Economic Analysis and Indicators

The average price of a liter of unleaded 95 rose to € 1.58 last week and that of unleaded 98 amounted to 1.62 euro. The diesel has meanwhile increased to 1.42 euro per liter.

The price of gasoline at the pump, for the third straight week, in France reached new highs, according to data dated Friday and released Monday by the Ministry of Sustainable Development. The diesel, however, still below its 2008 peak, but is close to its highest since the beginning of the year, reached last month.

According to ministry data, the average price of a liter of unleaded 95 rose to € 1.58 last week and that of unleaded 98 (whose sales are much lower in SP95) amounted to 1, 62 euro. Both fuels and exceed the record levels set a week earlier (respectively € 1.5787 / l and 1.6184 euros / l), according to figures compiled by the Directorate General for Energy and Climate (DGEC) .

The diesel has meanwhile increased to 1.42 euro per liter Friday euro against 1.4180 the previous week. It is close to its highest of the year (1.4240 euro on Jan. 13), and its record in spring 2008 (1.4541 euro). The heating oil prices have also reached a new peak at 1.02 euro per liter, but retailers now expect a "slight easing," said the French Federation of fuels in a statement.  

Since late 2011, gasoline prices prance record after record in France, powered by a dual effect of geopolitical tensions (Iran, Nigeria …) that keep crude oil prices at very high levels, and the weakening of the euro against the dollar, which boosts the cost of black gold once its converted value in the single currency. Tehran said Sunday he stopped all oil sales to France and Britain, two EU countries most advanced in promoting sanctions against Iran.

This announcement, symbolic, since the two countries have already stopped their purchases to Iran in late 2011, could increase pressure on prices by increasing market fears of an escalation of tensions in the Strait of Hormuz, through which pass 15 million barrels of crude per day. The selling price at the pump are national averages calculated by the DGEC from data provided by service stations. Diesel sales represent about 80% of French consumption of motor fuels, the unleaded 95 just under 15% and 98 unleaded around 5%.

The satellite operator SES on Friday issued quarterly results in line with expectations but said it expected slower growth in sales and earnings this year Due to the delay in launching a satellite and the end of terrestrial television in Germany.

The group, which sells transmission capacity of television channels such as BSkyB, Canal Plus, Premiere or NBC, is expected to increase about 2% of its sales Business recurrent and 1% of its gross operating profit (EBITDA) in 2012.

In 2011, these increases were respectively 2.8% and 3.1%. 

Revenues for the fourth quarter of 2011 stood at 451.6 million euros, an amount consistent with the consensus calculated on the basis of estimates of analysts polled by Reuters.

The gross operating income for the period stood at 323.2 million euros (consensus: 333 million) and operating profit to 198.3 million (consensus: 198 million).

The shortfall in income related to the end of the radio transmission in Germany, which takes effect in April should be about 100 million euros since this post has generated 150 million euros in 2011. 

Excluding this impact, the recurring revenue and EBITDA grow by around 9% this year, continued SES, which has said it expects an average annual increase of 4.5% of its business and 4.0% of its EBITDA over the period 2012-2014.

Thursday, Eutelsat, one of the main competitors of SES, reported a drop in net profit in the first half of fiscal 2011-2012 due to an increase in financial charges and rate tax related to transactions of recent debt refinancing.

The Greek government has summoned the deputies Saturday slingers to provide support to the austerity measures demanded by the EU and the IMF for the implementation of a second rescue plan, otherwise they commit the country to "an unknown and dangerous path" which he says will lead to bankruptcy and international economic isolation.

The leader of New Democracy (ND, conservative) Antonis Samaras, while criticizing the austerity policy of Greece sinking ever more into recession, urged é ; read of his party to support the second bailout, worth 130 billion euros, failing which their applications would be rejected for the upcoming legislative. 

The coalition of Prime Minister of Greece Lucas Papademos has an overwhelming majority in parliament, which should ensure the adoption, scheduled for Sunday, a series of new austerity measures including a further reduction of public expenditure, of about 3.3 billion euros this year.

But six members of the government have already resigned in protest against the scale of austerity measures, among them a 22% decrease in the minimum wage.

"The consequences of uncontrolled failure would be incalculable for the country, not just for its economy (…). This would take us on a path unknown, dangerous, "he said Saturday Deputy Minister of Finance, Filippos Sachinidis

. In a newspaper interview Imerisia, he portrays the disaster in which he said Greece would fall if it did not honor the repayment of 14.5 billion euros of bonds maturing on March 20

. "Let us ask ourselves what it would mean for the country the loss of its banking system and not be able to import raw materials , pharmaceuticals, fuel, food and basic technologies, "he said

. The Greek government on Friday approved evening the bill involving the country in the reforms demanded by the EU and the International Monetary Fund for the implementation of the second bailout. 

While a 48-hour strike against austerity entered its second day, Saturday, fifty communist militants have deployed two huge banners on the ramparts of the Acropolis. "Down with the dictatorship of the monopolies and the European Union", they proclaimed.

