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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Deposits record debt have accelerated last year after a slight dip in 2010. The number of filings in 2011 with commissions of over-indebtedness on the mainland increased by 6.6% compared to 2010, 232,493, announced Wednesday the Bank of France. It increased by only 1% in the first nine months of 2010. The number of cases handled, it is more sensitive it up by 10.1% to 239.647.Dans detail, the commissions have used the new possibilities offered by the law Lagarde, effective the end of 2010, which allows them to not go before the judge for approval of a plan to erase debt. The number of recommendations to erase debt, also called personal recovery proceedings without liquidation (the judge orders the sale of household goods over-indebted if any) has been increased almost tenfold between 2010 and 2011 . As a result, the number of recommendations approved by the judges jumped 30% to 48,797 in 2011.Parallèlement, the number of cases referred to committee by the judges was down 22% in 3549.

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.

More than one in two French (56%) spend more than nine hours in the office according to a study of the company Regus, which specializes in work areas. It is 10% more than the British or the Americans. According to Regus, 14% of the French work more than 11h, against 10% abroad.

The French do they work less than others? No, clearly meets the company Regus, a provider of workspaces. She has just completed a survey of 12,000 companies, working in some sixty countries. And she said, 56% of French people spend more than 9 am at work, against 48% for the average of other nations. In comparison, 46% of the British and Americans work more than 9 hours, 32% of 47% Chinese or Japanese. Germans (59%), Indians (55%) and Brazilians (60%) are in turn more likely to work as hard.In France, the overuse of long-term work could have a negative impact on both health assets and productivity as a whole in that overworked employees are at risk of becoming dissatisfied and suffer a real imbalance between the private and professional sphere "commented Frédéric Bleuse, CEO of Regus France.

And internationally, are teleworkers (broadly those with no fixed office) that are most likely to spend 11 hours a day at work. Not under 14% do so, against 6% for office workers fixed. They are also more likely to take work home at night to finish it. Indeed, 59% of teleworkers work at home win more than three times a week, as against 26% for office workers fixed.

Hermes currently finds no sign of spending restraint to its customers despite a darkening economic outlook, said Sunday the manager of the French luxury group on the fringes of Paris Fashion Week.

"At the moment, there is no impact on our sales," said Patrick Thomas told Reuters, adding that think the purchasing power of customers in the luxury had not yet been assigned.

"The fact that it does not see today does not mean it will not happen", he warned, however.

"When there are moments of macroeconomic concerns, it always results in our businesses."

The values ​​of luxury was heckled last week in the markets, amid concerns about the evolution of the Chinese market and the strength of demand for luxury goods in slowing global economy.

Patrick Thomas, however, has sought reassurance about the level of sales of Hermes in September. "September went well," he said.

In addition, the manager of the saddle on the Rue du Faubourg Saint-Honore said Hermes would soon create the family holding to sanctuaries a majority stake in the group face to the appetites of LVMH.

"It'll be soon. There are many administrative procedures," he said.

European shares opened slightly lower Tuesday, extending the trend of the previous day, while Standard & Poor's lowered its credit ratings on Italy, where the market nervous, fearing a lack of Greece.

Banks are again in the first line, after a report in the Financial Times that the German group Siemens withdrew 500 million euros in a major French bank to transfer them to the European Central Bank (ECB) two weeks ago .

At 9:07, the CAC 40 index down 0.33% to 2930.23 points.

The London Stock Exchange lost 0.47%, 0.22% Frankfurt and Milan 1.05%.

The Euro Stoxx 50 was down 0.27%.

No support plan in Cyprus is being discussed, said Thursday the European Commission, following the deterioration of the country's rating by Fitch.

"The Cypriot economy is basically sound.We must make certain decisions on the reforms (but) no aid plan is under discussion at any level whatsoever, "said a spokesman for the EU executive.

Wednesday, Fitch lowered its rating two notches on Cyprus, "A-" to "BBB" with negative implications by estimating likely that the country is seeking foreign aid to ensure its funding requirements, which would make the fourth member of the euro area to request an international bailout.

The downgrade occurred on days when the Cypriot government introduced an austerity plan of 600 million euros, which aims to reduce the public deficit to 2.5% of gross domestic product (GDP) in 2012.

According to Bercy, the index of the quality of care in the state services has been improving by three points in the second quarter. The overall index of satisfaction of users reaches 81%. Event officials in Paris in January 2009.

