Very bad trading day Wednesday for the title again BP. In London, the stock fell 4.24% to 391.55 pence. On Wall Street, the same day, the stock has tumbled 15% to just 29 plsu dollars.Pour many observers, the cost of the oil spill in the Gulf of Mexico is likely to jeopardize the very existence BP. "The action suffers now fears the very future of BP. It is no longer just a noise reduction of the dividend. Now it's survivability in question, "said Jon Najarian, founder of the news website optionMonster.com.
At the London Stock Exchange, the fears were mostly related to the fact that BP would eventually suspend payment of its dividend. "We are resigned to the fact that there may be a suspension of the dividend," said Tony Shepard, an analyst at Charles Stanley, quoted by Reuters.
Last Friday, though BP has reaffirmed its intention to announce to its shareholders on July 27 the amount of its interim dividend by way of the second quarter. Dividends paid by the group representing some 10.5 billion dollars (8.7 billion euros) per year.
Yet another bad news for the oil group that is not due to his inability to pay, but the fact that the U.S. authorities there are not favorable payday advance. "It does me no problem that BP complies with its legal obligations (to its shareholders, Ed), but I want them to know they have a moral and legal obligations here in the Gulf, warned Tuesday Barack Obama.
The U.S. authorities have also sent an ultimatum to compel them to BP by unveiling its plans to 72 hours to stop the leak.
"BP must state its plans for its parallel initiatives ongoing and alternative oil recovery, including establishing a timetable within 72 hours after receipt of this letter," says the letter from the admiral-cons Coastguard James Watson chief operating officer of BP, Doug Suttles, and dated Tuesday.
With the installation of a funnel, BP has accelerated since last week the recovery of oil leaking from the wells to 1,500 meters below the surface of the water for more than seven weeks. But the water continues to move towards the U.S. coast and crude oil continues to flow.
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The U.S. investment bank is once again slammed. After being accused of fraud by the SEC, the policeman of the American Stock Exchange, Goldman Sachs is now summoned by an American committee. The Commission of Inquiry on the financial crisis (FCIC) which, by its investigations, seeks to identify the roots of the financial crisis, accuses Goldman Sachs of failing to comply in a timely manner to requests for disclosure and interviews.
The institution would, according to the FCIC, responded voluntarily incomplete and unsatisfactory to queries. Members of the Commission indicated that, after having asked some very specific, it had received investment banking unreasonable volume of documents, nearly 2.5 billion Web pages without an index, which does not meet questions."Our view is that they were very unhelpful, they do not provide us the documents we requested," said its chairman Phil Angelides.
The leaders of Goldman Sachs categorically deny these accusations. A spokesman for Goldman Sachs said the bank "continues to provide the information requested FCIC.
The euro has pushed the bar of $ 1.21 Friday shortly before 13:30, then the 1.2 dollar after the closure of European markets. 21heures rating it to 1.1976, the European currency had not been at these levels since late March 2006, more than four years. A floor that makes investors fears Wall Street unscrews, w ith a Dow Jones loose around 3%.
Investors are fleeing risky currency – which the euro is due to debt problems of several countries in Europe – in favor of safer currencies such as dollars and Swiss francs, while U.S. employment figures , Still selecting highly expected to referee emerged sharply higher, but less good, however, that those expected by analysts.
Including the 431,000 jobs created in May in the United States, on the first four months of the year, the U.S. economy created 200,000 jobs.But in the vast majority of them, these new posts are made through the timely hiring of staff for the census. Excluding this one-time occurrence, the economy created only 20,000 jobs.
These figures "are a blow to the enthusiasm on the global economic recovery," said Joshua Raymond, an analyst at City Index.This means that companies "are not hiring more sparingly and do not yet have enough confidence in the future to engage in massive recruitment," says Aurel BCG.
Fillon drives the point
Just for fun, Francois Fillon has ruled that the continuing fall of the single currency was a "good news", able to boost exports from the eurozone.
The term "parity" – meaning a dollar / euro – used during the press conference as prime minister by Friday precipitated a collapse of the euro against the dollar, forcing Matignon rectify the rooms to calm market.
"When politicians they understand that reviews loans for their candor and local audiences have destabilizing effects on financial markets?" Was upset Michael Hewson, an analyst at CMC Markets.
The comments "do not make any gift to the euro, according to the analyst. "They certainly do not help not to stabilize the single currency (and otherwise) to undermine the credibility of the finest political will to support the euro," he said.
Europe degraded by HSBC
Side debt in Europe, the series continues. On Friday, HSBC has downgraded its recommendation on Europe, excluding the United Kingdom, "neutral" to "underweighted" because "there are still too many uncertainties about the health of banks on the future of the euro on sovereign debt, and growth to take risks in this area now.
Hungary worried
After Greece, Spain and Portugal, the contagion of the disease spreading further public finances in the euro area, Hungary.
The government spokesman who said that about a politician reminiscent of the small countries a chance to avoid a crisis similar to that of Greece were not exaggerated.
Following comments from the spokesman for the government, the forint fell to a lower than a year against the euro traded at 285.75 forint per euro, before slightly rising up around 288 forints .
Hungary is on a drip of 20 billion euros made available by the International Monetary Fund (IMF), the European Union (EU) and European Central Bank (ECB) since the fall of 2008.