FIFTEEN BILLION FOR BANKS?

Seven thousand demonstrators gathered in the center of the capital, according to figures released by the police. No overflow has been reported, unlike Friday when police fired tear gas towards protesters throwing Molotov cocktails and stones.

Members of the ND, which has a strong lead in the polls for parliamentary elections planned a priori in early April, should support the austerity measures Sunday, in the whole. But Samaras was keen to warn politicians of his party, the second largest group in parliament after the PASOK (Socialists).

"This is obviously a matter of party discipline," he said before a parliamentary committee, adding that any slingers would be excluded from elections of April.

The far-right party LAOS has left the government coalition Friday and ordered his four ministers to resign. Two members of PASOK have also slammed the government's door in protest against the harshness of austerity.

Former Socialist Prime Minister George Papandreou has also wished to draw members of PASOK to vote austerity measures.

"I've lost friends, my family suffered, I lost my job, I was insulted, dragged through the mud like no other politician in this country," he told the elected PASOK parliamentary group.

"Yet all this is nothing compared to what our people expect if we do not choose the right path. Despite all the anger we feel as we boil, we must persevere, "he told them

. Minister Finance Evangelos Venizelos said on Saturday it would take perhaps another 15 billion more to rescue the Greek banks, thereby confirming the EU estimates

.

The European Union calls on the other hand the Greek government to provide details of further cuts in public spending of $ 325 million Euro

. It also requires a clear commitment from party leaders of the coalition government to implement austerity measures .. …….

Goldman Sachs has the ambition to grow further in Europe, said Chief Executive Officer of the U.S. investment bank, quoted in a Swiss newspaper.

"Our goal is definitely to win market share even greater in Europe and in all areas, whether brokerage, issuing shares and bonds, advice on mergers & ; acquisitions or money management, "said Gary Cohn, according to the Saturday edition of Finanz und Wirtschaft.

"We want to be number one in all our markets."

Gary Cohn adds that the decision of some European banks to withdraw a portion of their investment banking activities is an opportunity for Goldman Sachs.

The pace of job creation in the private sector slowed in January in the United States following the sharp rise the previous month, according to survey results published monthly ADP e on Wednesday. Some 170,000 jobs were created last month in the private sector, while the market was expecting 185,000 new jobs. The December figure was revised downward to 292,000 jobs created instead of the 325,000 initially announced. This report is jointly published the company ADP and Macroeconomic Advisers LLC. According to Alexander Hoder, economic analyst at FTN Financial, "that the figures should be higher in the future to the rate of unemployment is falling." This number precedes the monthly statistics of employment for the month of January which will be published Friday. The markets expect the unemployment rate unchanged at 8.5% and 150,000 net new jobs in the public and private non-farm, but after 200,000 announced for the month of December.

Enrollment managers and skilled workers have been growing. In contrast, unskilled workers and employees are in decline by 5% and 7.3%. Officers, employees

The temporary employment declined by 0.4% in October compared to October 2010, with a decline in all major sectors except industry, according to the barometer Prism job on Monday. Temporary employment is considered an indicator of future trends in the labor market.

In October, the number of executives and middle management and skilled workers have been growing 5.9% and 5.5%. In contrast, unskilled workers and employees are in decline by 5% and 7.3%. If the industry increased its use of temporary staff in October compared with October 2010 (1.8%), the other major sectors were down: construction (-0.6%), transport (-0.8 %), services (-4.4%) and trade (-4.5%).

These national statistics mask large regional differences: two regions stand out in terms of increase, Midi-Pyrenees (12.5%) and Haute-Normandie (+10.6%). However, in the Ile-de-France, the enrollment decline is temporary 7.3% in October over a year. There was also a decrease in Limousin (-7%) in the Languedoc-Roussillon (-6%) in Provence-Alpes-Côte d'Azur (-5.5%), Britain (-4.5%).

This barometer is determined by the group Umanis from the statistics provided by a panel of temporary employment representative, as Prism over 80% of temporary employment.

European shares are stepping up their gains, resulting in the CAC 40 index beyond the resistance of 3,300 points in markets relieved after the agreement reached in the night on the Greek debt restructuring, capacity building fund support the euro and the recapitalization of European banks.

In Paris the CAC 40 is doped by the bank and Axa, up 12%. At the top of the index, Crédit Agricole flies by 21%.

Dexia wins more than 10% at the resumption of trading of the security.Constraint to the dismantling early October due to the debt crisis in the eurozone, the bank said Thursday that its capital requirements amounted to 1.7 billion euros.

PPR takes more than 6%, boosted by the announcement on the eve of a very strong sales growth in the luxury market in the third quarter despite a difficult economic environment.

The euro peaked at 7 weeks against the dollar at 1.4038. Traders refer to a new level of resistance around 1.4050 dollar.

More than eight in ten French people approve a regulation of property prices by the state, and 59% demand limiting rent increases. And you, what do you think? Cranes on construction sites in Marseille.

