International Business News

European shares ended Friday declined, while Wall Street turned down, in a context that is marked by fears about the crisis in the eurozone.

In Paris the CAC 40 finished down 0.13% (3.99 points) to 3,008.00 points. The Paris index lost 3.89% on the week and 4.8% since the beginning of the year.

The UK FTSE dropped 1.33% and 0.60% the German Dax, while the pan-European FTSEurofirst 300 index ended down by 1.18% to 969.81 points, at lowest since December.

Going against the trend, some banks have rebounded, including Santander (2.97%) and BNP Paribas (2.94%), supported by the rumor of a reintroduction of the ban on sales to die covered on banking stocks.

Fitch downgraded the ratings on Thursday night in Greece, citing the growing risk of leaving the country monetary union, while Moody's has downgraded 16 Spanish banks, citing the ability reduced by the Spanish state to help them. 

On Wall Street, the entrance of Facebook on the Nasdaq has temporarily obscured the uncertainties created by the political situation in Greece. But the market turned downward, and the action of the first global social network, which debuted at 42.05 dollars, quickly erased its gains to return around its IPO price of $ 38.

The number of new firms declined 9.8% in France in April after rising 8.3% in March, according to data released Wednesday by INSEE. A total of 46,042 enterprises have emerged in April.

Start-ups fell by 9.8% in April compared with the previous month if one takes into account the self-entrepreneurs, announced Wednesday the National Institute of Statistics and Economic Studies (INSEE).

Excluding self-entrepreneurs, the balance of new firms declined 3.5%, adjusted for seasonal variations and the number of working days, INSEE said in a statement. A total of 46,042 enterprises have emerged in April, among which, when adjusted, 20,035 companies "classic". The self-contractors are responsible for more than a creation of two businesses (26,007 seasonally adjusted).  

INSEE said do not know enough about the seasonal pattern of self-entrepreneurs, the regime created relatively recently (January 2009), to correct the number depending on the season. The cumulative number of creations in the months of February, March and April 2012 is up slightly over the same period last year (0.8%).

The sectors contributing most to this increase were information and communication and construction. The number of start in the 12 months ended in late April is down from the previous 12 months (-4.0%).

The U.S. places have opened on a slightly downward Thursday, torn between statistics on jobs better than expected and concerns about U.S. consumer Publications mixed after several distributors.

In early trade, the Dow dropped 0.08% to 13,258.81 points. The Standard & Poor's, wider, yielding 0.11% at 1400.55 points while the Nasdaq composite lost 0.23% to 3052.65 points.

The number of jobless in the U.S. fell more than expected during the week to April 28, showed the figures published by the Labor Department.

But concerns over consumption weigh on the market, while according to data compiled by Thomson Reuters of 15 distribution groups that have published their sales figures, seven were worse than pre ; seen by consensus.

U.S. investors did not react to the announcements of the ECB and its president Mario Draghi. The central bank has maintained the status quo on rates.

Values, Costco Wholesale fell by 1.3%. The U.S. distributor saw sales grow by 4% in April on a comparable basis, while analysts expected a more pronounced increase of 5.1%.

In the same area, the retail giant Home Depot fell by 0.6%, the largest decline in the Dow Jones.

General Motors gave 0.7% after surging more than 6% in pre-market trading. The automaker reported earnings higher than expected in the first quarter, driven by strong demand in North America and a smaller loss than expected in Europe.

Kensey Nash Corp. soared 32.4% after the announcement of its acquisition by the Dutch group of food chemistry and DSM for $ 360 million.

Wall Street ended higher Friday, as a result of strong corporate earnings often, especially high tech values ​​such as Amazon. Com and Expedia began to counterbalance the economic indicators for the less mixed lately, like the GDP released Friday.

The Dow Jones gained 23.69 points (0.18%) to 13,228.31. The S & P 500 is 3.38 points (0.24%) to 1,403.36. The Nasdaq Composite gained 18.59 points (0.61%) to 3,069.20.