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At Transport SNCF, talking about a non-event. Standard and Poor's downgraded by one notch Friday mark the long-term debt of the public company, which went from "AAA" – the highest possible – from "AA +", the prospect is stable. This means that S & P should not lower the rating further in the months to come.
The rating agency justifies this development, which will cost "several million" up interest rates to SNCF, by "the European rules that could make it more difficult in future for possible financial support" of government French in the public company as well as the opening to competition of rail passengers including his lucrative branch TGV."We believe that the most profitable activities of the station will be gradually exposed to competition," explains Standard & Poor's.
Since 1 January, the international passenger traffic is indeed officially liberalized in Europe, pending an opening to competition of domestic traffic, which is expected by 2015. For now, only Veolia announced its willingness to engage in this activity. A perspective that condemns the station eventually to lose market share.
"It remains a very good note"
The SNCF said it was prepared to such an announcement since the "perspective" was negative since September 2008. "It remains a very good score Guaranteed pay day loans.Many European states have not rated AA +, "said David Azema, deputy CEO in charge of finance and strategy at SNCF. The rating agency looks at the level of support that the station can expect from the state. The AAA rating corresponds to a quasi-automatic support in the event of default and AA + to support very highly probable. "
The company refuses to see in this a confirmation that the degradation status of public institution operating in industrial and commercial (Epic) is threatened. The S & P's decision certainly comes just after France decided to take legal action against the EU Commission, which considers the status of Epic necessarily implies an unlimited guarantee from the state, inconsistent with competition who sits in the sector.The rating agency noted that although skirmish between Paris and Brussels, but does not in itself a cause of degradation.
Conversely, the fact that the station has seen its rating lowered even though it is still an Epic could argue along the lines of the French arguments: clearly, the status of Epic does not mean the view of S & P that the situation Financial SNCF blends perfectly with that of the French state.
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New session of decline in perspective the Paris Stock Exchange on Wednesday. If investors follow the Parisian trend driven by Asia this morning, there is little chance to see the CAC 40 bounced in the opening. On Tuesday, the key index in Paris had a meeting very heckled, opening in early fall and then increasing its losses during the session. The reopening of Wall Street after a holiday and good U.S. macroeconomic indicators have helped limit the damage: ACC ended the session on a drop of 0.13%.
But concerns over the resumption of economic growth have resurfaced after the announcement of bad statistics on inflation and real estate in China. A price increase in this sector is feared the creation of a bubble whose consequences could be worse than those of U.S. subprime, according to some economists.
Incidentally, the euro fell to its lowest level in four yesterday during the meeting. On Wednesday, investors will keep an eye on the promises of home sales in April and May auto sales in the United States.
The bank will try to resume
As for values, banking and insurance will be expected once the turn. Very disciplined yesterday, BNP Paribas, Credit Agricole, Societe Generale and Axa will attempt the ascent. In particular they should react to the press conference European Commission President Jose Manuel Barroso, Commissioner for Financial Services, Michel Barnier and economic affairs commissioner, Olli Rehn, the Financial Services No fax pay day loan.The commissioners will present a Green Paper on economic reform of the EU favors a reorganization of the governance of financial institution.
Areva and Siemens would be in the sights of the European Commission according to the Figaro. An expedited procedure against the French and German can be launched for infringement of competition law. This decision falls within the framework of the divorce between the two groups.
This opens in Paris on Wednesday that the trial of Jean-Marie Messier, nearly eight years after his ouster from the chairmanship of Vivendi Universal (VU). The former boss will have to account for its management of media and communications group.
Bouygues has raised its revenue for 2010. Tuesday, the group released an operating profit of 162 million euros in first quarter 2010 and a net profit group share of 181 million euros.The group also indicated that the proposed tram-train the meeting had been finally buried.
EDF said Tuesday that its proposed acquisition of shares from several shareholders of the second Belgian electrician SPE-Luminus, which will own 63.5% of the capital after the transaction was negotiated on the basis of a price 215 million
L'Oreal said it has acquired a new provider of hair salons in the United States for an unspecified amount.
PSA Peugeot Citroen holds its general meeting this Wednesday. Philippe Varin, chief of the manufacturer has to convince shareholders of its development strategy in Asia.
This is an ad that should delight the financial markets Friday, although it was more or less expected, after Spain was rocked by austerity. A foretaste of what awaits the European stock exchanges on Friday, was felt on Wall Street who lost nearly 4% on Thursday night, just missing to descend below 10,000 points. Unheard of for a year!
Contagion Greek-Spanish portugo
The Spanish government has significantly lowered its estimate on Thursday night growth for 2010. The Gross Domestic Product (GDP) should grow as well as 1.3% this year, against a previous estimate of 1.8%.
"The fiscal consolidation process will result in a reduction of forecast growth," said Spanish Minister of Economy and Finance Elena Salgado.The new forecast reflects the austerity measures taken by other EU countries like Greece and Portugal "which can also affect" the Spanish growth, "she added.
Unemployment exceeds 20%
Shortly before the announcement, the Socialist government of Jose Luis Zapatero adopted a decree-law providing for the implementation of drastic cuts in public spending for 2010 and 2011, totaling 15 billion euros.These measures are intended to "expedite the process" of reducing public deficits, which rose to 11.2% of GDP last year.
These new measures will have a "clear social impact," acknowledged the head of government, facing an unemployment rate above 20% of the workforce.
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