The pan-European Eurofirst 300 index took 1.11%. In Paris the CAC 40 gained 1.55% (49.12 points) to 3,220.46 points, its highest since Oct. 12.

In Frankfurt, the Dax gained 1.41% to 6055.27 points. The Footsie has meanwhile been 1.08% on the London.

The mining, including Antofagasta, Kazakhmys and Rio Tinto have reached the market, winning all over 7% on the right numbers of Chinese manufacturing activity.STOXX index of European raw materials ends up 5.63%.

"Markets are likely to be very erratic until the EU summit on Wednesday night," warns Thomas, however, Kleb, head of equity sales at SG CIB in Paris, noting also that transaction volumes remain extremely limited.

The euro still progressed and exceeded $ 1.39, on the hope that Europeans will manage to agree on a plan against the debt crisis.

According to a document of the European Union (EU) for the summit on Wednesday, two options should be combined to increase the firepower of the European Financial Stability Fund (EFSF), namely an insurance scheme and a special investment vehicle able to buy government bonds.

Thefts from shops are starting to rebound in France between the mid-2010 and mid-2011, rising 2.9% in value, according to a study published Tuesday, pointing a "professionalization" of shoplifting .The study, conducted in 43 countries by the Centre for Research in the distribution (Center for Retail Research, based in England) from 1187 groups to the security company Checkpoint Systems, as the "shrink", that is ie the difference between theoretical and actual stocks, resulting from theft, but also of administrative errors or suppliers.

In France, the bill for the distributors is rising again, to reconnect with a sum amounting to two years ago, 4.9 billion euros, or 1.40% of turnover, against 4.7 billion euros, or 1.36% of sales a year ago. The equivalent, according to the study of an annual tax of 200 euros per household. Retailers believe that the flights are 44% committed by customers, 30.1% and 7.2% staff from suppliers.

The shoplifting is becoming more professional

"Thieves better information more easily thwart the standard features of security and those who get caught are the thieves who are casual, with smaller amounts," he told AFP Cedric Brossard, marketing director for the textile division of Europe Checkpoint Systems. "There is a professionalization of the flight," which becomes "a real job for some people with real orders," he said, citing "a lot of distributors who believe they have experienced an increase in organized crime." "Whenever there is a new product, it may generate a black market," he added.Conversely, he does not think that inflation on food products has had a significant impact on the increase in theft, noting for example that the coffee was already one of the most stolen.

In Europe, the thefts have increased more strongly than in France, 7.8%, but to a lesser extent, or 1.39% of sales of 36.23 billion euros. The average amount of shoplifting it was down 17.5% to 93.85 euros and the flight staff down 27% to 1,381.4 euros. Globally, the flights were up 6.6% to 88.88 billion euros, or 1.45% of sales distributors, against 1.36% a year ahead. Always at the center of envy, products expensive brands and smaller, easier to conceal and to spare."The flights do not give priority to basic necessities," the study said.

Fashion accessories among the most stolen

Among the most stolen items, fashion accessories, food products high-end such as meals and spirits, articles health / beauty products such as shaving and perfume, or technology products, such as MP3 players and smartphones. In Europe, the increase in shrinkage occurred despite an increase of almost 2% to 8.45 billion euros in spending on security and loss prevention, or 0.30% of turnover Distributors. "Those who have limited or theft managed to bring it down have introduced a multitude of solutions, unfortunately there is not a quick fix," said Mr. Brossard.The number of shoplifters and dishonest employees arrested by the distributors of the year under review exceeded 6 million, according to the study.

"The employment report for this month is also surprisingly good as last month was surprisingly bad. The labor market remains weak and the Fed should not be impressed by this report, which suggests an EQ3 (a third cycle of purchasing government bonds) at the FOMC meeting of November 2, "said Rob Carnell, economist at ING Financial Markets.

The CAC 40 index gained 0.66% to 3095.56 points but under the highest of the day (3126.0) after nearly 8% over the previous two sessions.For the week, the index rose by 3.81%.

London has been 0.23%, 0.54% Frankfurt and Milan 1.29%. The pan-European Euro Stoxx 50 index rose 0.81%.