The quality of public services is improving, with an index up slightly to 81% (1% compared to March 2011), as the third barometer made by the Department of Budget and released Monday. The general revision of public policies (RGPP), resulting in the non-replacement of an official two retiring, aims to improve the quality of services. To evaluate this, indicators have been established in hundreds of services and users from 3000 to measure the reception, processing of service and claims processing.

According to Bercy, the index of the quality of care in the state services has been improving by three points to 57% (against 54% in March 2011). However, it is down sharply for replies to emails within five working days to 49% (-11 points), for referral to the right service to 62% (-7) or responses to a phone call least five rings in 77% (-3). For treatment approaches, the university and employment center are good students: 61% of first vows satisfied (17%) in the direction of the university, and 95.5% (+9.5%) unemployed compensation within 15 days.

The process to obtain a passport in less than two weeks (91%) or housing assistance within 15 days (83%) increased by one point over March 2011.Eight other indicators remain stable: 77% of patients (to a target rate of 80%) are covered in less than four hours emergencies, the average response time of police in case of attack is 13 minutes, 85% of people retiring received a record of career fair.

Applications for correction to tax are satisfied, 95% a month to month and the average time for reimbursement of care leaves by social security remained stable (3.3 days per mail, 10 days for paper).

Michel Sapin, the Socialist Party national secretary for the economy, said the refusal of registration to vote Socialist in the Constitution a "golden rule" budget. He said the government seeks only to make us forget its responsibility for the explosion of deficits. Michel Sapin, MP PS here in 2002. The Assembly should be adopted Wednesday the bill which provides for constitutional reform to include in the Constitution "framework laws to balance public finances" three-year program budget efforts that France must provide to clean up its accounts. The senators said their content, indicating that they "set as an annual spending limit and a minimum of new measures relating to revenue." Prime Minister Francois Fillon has expressed support for his part Tuesday in a meeting of Congress to vote for this bill.Interview with Michel Sapin, the Socialist Party national secretary for the economy. Why socialists preclude inclusion in the Constitution a "golden rule budget"?

Because it make an extremely serious matter, the recovery of public finances of France, a purely political purpose. It is a communication operation of a government that, since taking office, exploded the deficit. The objective is to the left in difficulty. We will not fall into the trap.

In defense of the government, exploding deficits is it not due primarily to the economic crisis?

Wrong! Only a third of worsening deficits in recent years is cyclical. The remaining two thirds are structural. The government sealed the deficits by cutting taxes for the rich.

Nicolas Sarkozy has recently criticized the socialist project in 2012, which will result in his debt to explode …

This is the first arsonist who wants to believe he is the fire chief! The economic framework of the socialist project provides an inversion of the curve of debt in 2013-2014 and a return to a deficit to 3% of GDP to more or less the same horizon, depending on the situation in France will be the 2012. Our commitments are consistent with current government promises. The difference is how we reduce that debt. We are committed to achieving a socially just, that is to say by ending tax breaks enjoyed by the rich and stimulating growth.

Which candidate for the Socialist primary emblem you best embody this commitment?

One who shows the strongest commitment to the fiscal consolidation is François Hollande.

NYSE Euronext's shareholders Thursday approved the takeover of the U.S. and European exchange operator by its German rival Deutsche Börse.

The proportion of voters who said yes is about 96%, representing 65.6% of the capital, given the preliminary results.The final statement is expected on Friday.

The merger of $ 9.4 billion also requires the affirmative vote of 75% of the shareholders of Deutsche Börse by next Wednesday, and endorsed by the European Commission.

The German exchange operator Deutsche Börse welcomed the outcome of this election but not the works council has recommended that shareholders do not vote for a transaction that, in his opinion, "penalizes" the company.

For him, it amounts to a "reverse takeover" which does not give enough consideration to the interests of the shareholders of Deutsche Börse.

What the CEO of NYSE Euronext Duncan Niederauer responds: "I have not met a single shareholder in Deutsche Börse, which does not support the transaction."

Both places say that the merger between the two operators is a transaction between equals. Duncan Niederauer to be CEO of the new entity but Deutsche Börse must have 10 of the 17 members of the board.In addition shareholders have about 60% of the company is registered in the Netherlands.

The reconciliation between the two places was announced in February as part of a vast movement of concentration in the sector.

NYSE Euronext had been against a range of Nasdaq-OMX Group and IntercontinentalExchange his partner in April, but both backed off after the rejection of this operation by the U.S. Department of Justice, for reasons competition.

The NYSE Euronext shares gained nearly 3% at midday. Deutsche Boerse closed up 2.4%.