Over the whole week, the Dow shows a gain of 1.5%, the S & P 500 gained 1.8%, while the Nasdaq 2.3% advance.

The Dow and S & P and enroll their weekly gain the highest since mid-March. For the Nasdaq, is the more substantial gain since early February.

Of the 287 companies in the S & P 500 that have published their accounts, 73% of the students have exceeded the consensus, according to Thomson Reuters data.

The gains of the day, even though moderate minimal, yet allow Wall Street to make its best weekly performance since more than a month.

Growth of the U.S. economy slowed in the first quarter mainly because of declining business investment, although the strength of the automotive market has helped ease the movement.

Another statistic was published on Friday, held better than GDP. 

The U.S. consumer sentiment improved slightly in April to its highest level since February 2011, according to final data from the monthly survey Thomson Reuters -University of Michigan.

Values, Amazon.com and the online travel agency Expedia surged 15.75% respectively and 23.54%, the two companies that reported results Thursday at the higher consensus and having allowed the Nasdaq Composite to register a gain slightly higher than the Dow or S & P.

Procter & Gamble lowered its earnings forecast Friday yearly because of the fragility of developed markets, more aggressive pricing of its competitors on certain products and pressure on prices in Venezuela in particular.

The action yields 3.63%. 

Ford announced Friday a drop in quarterly profit, a result of his difficulties outside of the U.S. market, but the results exceeded the expectations of investors.

The action coward 2.27%.

Chevron released Friday net profit up 4% in the first quarter, boosted by higher oil prices and improved margins in its refining background of declining its oil and gas.

The action ended unchanged.

Merck published Friday quarterly earnings slightly above expectations, boosted by tighter control of costs, but revenue has however disappointed expectations facing generic competition.

The action eventually stationary.

The consortium led by Russia's Gazprom to develop the giant Shtokman gas field in the Arctic in June will announce an overhaul of this project, which accuses several years of delay, have we learned from several sources within the consortium, industry and Russian authorities.

Gazprom and its allies in this project, which include the French Total and Norway's Statoil, plan to give up on the Shtokman gas transit to Europe through pipelines in favor of production liquefied natural gas (LNG), the sources explained.

They stated that no decision on this point had been adopted so far, but several sources have said that the consortium had canceled all tenders already started to build. 

A redesign of the project could result in a delay in the production field, currently scheduled for 2016.

"For now, the technical configuration of the project not suitable for any of the shareholders, so they are not willing to take a final investment decision," said a source in the consortium.

Signing a new agreement could intervene at a meeting of investors in St. Petersburg in June, she added.

"After that one year might be necessary before a final investment decision. They need time to launch new tenders and find new suppliers. "

The Tokyo Stock Exchange ended down 0.82% Thursday, erasing gains from yesterday in the wake of Wall Street, investors fearing the results of a major auction of Spanish debt provided in the Day.

The Nikkei lost 78.88 points to 9,588.38 points and the Topix broader, yielded 5.14 points (0.63%) to 814.13 points.

At the opening, investors reacted to the downturn on Wall Street by making clearances. But following the publication of figures in the trade balance of Japan, a weaker yen on the foreign exchange market helped limit losses.

The downturn in the Japanese currency has allowed exporters including Toyota and Nissan to earn 0.9% and 0.24%.

Japanese exports rose in March at an annual rate for the first time in six months, mainly due to inflows into the United States but the high price of its crude imports weighs on its trade balance, back into the red.

The Spanish government Friday unveiled a package of measures to fight against tax evasion, as the country seeks to achieve its fiscal targets and avoid the need for economic aid external.

According to several independent economists, the economy in Spain represent almost a fifth of gross domestic product (GDP), many Spaniards at work using black and pre ; ferring cash payments.

The government proposes to ban cash payments for amounts exceeding € 2,500 and require taxpayers to report assets held by them abroad.

