The New York Stock Exchange ended down 0.21% Wednesday, the Dow Jones industrial yielding 30 points to 10835.13 23.01 points.
The S & P-500, wider, lost 3.00 points, or 0.26% at 1144.70 points. The Nasdaq Composite fell on his side of 3.03 points (-0.13%) to 2376.56 points.
These data are likely to vary even slightly.
The group Axel Springer has officially filed Tuesday its takeover offer for SeLoger.com with the Autorité des marchés financiers (AMF), at a price of 34 euros per share.
The title of expert on Internet ads, which had closed Monday at 37.53 euros, has been suspended since Tuesday morning at the Paris Stock Exchange, until further notice.
The German media group, which owns the tabloid Bild, already holds 12.4% stake in the site, acquired from its existing shareholders at 34 euros per share.
Since the announcement, September 10, the proposed acquisition of SeLoger.com, the title of the French company has always traded at a price level well above the price offered by the German group, in a market that seems to bet a cons-offer.
But according to many experts in mergers and acquisitions, equity investment already made by Axel Springer made such an operation not easy.
The supervisory board of SeLoger.com rejected the offer on September 15 to 34 euros per share offered by Axel Springer in saying it did not reflect the intrinsic value of the company nor its prospects for growth.
The divisions on the nature of sanctions to enforce budget discipline in the EU should continue next week, while the finance ministers of the Twenty-Seven will gather for three days in Brussels and the Commission will make proposals in this area.
Monday's meeting of the task force chaired by Herman Van Rompuy, the EU executive's proposals on a new sanctions regime and the informal Ecofin Council on Thursday and Friday should lead to the most significant reform of the Stability Pact and growth since its inception in 1997.
But the institutional differences between countries and could eventually lead to a cosmetic reform.
"The last meeting (Finance Ministers) showed large differences.They are likely to appear again next week.The debate is raised in temperature (…) But progress is never negative, "said one European diplomat.
A second diplomat with knowledge of the discussions indicated that many topics were "still not settled" and that it was ministers Monday in having a political discussion on these issues.
After the debt crisis that hit the euro area in spring, Germany demanded the countries of the euro a thorough reform of the pact, with the introduction of financial sanctions and enhanced features in order to impose discipline budget on the continent.
The economic rebound recorded in Europe in the second quarter and the resistance of several countries punishments too severe, however, have largely hindered progress on this issue in recent weeks.
FILING FINANCIAL
Among the issues to be discussed and that the Commission will face Wednesday, according to EU sources, the establishment of a financial deposit of up to 0.2% of GDP of a country when it fails to meet its obligations of the deficit and debt.
It would freeze up through the disbursement of funds to European countries and would be released only after the country would have come back below the 3% deficit and 60% of public debt as stipulated in the Stability Pact .
The new sanctions regime would be complemented by a close monitoring of macroeconomic imbalances and competitiveness through the introduction of an array of indicators which would be also associated with a financial filing system.
According to the proposals of the Commissioner of Economic and Monetary Affairs Olli Rehn, the sanctions would be decided in a much more automatic as the States concerned should now provide a qualified majority to prevent it.
This is so the bloc, as happened in the past, are not tempted to be too lenient towards each other.
Finally, for legal reasons, this new device is reserved for members of the eurozone, and the ten countries that do not use the single currency would be covered by warnings that have pursued these sources.
Time envisaged political sanctions such as withdrawal of voting rights at Ecofin, were not finally selected by either the Commission or by the Twenty-Seven, they have yet specified.
OPEN QUESTIONS
Olli Rehn said he hoped the legislative package would receive "broad support" and could be implemented next year, along with the preliminary study of national budgets in Europe, endorsed in early September.
But the Commission has angered the Member States in deciding to present his proposals without awaiting the outcome of the working group chaired by Herman Van Rompuy.
"If what we are doing is useless, then there will be trouble (…) If decisions involved Monday, the Commission will take them back," they say in one of the major capitals of the euro area, where it also stresses that many questions remain open.
