Business News & Financial News

LVMH wipes one of the largest declines in the CAC 40 stock market Friday morning, a victim of profit taking after the publication of its annual results, after winning more than 21% since mid-December .

Stakeholders believe however that the title could quickly resume colors, these results with 2011 confirmed the good resistance of luxury to the crisis, with prospects for the year 2012 found very reassuring .

At 11:00, the title fell by 0.87% to 125.25 euros in a volume of nearly 455,000 pieces, or 41% of its average daily volume the past three months, while the CAC 40 is stable.

"These are profit-taking. The results are very good. LVMH has proven its strength in non-crisis and crisis. The title should rebound quickly (upwards), "said one trader

. LVMH has published annual results up sharply, signing new records through the acquisition of Bulgari, and once again demonstrating the resilience of luxury to shocks in the economy

….. …. "LVMH is a history of strong growth and fits well with the themes of our strategic team for 2012 (quality, sustainable growth, large capitalization, strong balance sheet)," said Thomas Chauvet, an analyst at Citi

. But he wonders if time is not ripe for the title of a break in a context of weak growth

. "After the 15% increase in luxury and LVMH shares, with limited potential for earnings growth in short term, we see only modest upside potential for the course, "he said. 

"Like the rest of the sector (with the exception of Tiffany), LVMH shares performed well since the beginning of the year, supported by stronger growth than expected in its sector fourth quarter, a favorable exchange rate developments and an appetite for stocks with high beta (volatility). Despite positive comments from CEO of LVMH, the action probably warrants a pause, "says Antoine Belge of HSBC

. Analysts already largely positive on the title, welcome the absence of growth deceleration in the fourth quarter and in January, several of which have raised their forecasts for 2012 and their price target

. "We note the strong momentum in the fourth quarter by region and by industry, the figures being very close to those of the third quarter, "wrote Thomas Mesmin, an analyst at CA Cheuvreux, which raised its price target from 19% to EUR 150

… …… "Management remains optimistic for 2012 and reports a good start to the year, particularly in Asia (Chinese New Year) and the United States. Local demand in Europe continues to grow, which is a very reassuring, "he says

. Oddo Securities also raised its price target on LVMH, which rose from 140 to 146 euros, and its estimate of 2012 net income, noting that the EBIT for 2011 published is 3% above the market consensus

. In a note on LVMH entitled "Crisis? What Crisis ", Natixis Securities is also its price target, going from 140 to 147 euros, and confirmed its recommendation to buy

……. .. "The fourth quarter exceeded expectations ends the year in style and confirms the excellent level of business despite the current depressed. The strengths of the group (unique portfolio of brands, global presence) will play back full in 2012, "wrote analysts at Natixis in their daily note

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The European Union and the United States imposed sanctions on Syria to stop the repression. The Arab League will soon follow suit. But these measures will be effective to bring down President Bashar al-Assad? Not so simple … Demonstration against Syrian President Bashar al-Assad in Istanbul.

After the United States and the European Union, the Arab League threat of economic sanctions against Syria. The organization includes Saoudi Arabia, Iraq and Egypt imposed an ultimatum: if the power does not stop the violence against his people, the organization will hit the country in the PORTFOLIO. But these economic sanctions have their limits. Explanations.

Imposing the sanctions and how?

So far, it is especially the European Union has shown.Moreover, tourism is affected: it reported 6 to 7 billion euros last year and represents 12% of GDP. "The economic machine is running at 40% of its resources today," said Hasni Abidi, director of the Centre for Studies in the Arab world (CERMAM). The possible sanctions of the Arab League at the end of their ultimatum could further exacerbate an already fragile economy. "States of the Arab League import a lot of fruits, vegetables and grains, Syria has a highly developed agriculture. If you stop overnight, these imports, it's a catastrophe for the country," said the researcher. The situation is so delicate that the Minister of Economy has just imposed a drain of $ 10 on the salaries of civil servants to bail out the state.

General Motors announced Monday the retirement of Nick Reilly, current head of the European activities of the group and its replacement next year by Karl-Friedrich Stracke.

The latter will take office as president of GM Europe on 1 January while retaining his current position as CEO of Opel.

General Motors had appointed in March the former head of engineering at the head of the European manufacturer Opel.

Porsche AG said Friday expect operating income (Rex) was up over 10% this year, Chinese demand for luxury vehicles has boosted its sales in the first nine months of the year.

Operating income for the German automaker will show growth in 2011 "clearly double digit," said a spokesman for the group.

Porsche has reported an operating profit up 25% to 1.51 billion euros over January-September.The spokesman declined to provide comparable figures for 2010, when Porsche had experienced a truncated fiscal year from August to December.

The manufacturer, owned by Porsche SE and Volkswagen reiterated its plans to sell more than 100,000 vehicles this year, after having passed 85,872 from January to September, or 26% more than in 2010.

Sales in China soared 82% over the period, to 17,683 units.

Thursday, Volkswagen reported an operating profit for nine months rose 86% to 8.97 billion euros, with a rate of double-digit growth in sales and a gain related to the merger with Porsche.

List of values ​​to follow on Wednesday at the Paris Bourse.

* BANKS. The International Monetary Fund is considering taking part in a special investment vehicle that would be created by the European Financial Stability (EFSF) but has not yet taken any decision, officials said Tuesday the euro area.

* PSA Peugeot Citroën has revised down its forecast Wednesday after the third quarter of 2011 marked by lower volumes and increased competition on prices in Europe.

* AIR LIQUIDE confirmed target improvement in net profit in 2011 "in a normal environment," despite a slowdown in sales growth in the third quarter, still worn by the emerging markets.

* Bouygues.Morgan Stanley initiated coverage of the value with a board underweight and a target price of 32 euros.