Violators would face fines. 

According to Cristobal Montoro, Spanish Minister of the Treasury, these measures will enable the government to increase its revenues, though he declined to quantify the expected amount.

Madrid announced on March 30 to drastic budget cuts to achieve 27 billion euros in savings and convince markets that the country is able to reduce its deficit and avoid seeking international assistance.

The limit on cash payments will not apply to individuals who are not habitually resident in Spain or to tourist spending.

"This is to encourage tourists who bring foreign currency in Spain and want to spend in Spain," explained Cristobal Montoro. 

The tourism industry represents nearly 10% of Spanish GDP and remains one of the few sectors still able to sustain an economy as moribund.

As to measures affecting property held abroad, they will target the bank accounts, life insurance policies and actions. A fine of at least 10,000 euros will hit the undeclared goods, warned the government.

European shares declines sharply at mid-session Tuesday, after a long weekend by Easter, the statistical disappointing U.S. employment numbers in March and in Halftone China's foreign trade darkening global economic outlook at the time opens in the U.S., the earnings season.

In Paris, shortly before 13h, the CAC 40 lost 1.43% (47.37 points) to 3,272.44 points. In Frankfurt the Dax gave 1.06% and London, the FTSE fell by 0.95%. Pan-European Eurostoxx 50 index gave up 1.31%.

The Euro Stoxx 50 index of volatility, the main barometer of investor nervousness in Europe jumped 12% to its highest in five weeks.

The sectors most dependent on exports to emerging markets, including automotive and mining, are among the largest declines under the impact of slower growth in Chinese imports. Peugeot lost 3.7%, 3.6% Renault.

Wall Street is expected to rebound in the opening in the light of index futures in New York advancing 0.1% to 0.35%.

European shares ended Wednesday at their lowest closing levels for three weeks, concerns about U.S. growth and the fiscal situation of Spain showing the above.

In Paris the CAC 40 lost 1.14% to close at 3430.15 points, just below its 50-day moving average and its lowest in March 23.

The London Stock Exchange yielded 1.03% and 1.13% in Frankfurt. The benchmark index of the Madrid Stock Exchange dropped 1.96%.

Of the European indices, the Eurostoxx 50 was down 1.13% to 2,496.68 points – in its 50-day moving average – and Eurofirst 300 lost 1.02% to 1,072.48 points – just above his own.

"The markets were down with the bank, especially Spanish because of sluggish economic outlook in Spain, and durable goods orders subdued in the U.S.," said Alexandre Le Drogoff, manager special ; cialist of technical analysis in Talence Management.

He believes that the next support is at 3396 points for the CAC 40 or the "gap" opened on March 8, then from 3350 to 3360 points, its lowest points in February and March. 

As for values, Total (-1.4%) again weighed on the CAC 40, as before, following the gas leak on one of its deposits in the North Sea.

Bank stocks were cyclical and the most affected by the current sales, including Spanish banks Banco Popular, which lost 3.31% and Bankia which lost 3.61%.

Oil prices fell back, Brent losing 1.3% to 123.92 dollars a barrel, after rising more than expected U.S. inventories last week.

The German Finance Minister Wolfgang Schäuble has admitted for the first time Monday that the initiative to introduce a tax on financial transactions in the euro area was bound to e failure.

"We simply can not do it, even in the euro area alone," said Schaeuble in Berlin, referring to the Franco-German initiative to bail out of public finances with by the financial crisis. "We will therefore try something else."

Britain and other European countries do not support this tax, commonly known as "Robin Hood Tax," he said Schäuble, adding that the establishment of such a tax n ' was conceivable that across the EU.

A working paper of the European Commission is the basis for thinking of this tax, which could raise up to 57 billion euros, mainly from London, the leading financial center of the EU.

France must introduce in the coming months its own tax, similar to stamp duty imposed on the London stock exchange transactions.