"Take the debt criterion. The Commission said 'yes' to sanctions but member states want to know the details. Is it the absolute level of rate reduction, sustainability in the medium and long term.That subject, for example, is far from unanimous, "says one.
"For the majority reversed, does one speak of a simple majority or qualified? As for sanctions, be they financial or reputational? All this is not consensus. Ministers should talk."
Another difficulty: Germany wants to link this issue to the discussion which will open on creating a permanent mechanism for crisis management so that sanctions should not be watered down, what to refuse a majority of states.
The Brazilian state has increased from 40% to 48% its stake in oil company Petrobras in favor of its capital increase record, said Friday finance minister Guido Mantega.
The sovereign fund of Brazil's national development bank BNDES and several other public companies have also supported the operation, which totaled $ 70 billion (52.5 billion euros), an amount unprecedented in the history, the minister added.
"The operation was a success, exceeding expectations in a difficult moment, because there is always a crisis in the world," said Guido Mantega to reporters during a ceremony at the Exchange Sao Paulo.
The oil company announced Thursday it sold 1.87 billion of preferred shares 26.30 reais each and 2.4 billion shares to 29.65 reais.
The capital increase should allow Petrobras to fund a very important program that focuses on investments in oil exploitation offshore fields beneath the salt in Brazilian waters.
Petrobras common stock opened higher by 0.4% to 30.38 reais in Sao Paulo Stock Exchange.
Wall Street closed lower Wednesday in the wake of the technology sector as investors were disappointed by the forecast results announced by Adobe Systems and by the increase in dividend from Microsoft.
The Dow Jones industrials surrendered 30 21.72 points, or 0.2%, to 10,739.31 points. The S & P-500, wider, lost 5.50 points, or 0.48% to 1134.28 points while the Nasdaq Composite fell 14.80 points for his side (0.63%) in 2334, 55 points.
The statements of the conservative Federal Reserve after its last meeting, paving the way for additional injections of liquidity, have also thrown some stakeholders.These were expecting more optimism about the economy after the stock market higher in recent weeks.
On Monday, the eve of Fed meeting, the S & P closed at a high of four months.
The U.S. central bank has also expressed for the first time openly fears about the state of inflation, which has benefited the assets sensitive to rising prices such as gold, at the expense of stock prices.
The precious metal reached a record above 1,295 dollars an ounce and U.S. bonds to 30 years have won a point, pushing down yields to the lowest in three weeks, the market anticipating a gain on redemption of debt by Fed as part of its measures to support the economy.
ADOBE tumbled
"The Fed has somehow left the market in the expectation about the extent and nature of its action," said Jeff Kleintop, market analyst at Financial LP.
"The only thing the market is convinced that the Fed wants more inflation and it generates demand for inflation-sensitive assets like gold and commodities to escape the stock market," adds there.
The technology sector has ended in retreat in the wake of Microsoft, which sold 2.15% to 24.61 dollars after announcing an increase in its quarterly dividend.
Adobe Systems has also tumbled by 19.03% to 26.67 dollars, the largest contribution to the decline in the S & P and Nasdaq, after announcing a forecast of sales below expectations, leading analysts to downgrade their title opinion.
"Clearly, Adobe is a disappointment," said Michael James, a broker at Wedbush Morgan. "This has some impact. The Nasdaq underperformed the rest of the market but I think it also has to do largely with Microsoft."
Conversely, Alcoa took 4.74% to 11.70 dollars, the largest increase in the Dow Jones.
The cereal manufacturer General Mills has earned him 2.69% to 36.63 dollars after posting a quarterly profit slightly better than expected.
Starts of homes in the U.S. rose more than expected in August, reaching their highest level in four months, as well as new building permits are supposed to prefigure the development of construction activity.
These figures suggest that there may be an early stabilization of the real estate market in the United States.
The Commerce Department reported Tuesday an increase of 10.5% – the highest growth since November – Starts at 598,000 annualized and seasonally adjusted data (SDA). In addition, the July increase was revised downwards, from +0.4% +1.7% cons given an initial estimate.