* Saint-Gobain confirmed its 2011 objectives despite the deterioration in economic conditions which could lead to slower growth in the fourth quarter of the group.

* STMicroelectronics.Kepler Capital Markets lowered its recommendation on the way to reduce, retain cons.

* Ingenico found that the turbulence in the economy does not question its forecast for 2011, thanks to particularly strong sales growth in emerging countries and Europe, but the manufacturer of payment terminals has remained silent of 2012.

* MERSEN confirmed its 2011 objectives, supported by strong solar activities and Asia, but expressed cautious for 2012 due to economic climate remains uncertain.

* LAFUMA confirmed its performance targets for 2010-2011 following a growth of 1.7% of its turnover in respect of the fiscal year.

Maple Group, a consortium of Canadian financial institutions, said Thursday it was extending until Oct. 31 its hostile bid of 3.8 billion Canadian dollars (2.7 billion euros) on TMX Group, the operator of the Toronto Stock Exchange.

The consortium, composed of the four largest banks, pension funds in four of the country and one of the largest life insurers in North America, also said he continued to work to get the go Green regulations for its offer of 50 Canadian dollars per share.

TMX and the London Stock Exchange had agreed to merge earlier this year before the LSE does not waive lack of sufficient support from shareholders of TMX.

Airbus wants to sell the Airbus A320 or A321neo, remotorisée version of its single-aisle aircraft at Royal Air Morocco and will remain alert to the intentions of Boeing, said on Wednesday sources close to the European manufacturer.

The Moroccan company in trouble last week announced its intention to sell ten aircraft, including four Airbus A321s, five years after their purchase, and five Boeing 737-500, to raise one billion dirhams and bring to five the The average age of its fleet.

According to La Tribune, Royal Air Morocco plans to build a 15-year exclusive contract with Boeing.

The subject could be discussed during the visit of Nicolas Sarkozy to Morocco on Thursday, Reuters said the source close to Airbus.

"It's surprising, given the investment they have made to operate the fleet, but Airbus will be particularly vigilant," she said. "Airbus is working with Royal Air Morocco on providing A320neo or A321neo".

Neither Airbus nor Boeing have to comment this information, while Royal Air Morocco was not immediately available.

The Moroccan government proposed last week to inject 1.6 billion dirhams (142 million) as part of a program of 9.3 billion dirhams by 2013.

These measures aim to strengthen the finances of Royal Air Morocco undermined by increased competition and oil prices and the impact of revolutions and the Arab attack in Marrakesh in April.

Philips reported new measures of cost reductions on Tuesday due to weak demand for its products, an ad that has boosted the title of the Dutch in early trading before it turns into a context of new sharp fall in European shares.

One who is both a world leader in lighting, one of the top three global manufacturers of hospital equipment and the European leader in consumer electronics is affected by higher commodity prices, from budget cuts in the Health and by sluggish consumer spending.

Philips said it had increased to 800 million its goal of cost reductions, which represents a 60% increase compared to $ 500 million announced in July.

The group also expressed confidence in its ability to meet financial targets for 2013, despite the uncertainties surrounding the global economy.

By 10:35 GMT, Philips yielded 0.78% to 12.13 euros after gaining about 7% in early trade. However, the value is better than the AEX index of the Amsterdam Stock Exchange (-1.6%) and the index grouping the European values ​​of consumer goods and luxury.

Safran's aerospace equipment will make its entry into the CAC 40 index, while the bank Natixis is about to leave, said Friday the Scientific Council of the indices of NYSE Euronext.

In a statement, the Council states that these changes will take effect from the trading hours of Monday, September 19.

The entrance to Saffron in the benchmark index of the Paris Stock Exchange was expected, but the output of the subsidiary of BPCE (People's Bank – Savings Bank), one year after its entry into the CAC, was least, the market until a further release of Suez Environnement.

The action Natixis lost 17.59% of its value since the beginning of the year and 41.4% since September 17, 2010, its entry in the CAC.

No comments could be obtained immediately from Natixis or Safran.

The Scientific Council of the indices of NYSE Euronext has also decided to introduce in the SBF 120, IT group Bull, the specialist in bioanalysis Eurofins Scientific and Virbac Animal Health Laboratory, and the output of specialist allergy treatment Stallergènes .

Standard & Poor's lowered Tuesday its economic growth forecasts for the eurozone to 1.7% this year and 1.5% for 2012 and believes that a relapse into recession can be avoided even if the risks are increasing .

The rating agency expects that the European Central Bank (ECB) is not interest rates before the end of first quarter 2012 and that the Bank of England keeps rate at 0.5% until the second half of 2012 to meet the 1% by the end of next year.

S & P planned to date for euro zone growth of 1.9% in 2011 and 1.8% in 2012.

"We continue to believe that a true 'double dip' ('double dip') will be avoided by maintaining sources of growth, although we recognize that downside risks are significant," writes Jean-Michel Six, an economist for Europe S & P "In particular, we will closely monitor the evolution of consumer demand over the coming quarters."

For its part, the International Monetary Fund next month should lower its growth forecasts, reported Monday the Italian news agency Ansa.For the eurozone, the IMF expects more than 1.9% of GDP growth in 2011 and 1.4% in 2012.

The S & P forecast for Germany is reduced to 2% in 2012 instead of 2.5%, and for France to 1.7% in 2011 and 2012 instead of 2.0% and 1.9% respectively .

The French government has lowered its forecast last week to 1.75% in 2011 as announced in 2012 and 12 billion euros in measures of income and savings to reduce its public deficit in the agreed proportion.

According to S & P, the British economy should grow by 1.3% in 2011 and 1.8% in 2012 (instead of 1.5% and 2.0%) and the Spanish economy by 1.0% in 2012 to instead of 1.5%.