The Paris markets are taking a break this Wednesday after a robust performance upward. At midterm , the CAC 40 was down 1.49 % to 3372 points. But this decline was attenuated thereafter , the ACC back even balance around 15:30 at the opening of Wall Street . Investors were relieved after learning details of discounts debts zuro monarch in the area that will be taken into account in the " stress tests " .
Tests of resistance of European banks do not include discount on German sovereign debt , told Reuters two banking sources , adding that French loans could eventually be delisted , but very limited . It is otherwise sovereign debt of Portugal, Italy, Spain , Greece and Ireland , some of which will undergo a haircut in double figures. " We had to find a way to take into account the sovereign risk . It is a lesser evil to the extent that the market is really scary is the risk of default , " commented Alex Koagne , analyst at Natixis Securities . " The double-digit discounts for PIIGS ( Portugal, Italy, Ireland , Greece and Spain) , it is not very impressive. Greek debt is already dealing with a discount of about 20% of the market , " he added .
Tuesday, in a very quiet market , the indexes have climbed throughout the day to reach a closing up 2.73% over 3400 points. A rebound reflecting the high volatility of recent weeks : Monday again , the CAC 40 was approaching its lowest level this year.
Elsewhere in Europe , even movement . The Frankfurt Stock Exchange evolves decline of 1.27 % to 5865.20 points while the FTSE index down 1.26 % to 4902.70 points.
On Wednesday, investors follow Paris their Asian counterparts who chose to take profits. For its reopening after a weekend of three days , Wall Street gave no signal , calling instead for caution with a fence unconvincing in the green.
In terms of indicators, trade deficit of France rose sharply to 5.5 billion euros in May after 4.258 the previous month due to a decline in exports , according to data released by Customs. Economists had expected on average a deficit of 4 billion euros.
Also note that according to a recent estimate of the European statistics office Eurostat , the euro area recorded economic growth Soft 0.2% in the first quarter .
Moreover, orders to German industry declined for the first time this year in May , 0.5 % from the previous month, according to figures released Thursday by the Ministry of Economy . Economists interogés by Reuters on average expected a rise of 0.5 % .
The car in the viewfinder:
As for values , the auto sector should move on Wednesday. Peugeot announced increased its global sales of 16.9 % in first half. The title of the group climbed 0.14 % to 21.60 euros . Moreover, Peugeot would invest 700 million euros to resume production project in India, Reports the Wall Street Journal.
For his part Renault (-0.34 % to 31.02 euros ), which must publish its results tomorrow, Thursday trading .
Sodexo ( -0.80 % to 47.22 euros ) released before the market turnover with 11.54 million euros in the first nine months of the year. The group is an organic growth of its turnover for the full year 2009-2010 of about 2 % and hope to achieve an operating profit of between 780 and 800 million euros excluding currency effects the exercise .
Meetic ( -0.99 % to 19.90 euros ) announced Wednesday to build on an EBITDA margin of between 20 and 25% for 2010 , unchanged from its 2009 goal . The leading European dating sites also said that synergies from the integration of Match.com, the first since last June , should reach 10 to 15 million euros in the first year.
Atos Origin ( -1.34% to 32.33 euros) announced Tuesday the launch of new services known as "smart mobility ". The services company led by Thierry Breton makes 850 million euros in turnover in the field of electronic transactions and placed on the strong growth in use on smartphones.
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