Loss in the first quarter, Dexia meets this Wednesday's meeting in Brussels but will likely wait until the inauguration of François Hollande to resolve the issue of governance.

The Board of Directors of the Franco-Belgian bank being dismantled in the day must appoint Karel De Boeck, former managing director of financial group Fortis as administrator.

The Belgian government has officially said Tuesday he wanted it to become CEO of the bank instead of French Pierre Mariani but the French authorities have not yet given ; no official position on this issue. 

The issue of governance is urgent because of a relative Luc Coene, the Governor of the Central Bank of Belgium, believes that Dexia will likely need to be recapitalized again.

Dexia announced a net loss of 431 million euros for the first three months of the year, attributable to "non-recurring items", basically the cost of government guarantees covering its financing and depreciation.

The bank said that the State guarantees French, Belgian and Luxembourg were a quarterly cost of 128 million euros.

She also recorded an impairment of EUR 145 million on its stake in Kommunalkredit Austria and an "adjustment" of € 102 million related to the sale of Dexia Municipal Agency. The property must be sold to the French state and the post office to create a new credit institution to local communities.

The Belgian government said it wants to renegotiate the distribution of 90 billion euros of financing guarantees granted to France with the new government of Francois Hollande.

Since the decision late last year to dismantle Dexia, the Belgian authorities have carried out the nationalization of retail banking activities in Belgium while France has decided to return via the CDC and the Postal Bank, the activities of local government financing.

The bank suffered a net loss of 11.6 billion euros in 2011. 

Although in sharp decline, the size of the stock of Dexia is considered by some analysts as systemic because a failure to pay the bank would have incalculable consequences for the entire sys European Banking me.

Dexia shares was opened down 5.26% Wednesday after the publication of its first quarter results

Around 11:15, the Dexia share yielding 5.26% (0.01 percent) to EUR 0.18, representing a market capitalization of 350 million euros.

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The Tokyo Stock Exchange Tuesday redid some of the ground lost the day before in the wake of the results of elections held Sunday in Europe, although investors say they are still cautious about the dice veloppements future policies.

The Nikkei gained 0.69% or 62.51 points to 9,181.65 and the Topix broader took 4.51 points (0.58%) to 776.57.

Monday, the Nikkei plunged 2.8%, which was its biggest drop in one day of the last six months.

The election, even anticipated by the markets, Francois Hollande to the French presidency but also the outcome of parliamentary elections in Greece, where ; no majority emerges in Parliament, had indeed been a breath of concern on Asian financial markets. 

"We do not yet know what lies ahead for Greece, we do not know what the new coalition will look like (…) and the Nikkei is not likely to surge as these uncertainties remain," said de clared Toshiyuki Kanayama, market analyst at Monex.

The action Marubeni jumped 3.77% after a source said that the fifth largest Japanese trading house was in advanced talks to buy Gavilon broker cerebral ; ales and U.S. energy for some $ 5.2 billion.

German Chancellor on Sunday called President-elect Francois Hollande to congratulate him on his victory and invite him to come to Berlin, according to Pierre Moscovici. German Chancellor Angela Merkel.

German Chancellor Angela Merkel on Sunday urged President-elect Francois Hollande to congratulate him on his victory in the presidential election and invite them to come to Berlin, told AFP the campaign manager of the Socialist Pierre Moscovici.

"Merkel has called him to congratulate him on his election. They had a first exchange and agreed to work together on a Franco-German relationship that is strong and the service of Europe," said Mr. Moscovici. "Merkel has invited him to come to Berlin, which he did soon after his inauguration," he added.

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 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.

Prime Minister Francois Fillon, has validated this weekend's decision to notify Thales a contract worth several billion euros for the modernization of tactical radios of the French armies, writing Le Figaro Tuesday.

The contract, three to four billion euros over 22 years, involves the renewal of 33,000 radio systems used by the military, the paper recalls.

The Ministry of Defence had agreed but of Economy objected to the notification of an important contract in its presidential campaign. Matignon has ruled.

The number of resale properties totaled 858,000 last year, according to solicitors. 21,000 or more than the previous record in 2006. But activity in the former will fall in 2012.

There has never been so many resales of houses and apartments in France than in 2011. With 858,200 transactions recorded by notaries, up 9% from 2010, the former real estate market hit a record high. The previous record for the last 12 months studied, was 837,000 in mid-2006, said the lawyers at a news conference. However, we should distinguish between the province and the Ile de France

For if the sales regions have reached a good level ever with 710,000 transactions, the capital region, she was "merely" of 148,200 operations, is far from the record of 167,400 set in 2005.  

This level of activity on the property market may seem somewhat old paradoxical as prices continued to soar last year, including Paris. It is partly explained by the desire of many owners to sell before the higher taxes on capital gains real estate, intervened in early February 2012, on second homes and rental accommodation. The end of the loan (PTZ +) in the former planned in late 2011 also prompted the first-time buyers to rush their proposed acquisition. But this device has funded about 300,000 operations. As many advantages that will boost the property market more this year …

The year 2012 should be much less favorable. Notaries predict a total of transactions between 700,000 and 740,000 in the former, a drop of 15% to 20%, predicted Bazaille Pierre, president of real estate notaries. And especially as the mortgage, both in the former than in the new, earlier this year saw an apocalyptic France.Selon the Banque de France, the amount of housing loans granted in February was the lowest for 32 months, a fall of 41% compared to January and by 49% compared to February 2011.