More than eight in ten French people say they favor a state regulation of the sale price of homes, according to an Ipsos for the developer Nexity, published on Wednesday by Aujourd'hui en France / Le Parisien.Among "the actions that the state can implement to facilitate the acquisition of real estate," 83% say it should "regulate the sale prices" 87% think it should "strengthen the interest-free loan "and 88% calling for a" price controls public land to build buildings at affordable prices. "

"One of France well housed"

Among the "priority issues in housing in your community and around in years to come," 59% of respondents also want to "limit rent increases" and 44% support a limit "price increases the purchase. "In general, respondents are 81% think that in the coming years, the goal should be "one of France well housed, while 18% think it should be" a France of homeowners. "

And you? Are you in favor of a rent control, including the relocation?

Do you think the state should-and can-also intervene to regulate the sale prices? If so, how?

Encourage home ownership you think there a good way to solve the housing problems?

Express yourself in the comments!

Nexity-Ipsos survey was conducted among 1,000 people representing a cross of the French population aged 18 and older. The interviews were conducted by telephone from August 22 to 25, 2011.

Equity markets have continued to play yo-yo Tuesday, plunging on vague rumors and bouncing on mere statements of intent. Some banking stocks have at least the opportunity to recover his health.

Lost 6% during the day and finish on a 15% increase in closing is possible. The performance is to make the general assets of the Company on Tuesday, as a symbol of a particularly crazy day. European stock markets have not actually stopped playing yo-yo, showing a capacity to switch to the blackest pessimism based on rumors or news to perk up the idea of ​​a meeting or telephone a rescue of Europe by emerging countries.

At the end, Paris has finally gained 1.41%, following a fall of 3% during the session, and have opened up 2%.Other European markets followed the same bumpy ride, finally winning Frankfurt 1.85% 2.19% Milan, Madrid and London 2.53% 0.87%. On Wall Street, the Dow Jones displayed a slight decrease (-0.35%) to 4:05 p.m. GMT. The euro was steady against the dollar.

European banking stocks, murdered in recent days by the markets because of their exposure to Greek debt, have made a spectacular recovery. In France, Societe Generale soared to 14.96% after falling 6% in the morning. The Deutsche Bank jumped 8.15% to 4.33% of Santander and the Italian Banca Popolare di Milano of 8.35%.

According to operators, is announcing a conference call Wednesday between German Chancellor Angela Merkel, French President Nicolas Sarkozy and Prime Minister of Greece George Papandreou that allowed the markets back on their feet late in the session, feeding speculation about a new initiative for Athens.

Another positive for the markets, the major emerging economies of the BRIC (Brazil, Russia, India, China, South Africa) have indicated that they would discuss next week the opportunity to help the European Union.

In the course of the day, rumors of "Franco-German Greece" had triggered a surge in short-lived, quickly faded after the denials of Paris and Berlin.

Angela Merkel has hammered on Tuesday that "top priority" was "to avoid a default uncontrolled" of Greece, a few days a meeting of European finance ministers attended by the U.S. Treasury Secretary Timothy Geithner.

In the morning, a rumor had first given respite to European markets, also reassured by a rebound on Wall Street last night. This rumor, which evoked a purchase by the Chinese sovereign wealth fund of government bonds in Italy, was in turn denied by Rome, which said that talks with China focused solely on industrial investment, not a purchase debt.

For several days, Italy's third largest economy in the euro area, which is buckling under one of the heaviest public debt of the area is in the crosshairs of the markets.She has made a bond issue on Tuesday with rates have soared to record levels, a sign of mistrust of the market.

Rome has developed a new plan in August of rigor draconian 54.2 billion euros, which should enable the country to achieve a balanced budget by 2013 and reduce its huge debt (120% of GDP).

The austerity plan "will be presented Wednesday with a vote of confidence in the Chamber of Deputies and will be approved without change," promised the head of the Italian government Silvio Berlusconi, after a meeting in Brussels with the President of European Union, Herman Van Rompuy.

Another victim of rumors, BNP Paribas has denied the connection, an anonymous loan to the French bank reporting a failure for the group to find liquidity in dollars. Remarks not published in an article in a simple forum but given the Wall Street Journal.The title ended on a rebound 7.20% after falling nearly 10% during the session!

Fimalac Thursday announced a definitive agreement with IBM leading to the sale of its subsidiary Algorithmics group for an amount of U.S. $ 387 million (270 million euros).

The risk management software, content and consulting services provided by Algorithmics are used by financial institutions, insurance companies and investment, said in a statement the parent company of Fitch .

Under the terms of the agreement, IBM will be sold at Algorithmics in cash at a base price of $ 387 million, "subject to price adjustments at closing."

The fiscal cost of participation at Fitch Group is estimated at about $ 96 million, said Fimalac.

Algorithmics recorded a turnover of 163.7 million dollars during its last fiscal year ended September 30, 2010, for an EBITDA of 10.9 million and an operating loss of 10.3 million.

The effective completion of the sale could take place before the end of October 2011.

The title Fimalac closed Wednesday on a course of 24.46 euros, a decrease of 23.6% since the beginning of the year for a capitalization of 700 million.