"The European stock markets appear to initiate a phase of stabilization, as the actions of several sectors (banking, insurance, oil, utilities, telecommunications). This reflects the extremely low valuations of these securities," said Vincent Guenzi, strategist at Cholet Dupont.

Axa (5.10%) finished at the top of increases in the CAC 40, followed by Total (2.85%) and Peugeot (2.56%).

Carrefour (-3.66%) registered the largest decline of the CAC on profit taking.EADS lost 3.32%, hit by the rise of the euro, which fell from 1.3190 dollars late Monday at 1.3485 late Friday afternoon, the day after the announcement of new measures support to banks by the ECB.

In the bond market, the performance of the German government bond (Bund) and 10 years has reached 2%.

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%.

The banks involved are Bank Hapoalim, Bank Leumi le-Israel BM and Mizrahi-Tefahot.

This extension of investigations to Israeli settlements mark an intensification of the fight against tax evasion, which opened in 2007 against UBS and Credit Suisse recently against continued.

However, Israel is a state close to the United States with whom he maintains close diplomatic and military support from more than $ 3.1 billion per year.

Aviram Cohen, spokesman for Bank Leumi in Tel Aviv, said Thursday that "the application related only to statistical data. It appears that these data will be used to an agreement between the Swiss and American. Obviously, the Bank Leumi Switzerland is cooperating fully with authorities in accordance with the law. "

According to the Swiss press, U.S. officials now have statistics of ten Swiss banks suspected of justice by helping their clients based in the United States to evade taxes.

The Deputy Minister of Justice James Cole sent a letter on August 31 asking for statistical information to Swiss banks in September and three Israelis.It gives them until Sept. 23 to provide details of their customers.

UBS has already passed under the yoke of American justice, having delivered nearly 4,500 American identities of customers in addition to the payment of $ 780 million to avoid a trial that had threatened its existence.

The U.S. Justice Department is investigating about the view that Standard & Poor's focused on asset-backed mortgages whose collapse led to the 2008-2009 financial crisis, said Thursday night a source close to the .

Investigation launched by the deterioration of the American note

The survey – which according to the source is trying to distinguish between what the S & P analysts wanted to do and what they were told to do – was launched before the rating downgrade does the United States at the beginning months.

The Justice Department has also conducted a survey of Moody's, one of two main competing S & P on the notes she had assigned to structured products during the crisis, said another source. Asked by Reuters by telephone and e-mail, a spokesman for Moody's could not be reached immediately.

The Securities & Exchange Commission (SEC), Constable of U.S. financial markets, has also opened an investigation into the possible role of S & P, a division of McGraw-Hill, in the crisis, said the first source.Representatives of the SEC and Justice Department have declined comment.

Notes biased on subprime loans?

The New York Times had first reported the investigation of S & P focused on whether the agency had assigned the notes to dozens of biased asset-backed home loans before the financial crisis broke out in 2008. The Justice Department was interested in cases where S & P analysts want to assign notes to some of these assets before being contradicted by leaders of the agency, said the daily.

A spokesman for S & P noted that among the principles guiding the action of the particular agency were "analytical independence and objectivity", adding that the company had taken steps to strengthen the implementation of these principles ."In recent years, S & P has received several requests from various government authorities regarding asset-backed U.S. mortgage. We have cooperated and continue to do so," said the spokesman.

It is currently unclear whether Fitch (Fimalac group), the third major rating agency, is also being investigated by the Justice Department. Neither Moody's or Fitch have lowered their ratings on the United States.

With Reuters.

The hotel, which looks set to record another year of record profits, generated a taxable income of 3.636 billion dollars (2.56 billion euros) in the first six months of the year, against 3.12 billion a year ago and 3.47 billion expected by analysts, according to the Thomson Reuters consensus I / B / E / S.

"Our expenses remain firmly under control (…), Which does not prevent us from start to accelerate investments to support growth in 2012, "said Peter Sands, CEO of Standard Chartered, said in a statement.

"We are a very good momentum and we continue to gain market share on a range of products and in many areas."

In 2010, Standard Chartered, in direct competition with HSBC to attract the best employees in Asia, was weighed down by higher costs higher than revenues.

This year, the bank expects a similar pattern of costs and revenues.

