Wall Street closed up on Monday.
The Dow Jones gained 291.23 points (2.59%) to 11,523.01. The S & P 500 is 33.90 points (2.93%) to 1192.57. The Nasdaq Composite rose 85.83 points (3.52%) to 2527.34.
This data is likely to vary even slightly.
European shares were down sharply in early trade, including sealed by the decision of the Greek Prime Minister to submit to referendum the agreement on the resolution of the crisis of sovereign debt in the eurozone.
"The risk is that a 'no' to the Greeks do completely derail the rescue efforts. With a vote expected in January, I can truly say goodbye to the rally of the season," said a trader based in Paris.
The Euro Stoxx 50 index of volatility, a "barometer of fear" in the financial markets, jumped 20% in opening sign of the strong concern room.
In Paris the CAC 40 fell 3.3% to 9:40, passing below the 3200 to 3135 points, weighed by banks.
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.
The former minister mentioned the figure of 15 to 20 billion savings if the state gave shares in France Telecom, Aéroports de Paris, or Renault.
Patrick Devedjian (UMP) has called for Monday to resume the privatization of companies where the State is a party, seeing it as a deposit "of 15 to 20 billion euros."
Europe 1, former Minister launched as an example of struggle against deficits "are repeated privatization. There are considerable resources in terms of privatization."
He shelled several examples: "France Telecom, the state controls 27%. Me, I propose to sell 13.5%. It represents 4.7 billion."
"Airport of Paris. We do not have to keep control as powerful state of ADP. It is 3 billion. Renault, we have 15% of Renault. We sell.Air France we have 15%, we sell, "he said.
"Just on privatization, we can make 15-20000000000," summarized Mr. Devedjian. In more general terms, he said that Nicolas Sarkozy, the best candidate in his eyes to the right must, for the victory in 2012, presenting "an overall important and mind-blowing."
"If it is to have a policy that constitutes a system of patches that we deal with accidents one after the other, it is not convincing," he said. "When I see the left that has no project" is "a chance for our side if we come up with something strong, innovative," said the former leader of the UMP
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%.
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.
Standard Chartered, British bank that makes most of its profits in Asia, reported Wednesday a better than expected taxable income in the first half, benefiting from strong growth in emerging markets.
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.
Faurecia has identified its goals Tuesday in 2011 after a first half marked by strong growth as the automotive supplier will maintain the second half through its investments outside Europe and in countries at low cost.
The specialist for exhaust systems and car seats, including the manufacturer PSA owns 57.4%, achieved a consolidated turnover of 8.15 billion euros in the first six months of the year, a up 19.4%.At constant scope and exchange rates – it has gained particular outside the specialist German automotive Plastal – the growth was 15.5%.
Faurecia's operating profit rose 57% to 340 million, giving a margin of 4.2% against 3.2% a year earlier, and net income, group share, increased by 82% to 185.8 million euros.
"With the strong growth recorded by the group in the first half and improved profitability (…), Faurecia is now a year ahead of its business plan 2010-2014 presented in June 2010," said the equipment in a statement."Growth should remain strong in the second half in all regions and medium term supported by a high level of acquisition of new programs."
In a presentation to analysts, Faurecia said to expect in 2011 a new record in terms of new contracts expected between 13 and 14 billion euros against 13.1 billion in 2010.
The group also raised to 450 million its investment objective for this year, against an initial assumption of 350 million.On behalf of the profitability and international expansion, priority is given to low cost countries, where investments will increase by 89% against 16% for countries where the cost base is higher.
Faurecia has 42 industrial projects under way, eight in Central America and the North – including five in Mexico – twelve in the European area – including nine in Eastern Europe, Russia and Turkey – and twelve in China.
ONE YEAR AHEAD OF PLAN
As part of its strategic plan in the medium term, the equipment is a turnover of 16 billion euros by 2014, driven by an expected average annual growth of 12%, 8% organic growth.Faurecia is also an operating margin of 4 to 4.5% in 2012 and then 5 to 6% in 2014.
In June 2010, he had also set a goal of doubling the share of sales outside Europe makes it to 42% within five years, against 23% in 2009.In the first half, the share of sales – excluding monoliths for catalytic converters that Faurecia bought out – carried out in Europe reached 34%.
For the year, the Group has revised upwards its target of consolidated net sales to 15.7 to 15.9 billion euros, against 14.8 to 15.3 billion expected so far, an increase from 13.8% to 15.2% compared to 2010, and refined to increase its target for operating profit to 620-650 million euros, against a previous range of 580-640 million.
"The results are in line with consensus," said JP Morgan Cazenove in a note."The forecast EBIT is revised up slightly, but remains in line with consensus, while the increase in capex reduced cash flow prospects."
Faurecia has revised down to 100 million euros its forecast net cash flow in 2011, against 200 million euros expected so far.
The action Faurecia closed Monday at the Paris Stock Exchange to 30.34 euros, giving a market capitalization of around 3.2 billion euros. Since the beginning of the year, the stock jumped 40%.
The major French banks, BNP Paribas, BPCE (People's Bank, Savings Bank), Credit Agricole and Societe Generale have passed the stress test bank, said Friday the Bank of France.
The central bank said in a statement that the four banks show a capital adequacy ratio "core tier one" aggregated from 7.5% to end 2012 in the worst economic scenario selected by the EBA (EBA) which stress tests conducted on 91 locations across Europe.
ABE required a minimum threshold of 5% at end 2012.
"Their level of capital is appropriate since in the end allow them to finance the economy even in the most degraded scenario," said Christian Noyer, Governor of the Bank of France.
In detail, Societe Generale shows the lowest ratio of four French banks with 6.6%, while the Crédit Agricole group shows the highest ratio at 8.5%.