The Housing Credit Monitoring / CSA assesses in turn the decline in the first quarter to 36% over the same period last year. To the point that the economist Michel Mouillart is very pessimistic in the absence of new tax incentive schemes. "We will have a drop in business markets, including the market of the former, as no one ever has seen," he warns. With what effect on prices? He is careful not to indicate.  

This strong demand in any case continued to push the prices up in 2011, at least in the past three quarters permiers, find notaries. Prices of old apartments have increased by 6.5% in France in 2011 compared to 2010 but decreased slightly over the last three months of the year. The largest increase was recorded in central Paris (+14.7% year on year but the increase was only 0.2% last quarter). But big cities like Lyon and Bordeaux, recorded increases of almost 9%. For homes, the increase was more pronounced in the Ile-de-France (+5.7%) than in the provinces (1.3%).

The reforms adopted by Portugal to consolidate its public finances are on track and the country should be able to borrow again in the markets in 2013, as planned, said Tuesday the Europe Commission ; enemies.

Portugal received last year for a bailout of 78 billion euros over three years of the European Union and the International Monetary Fund after seeing its rate 'market borrowing to rise to an unsustainable level of debt for the country, whose growth is affected by low competitiveness.

This aid package was not fully reassured investors, some fearing that Lisbon does not follow the way of Greece requesting a new bailout that could mean losses for creditors of the private sector. 

"The program (reform) is broadly on track. Fiscal adjustment in 2011-2012 was remarkable in every respect, "said the third report of the European Commission on Reforms in Portugal ……. The

.. payment of a portion of the money promised by international creditors is dependent on compliance by the Lisbon reform objectives, subject to close monitoring EU, IMF and European Central Bank

. "Portugal fully complies with its contract," said, in the condition of anonymity, a European official who attended the presentation of the report

. Asked whether Lisbon could have need a second aid plan in case it would be impossible to borrow on the markets, he was optimistic

.. ……. "We feel that this plan is sufficient. But that's another question whether Portugal will be able to convince the markets, "he said

." At the moment, we estimate that the program is ongoing and that Portugal should be able to return to the markets in 2013, "said the European official, noting that the yields of Portuguese paper have already begun to decline secondary market

. The bond yield fell to ten years to 11.8%, against 17.4% in late January ..

……. The EC nevertheless warned against "the continuing risks and challenges", including a possible rise in unemployment to above expectations, 14.4% for 2012. The unemployment rate reached a record level of 15% in February, according to Eurostat data.

While Portugal is experiencing its worst recession since the 1970s, the government expects economic contraction of 3.3% this year and a 0.3% growth in 2013 .

Registrations of new cars in France fell by 23.5% in March in raw data, reflects a comparative worst than ever in 2011 when the scrappage dopait sales further.

Renault shares (-1.83%) and PSA Peugeot Citroen (-2.61%) have the largest declines in the CAC 40 index which is 0.43% while the Stoxx sector index of 'European automotive advance of 0.34% to 9:45.

Last month, he registered 197,033 new passenger cars in the Hexagon. After adjustment for working days, the decline appears to 20.0% in March 2012 that were 22 days as against 23 in March 2011, announced Monday the Committee of French Automobile Manufacturers (CCFA).

In January and February this year, the market had already experienced declines of around 20% in raw data, the backlash level of registrations recorded on the pe same period of 2011 through to last orders "cash for clunkers" that could be delivered until March 31 of last year.

"This downturn is spectacular but it was expected," said Flavien Neuvy, Director of the Cetelem automobile. "We still think that most of the decline in yeara was performed in the first quarter and that the scenario of two million vehicles over the year remains relevant in light of new orders and new models coming. "

CCFA has also maintained its estimate of a decline of about 10% of the French automotive market in 2012.

For PSA Peugeot Citroen, which has teamed up in February at General Motors, registrations in France plummeted 33.2% last month while the Renault-including the diamond brand and low cost Dacia brand registrations stand-fall of 29.8%. 

Throughout the first quarter, the French automotive market will be contracted by 21.7% unadjusted and 22.9% when adjusted for working days.

Registrations of PSA for the period fell by 30.3% and Renault's 30.2%, in gross terms in both cases. In contrast, those of the Volkswagen group declined only 2.3%.

The British group International Power said Thursday it had received from its majority shareholder GDF Suez a non-binding offer to purchase shares of the capital it does not already own, at a price of 390 pence.

The announcement comes after months of speculation about the intentions of the French group, which already owns 70% of International Power.

The proposed price is only slightly higher than the closing price on Wednesday (383.4 pence).

After the announcement of the offer, the title International Power gained 5.53% to 404.6 pence at 9:21 GMT.