The Paris Bourse is a timid step forward on Friday. The CAC 40 in advance of 0.70% in early trade at 3,108.55 points. As in Asia, investors should not take risks when to begin a crucial summit on the debt crisis this weekend. Paris and Berlin have announced that Nicolas Sarkozy and Angela Merkel would meet Saturday in Brussels to prepare an "ambitious and comprehensive response" to the crisis. Concrete measures will be considered and discussed before being taken Sunday during a second peak "no later than Wednesday."
It will then not only to agree on how to increase the capacity of the European Financial Stability Fund (EFSF), but also to review the new rescue plan for Greece.Both countries such as requiring "immediate negotiations" engage with the private sector "to reach an agreement to strengthen the sustainability" of the Greek debt.
Risk of falling
But observers note that deep differences persist between France and Germany on how to reform the fund to support the euro area (EFSF). "There is no joint proposal" European at the moment, acknowledged Thursday the German Finance Minister Wolfgang Schäuble. The President of the European Commission Jose Manuel Barroso called on Europeans to "compromise" to reach decisions "resolved" and "immediate."
Another failure could undermine investor confidence definitely in the ability of Europeans to put an end to the debt crisis and put in a difficult position for the G20 summit in early November."If no agreement is reached, a crisis such as that caused by the collapse of Lehman Brothers can not be excluded," noted Phil Flynn of PFG Best Research.
Meanwhile, in Greece, the violent protests anti-austerity continues. A new law has been de rigueur in the Greek Parliament voted Thursday.
The French note monitored
France, in the heart of negotiations on the future of the euro, in turn, is increasingly monitored by rating agencies. After Moody's, S & P raised doubts about the AAA rating of the long-term debt of the Hexagon. The agency suggests a probable degradation of notes France, Spain, Italy, Ireland and Portugal according to economic conditions.
The government is preparing for his part, revising downwards its growth forecast for 2012 still set at 1.75%.Economists on average expect a GDP growth of 0.9% in 2012.
On the currency side, the euro has stabilized at 1.3795 dollar. Oil prices were, themselves, up in early trade Friday morning in Asia, following the announcement of the death of former Libyan leader Muammar Gaddafi payday advance.The barrel of "light sweet crude" for December delivery gained 71 cents to 86.78 dollars on the New York Mercantile Exchange while in London, a barrel of Brent North Sea crude for December delivery was appreciating eight cents to 109.84 dollars on the Intercontinental Exchange (ICE).
Values to follow
Member States of the European Union agreed Thursday to recapitalize their banks to the tune of 100 billion euros.
Essilor (-0.39% to 50.75 euros)
The world leader in ophthalmic lenses achieved a growth of 6.4% of its sales in the third quarter 2011 to 1.04 billion euros.The group also confirmed its target for 2011 growth of its business "between 6% and 8%" at constant exchange rates and strategic acquisitions, and its goal of stability margin excluding strategic acquisitions.
Safran (-6.90% to 22.47 euros)
The group confirmed its targets for 2011. It aims for 2011 growth of around 6% to 9% of its revenues and 25 to 30% of its operating income. Safran has seen its turnover increase from 5.2% to 2.72 billion euros in third quarter
Valeo (1.61% to 34.16 euros)
The group reported a turnover up 14% in the third quarter to 2.6 billion euros and confirmed its operating margin target for 2011.
Klépierre (1.21% to 21.68 euros)
The group reported a growth of 4.9% of its sales in the third quarter, supported by the increase in rents shopping centers.
France Telecom (0.52% to 12.68 euros)
Orange will acquire 100% of the mobile operator CTC (China Telecom Congo) in the Democratic Republic of Congo, the French group paying $ 10 million (7.3 million) to ZTE for its 51% of CTC and 7 million dollars to the Congolese government for the balance.
Peter and Vanaces (-4.44% to 29.12 euros)
The group reported Thursday a 2010-2011 annual turnover of 1.47 billion euros, up 11.2% on a comparable basis.Solely on the fourth quarter of fiscal year, ended Sept. 30.
Etam Développement (-1.88% to 13.60 euros)
The group released Thursday a quarterly revenue of 269.4 million euros, down 10.7% on a comparbale and constant exchange rates.
OL Group (-0.23% to 4.42 euros)
The group announced Thursday it had reduced its net loss to EUR 28 million for the year ended June 30, against 35.6 million a year ago and have returned to a positive EBITDA (8 , 9 million) "despite a very mixed season in sport."