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jeudi 6 mai 2010

European shares continue to mope.



Keywords: Banks, Debts, earnings, EUROPE, ASIA, U.S., Bernanke, Jean-Claude Trichet, BNP Paribas, Societe Generale, Credit Agricole.

Markets end down again, slightly reassured by announcements of ECB President Jean-Claude Trichet. In Paris, the CAC falls below the 3,600 points (-2.20%), Milan fell more than 4%. In contrast, the Athens Stock Exchange closed up 0.98%.

The red color is dominant European markets. After two hours of suspension of trading of NYSE-Euronext indices due to "technical problems", the markets resumed trading about 16 hours but the break was not enough to calm the spirits. Results: The CAC 40 closed down 2.20% to 3556.11 points. The FTSE in London lost 1.52% to 5.5260,99 points while the Milan Stock Exchange fell 4.26% after falling 5% after the session.
In contrast, the Athens Stock Exchange recovers and closes up 0.98% to 1678.42 points.
The atmosphere remains tense in the European markets after riots in Greece that killed three people . On Thursday, Jean-Claude Trichet, ECB president, has not reassured the markets after its much-awaited press conference. In addition to the announcement of maintaining 1% refinancing rate of the ECB Jean-Claude Trichet, however, ruled out the hypothesis of a lack of Greece on its debt and added that the decision of the ECB's Collateral thresholds of debt reflected the seriousness of the Greek plan for economic recovery in Athens.
The euro fell to a new low since 12 March 2009 to 1.2764 dollar.
In this atmosphere, the good news published in the United States undetected. Entries weekly unemployment fell to 444,000 against 451,000 the previous week. In addition, productivity gains of U.S. companies have been higher than expected first quarter. Productivity increased 3.6% over the fourth quarter, while analysts

BNP Paribas set to 5 billion euros in debt Greek:
As for values, BNP Paribas advance of 3.48% to 49.50 euros. The banking group has published a Net Income up 46.5% to 2.28 billion euros for the first quarter, above expectations. The group also announced exposure to Greek debt to 5 billion euros, cons 3 billion euros for Societe Generale and 850 million euros to Credit Agricole. The group Banques Populaires and Caisses d'Epargne is itself exposed to 2.1 billion euros, which 882 million euros for its subsidiary Natixis.
Moreover, Emporiki, the Greek subsidiary of Credit Agricole, On Wednesday posted a quarterly loss up 24.1% compared to last year, to 209.3 million euros as a result of the increase in provisions.
Cap GeminiThe group recorded a turnover of 2.052 billion euros in the first quarter, down 6.9% over one year. The shares climbed 5.70% to 38.74 euros.
AXA (-2.19% to 13.18 euros) posted sales up 1.1% to 27.910 billion euros, but below expectations.
Alcatel (-5.71% To 2.13 euros) announced sales of 3.24 billion euros, down 9.8%. Trading in its action was a time suspended.
The Chief Executive PSA Philippe Varin said that his group will repay one billion euros this year in anticipation that the State, under the loan that was granted in early 2009 to meet the challenges of sectors. As for his counterpart RenaultCarlos Ghosn, he reaffirmed his intention to "pay back as quickly as possible" on loan from the State, without specifying any figures.
Hermes (3.46% to 102.60 euros) yields a turnover up 18.5% in the first quarter to 507.7 million euros.
Finally Page Jaunes (2.82% to 9.33 euros) continued to see its revenues decline in the first quarter: its sales lost 3.2% to 233.9 million euros, but it provides a better second half performance its Internet activities.

Bureau Veritas in form:
GDF Suez (-1.13% To 25.88 euros): Moody's downgraded from "stable" to "negative" view of the group notes. The group announced it had completed the sale of Fluxys 636 million euros, with a gain of 422 million. In an interview with Les Echos on Thursday, the group's CEO Gerard Mestrallet also states that the global oversupply of gas could disappear in 2012-2013.
Off-CAC 40 Decaux anticipates organic growth of around 9% in the second quarter thanks to increased market visibility and, after a rebound of 5.6% in the first quarter, exceeding its own expectations. The title gained 1.16% to 21 euros.
Like Veritas (2.80% to 42.56 euros) Wednesday announced a turnover in organic decline of 2.6% in the first quarter and confirmed targeting a gradual return to growth in the second semester in favor of a increased its order intake.
Vicat (1.82% to 56.54 euros) issued a turnover of 398 million euros in the first quarter down 5.6% at constant scope and exchange rates.
Mr Bricolage (-1.95% To 14.57 euros) issued a turnover up 1.8% to 135.1 million euros in the first quarter and confirmed its full-year trends in view of its April .
OL Groupe (0.39% to 7.58 euros), parent of Olympique Lyonnais, showed a decrease of 6.3% of its turnover to 125.5 million euros in the first quarter.

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