Analysts polled by Reuters had expected 550,000 units.Over one year the increase was 2.2% in August.
Building permits rose 1.8% to 569,000 units, after falling 4.1% in July, while the market was expecting 560,000.
The accommodations are in a finishing up 5.6% to 603,000, their highest level since the month of June
The German state should sell its 25% stake in Commerzbank, the second largest bank, by three or four years, told the newspaper Bild am Sonntag, the German Minister of Economy, Rainer Brüderl.
The German state took 25% plus one share stake in the bank in January 2009, during the financial crisis, and Rainer Brüderl said in the German Sunday newspaper that the state should get out "within three or four coming years. "
As of Hypo Real Estate nationalized during the financial crisis, and said Saturday night that provided $ 25 million bonus to its employees for the year 2009, the minister said that an outflow of the institution's capital would take more time, without establishing a timetable.
Rainer Brüderl also approved a consolidation of regional banks in Germany.
"One or two more regional banks as institutions should be sufficient to protect the savings," he said.
Regarding the labor market, the economy minister said that if the current economic recovery continues, Germany could find itself in a situation of full employment, or with an unemployment rate of 4% or less, the next four or five years.
The U.S. Secretary of the Treasury, Timothy Geithner, pledged Thursday to find allies to encourage China to reform its exchange rate policy, which Washington says supports Chinese exports.
Geithner said the U.S. would benefit from the G20 summit to be held in November in Seoul to try to rally other countries and encourage Beijing to accelerate the pace of yuan appreciation.
"We expect that China's policy of exchange rate is at the center of attention" at the G20, said Geithner, speaking before the U.S. Senate Banking Committee.
'This is the general interest of China's trading partners to be on a footing of equality ", he added.
The threat to bring the Chinese monetary policy before the G20 could underline the willingness of the Obama administration to use "all available tools" to encourage the Chinese authorities to act quickly. But it could also rekindle tensions before and during the meeting of leaders of most developed countries.
U.S. lawmakers have expressed support for retaliatory measures against China, which might include increased taxation of Chinese products to force Beijing to let its currency appreciate.
European shares ended down Wednesday after a roller-coaster session, disappointing statistics in the United States have prompted investors to exercise caution while the lower barrel weighed on the energy sector.
In Paris the CAC 40 surrendered 18.76 points, or 0.5%, to 3755.64 points.
"The market is beginning to look overbought right now after the surge that we observed. Some consolidation or some profit taking is not a surprise," said Mike Lenhoff, Brewin Dolphin analyst market.
The energy sector is the main loser of the session, weighed down by the sharp drop in oil prices.BP, Total and StatoilHydro have lost between 1.03% and 2.67%.
AstraZeneca dropped 1.09% after announcing that the approval by U.S. authorities of its drugs Brilinta be delayed three months.
The auto sector, however finished in the green. Renault acquired 1.82% after the intervention of Japanese authorities on the foreign exchange market to stem the rising yen, which should benefit the export of Nissan, partly owned by the French manufacturer.
PSA Peugeot-Citroen jumped 3.94% after raising the recommendation of Morgan Stanley on the title to "overweight".
Consumer prices rose 0.2% in August compared to July to receive up 1.4% year on year, according to data released Tuesday by the INSEE.
In July, the index of consumer prices (CPI) was down 0.3% from one month to another for an annual rate of 1.7%.
The HICP HICP, which allows a comparison at European level, rose 0.2% to an annual inflation rate of 1.6% against 1.9% in July.
Eighteen economists surveyed by Reuters had expected an average increase of 0.4% of the HICP index, calculated for an annual rate of 1.7%.
"The rise in the price index in August was mainly due to higher prices of manufactured goods related to the end of summer sales and increasing prices is also seasonal services," explains INSEE said in a statement.
"These increases are offset by lower seasonal fresh produce," the statement said.
Seasonally adjusted, the index of consumer prices is also stable in August (+1.4% yoy).
The energy prices are stable, higher electricity prices being offset by lower oil prices.