed on the need to implement as soon as possible the future solidarity mechanism in the euro area (MES) and its enhancement with the means of relief fund current the euro area (EFSF), it was said Friday a source close to the Elysee.

The same source, there were reports of an "identity of views" on these issues at the end of a one-hour interview at the Elysee Palace between Nicolas Sarkozy and Prime Belgian minister, Elio di Rupo.

"There is an identity of views on the need to implement the TSS as soon as possible and reinforcement, additionality between the MES and the EFSF," it was said.

"We have already said we would revisit the issue in March and here is our German friends to do move," they added. 

Enhancing capabilities of MES, whose creation was decided at a European council in late January, could be raised at the forthcoming summit scheduled to 1 and 2 March in Brussels.

Germany has so far refused to consider increasing its endowment beyond the planned 500 billion euros. France is pushing for his part in a combination means the EFSF and MES, successor to the fund, to give it increased firepower. Executive Director of the IMF, Christine Lagarde, had estimated late January that such a combination would be a "strong signal" to restore confidence in the euro area.

Always a source close to the Elysee, it indicates that Nicolas Sarkozy pleaded with Elio di Rupo to the European institutions, starting with the Brussels commission, adapt to a more integrated euro area.

"It is necessary that the commission revise the methods when she works for the euro area. We can not be refereeing by independent non-euro, "said the source citing the head of state

." We also need a much faster operation of the commission, can not wait months and months it takes to draft regulations so that there is urgency.

And also, it takes a much stricter monitoring of the government economic decisions (Heads of State and Government) in the euro zone takes. Belgian Prime Minister fully agrees with that. "

On leaving the Elysee, Elio di Rupo stressed that the European Union now had the form of two "concentric circles", the EU itself and the euro area, "which must have a dynamic linked to the single currency"

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Mass rally in Greece before the vote on austerity plan

Tens of thousands of demonstrators gathered outside the Greek parliament as MPs must vote in the late afternoon a bill consisting of austerity measures demanded such drastic and unpopular es by the EU and the IMF in exchange for a new rescue plan.

Greek Prime Minister of Greece Lucas Papademos warned against the "economic chaos" in case of rejection, while Germany has warned that Greece should stop being a "well bottomless "`.

After three days of tension and political threats, Parliament began shortly after 14:00 (12:00 GMT) to examine the bill to save 3.3 billion euros thanks to lower wages, pensions and job cuts public. 

The vote must take place before midnight (2200 GMT), said the finance minister, Evangelos Venizelos, "because on Monday morning, the banking and financial markets should have received the message that Greece can and will survive. "

"If the law is not adopted, the country will go bankrupt," warned the Minister that a Communist deputy threw the pages of the bill on the floor of the Assembly.

About twenty members of the coalition of Lucas Papademos have threatened in recent days to vote against the text and six government members submitted their resignations, but the Prime Minister will still theoretically supported by a large majority. 

Outside the parliament, police fired tear gas to try to disperse demonstrators who threw stones and Molotov cocktail at Syntagma Square.

This is the largest mobilization since the month of demonstrations against the security measures. Most protesters retreated but clashes continued in the middle of the afternoon.

"There is tear gas into the interior of the Assembly," said one Communist deputy, Panagiotis Lafazanis.

"Bottomless well"

The new austerity plan is the price to pay for the release of an aid program of 130 billion euros from the EU and the IMF – the second since 2010.

Greece has to touch the money before March 20 to repay a state loan of 14.5 billion euros.

Germany has turned up the heat a notch Sunday warning that Europe expected actions and not words.

"The promises of Greece are no longer sufficient for us," warned the German finance minister, Wolfgang Schäuble. 

Referring to the new austerity plan in which the Greek deputies must vote this Sunday, the minister said in an interview published by the Welt am Sonntag that the previous did not e ; tee implemented in their entirety.

Wolfgang Schäuble said that the Germans are largely in favor of an international aid to Greece. "But it's important to say that it can be a bottomless pit. This is why the Greeks will finally have to clog the well. Then we can put something. At least people are now beginning to realize that it will not work with a bottomless pit.

"Greece must do its homework to become competitive, it requires a new rescue plan or some other way that we do not want to (…)" he says referring to an output the euro area.

Asked if such an outcome is possible, Wolfgang Schäuble responds: "Everything is in the hands of the Greeks themselves. But even in that event, on which no table, they remain an integral part of Europe ".

"We are pleased to offer our assistance, but we should not give others the impression that they have not done enough. Each state is responsible for itself," explains he said.

The Tokyo Stock Exchange ended down 0.15%

The Tokyo Stock Exchange ended slightly lower, from 0.15% Thursday, after announcing an acceleration greater than expected rate of inflation in China and continuing uncertainty about the bailout of Greece.

The Nikkei lost 13.35 points to 9002.24 points while the Topix broader took 2.15 points (0.27%) to 784.49 points.

Nissan Motor has lost more than 1%, a victim of profit taking after its results.