To keep costs under control, many banks have eliminated positions, like HSBC and Credit Suisse, which will eliminate 2,000 jobs and 30,000 respectively.

Standard Chartered has said removing 800 jobs in the first quarter, while providing a net increase of one thousand the number of employees throughout the year.

The bank, whose title listed in London fell by 11% since the beginning of the year, currently has 85,000 employees.

Income from India, its largest market, fell by 39% and Standard Chartered said that the short-term outlook remained difficult in the country, the slowdown will be more rapid and marked initially anticipated.

Elsewhere in the European banking sector, Societe Generale, which has depreciated the value of its debt to the Greek State in the second quarter, has abandoned its goal of Wednesday net profit of six billion euros in 2012, signs of a deterioration of the economic and financial environment.

The luxury group and distribution, which owns Gucci, Puma, Redcats and Fnac, saw sales rise by 7.3% in the first half to 7.2 billion, a figure close to the consensus of analysts polled by Reuters (7 , 13 billion).

Like Hermes, LVMH and Burberry, before him, the luxury division of PPR has far exceeded analysts' expectations, with organic growth of 23.2% and 24.4% in the second quarter alone (against 19% expected), marking a further acceleration from a leap of 22% in the first quarter.

In contrast, the distribution center, to be sold by the group, saw its sales fall by 1.4% semi-annual (on a comparable basis), weighed down by poor performance of FNAC (-3.2%) to facing an extremely difficult environment in France, while Redcats (Distance Selling) fared better (0.8%).

The sporting goods company Puma has seen its sales increase by 9.4%.

Current operating income rose 14.5% to 749 million euros (730 million expected) and net income excluding items increased 24% to 466 million euros.

The title PPR closed at 129.85 euros at the Paris Stock Exchange Thursday, signing a 9% increase since the beginning of the year, for a market capitalization of 16.3 billion euros.

At these levels of price, value is treated on valuation multiples of 13.4 times its estimated earnings for 2012, far behind the "pure" players like LVMH luxury (19 times) and Richemont (16.4 times).

Around 4:45 p.m., the CAC 40 index fell by 1.73% to 3662.40 points, after falling to 3648.76 points, its lowest level this year, weighed down by banking stocks, which represent nearly 13% of benchmark index of the Paris, and the lack of credibility of resistance testing ("stress tests") awarded by the European financial institutions.

"The market reacts to the lack of credibility of stress tests, which have not sufficiently taken into account the potential impact of sovereign risk, although their results were better than expected in appearance," said Stanislas de Baillencourt manager at Sycamore Asset Management.

"This also occurs in a context of uncertainty in the United States on the federal budget negotiations," he adds.

Consequently, according to a graphical analysis, the CAC 40 should continue to decline especially since the index is oversold and that it has opened a new "gap continuation" – gap in transactions between sessions marking the continuation of a trend – after that of Monday.

"CROSS OF DEATH"

This dynamic is reinforced by another important signal seller technically called the "cross of death" ("dead cross"), the moving average 50 days of the CAC 40 was indeed dropped below the 200 day Monday.

The benchmark index of the Paris, which lost nearly 12% since its peak in the year struck in early February to nearly 4170 points, could well fall to a level around 3620-30 points, offering major pivots the last two years, analysts say.

"A break of 3700 points at the close result in a test rack or floor 3660 points in November from 2010 to 3610 points," warned Franklin Pichard, director of Barclays Bourse France stating that only a rebound beyond three.790 points would reverse the current downward trend.

While stressing the attractiveness of current valuations (less than 10 times earnings expected for this year), analysts dismiss a scenario similar to that of stock last year (fall through August and very strong rally late in the years) although the meeting Thursday of the Eurogroup of Greece should be decisive in the matter while the contagion is beginning to reach Italy.

"We could still fall by 10-15% on Thursday today if European authorities do not demonstrate their ability to solve the case of Greece, representing only 3.5% of the debt in the euro area, while the Italy is from 20 to 25% of total European debt, "said Christophe Brulé, president of Entheca Finance.

"This issue (sovereign debt) will not be resolved within a week. This is an issue in the medium to long term that will take years to be resolved," warned his side of Stanislas Baillencourt.