The week starts well for the Asian market. On Monday, all financial markets appear to increase sustained. At the Tokyo Stock Exchange, the Nikkei opened up 1.53% and growth is accelerated in mid-session (1.80%) before finishing on a gain of 2.09% to 10,567.25 points. This is its highest level in six weeks.
The morale of Japanese investors is supported by sound macroeconomic statistics, published Monday. Japan has indeed registered in January of a current account surplus of 899.8 billion yen (6.9 billion euros), after having suffered a record deficit de132, 7 billion yen last year, according to the Ministry of Finance . This figure is higher than the forecasts of economists who were expecting on average a surplus of 750 billion yen.
In addition, Asian markets continue to react positively to the figures of U.S. employment, less bad than expected on Friday.The United States lost 36,000 jobs in February. The consensus of analysts foresaw from 50,000 to 67,000 job cuts. The unemployment rate remained steady at 9.7%, consistent with him, anticipated savings account payday advance . The announcement Friday, coupled with an increase in consumer credit (4.96 billion dollars in January, the first increase in a year), led by Wall Street and European financial centers, close to the green.
Exchanges in the region follow suit
In the wake of Tokyo, the benchmark Hang Seng Stock Exchange of Hong Kong climbed 1.92% to 21,186.09 points. The Shanghai Stock Exchange is 0.74% at 3053.60 points.
The other exchanges in the region follow. Korea's KOSDAQ is up 0.73% to 1267.63 points. The Bombay Stock Exchange posted an increase of 0.92% to 17,150.53 points.The S & P 200 Australian climbing 0.85% to 4807.90 points.
The increased gross
As for commodities, crude prices were trending upward in Asia on Monday. The barrel of light sweet crude for April delivery gained 47 cents to 81.97 dollars, reaching the highest at 82.04 dollars before retreating.
The barrel of Brent North Sea at the same maturity, took 47 cents to 80.36 dollars.
Economic conditions continued to improve in the United States in January-February, "although harsh snowstorms in early February have dampened activity in several regions," according to the Beige Book released Wednesday by the U.S. central bank (Fed).
The document states that the activity has increased in nine of the twelve regions (by cutting the Fed), but that "in most cases, these improvements were small.
The information provided by the Beige Book are very important because they serve as a reference to the meeting of the Monetary Policy Committee of the Fed scheduled for March 16, which will decide on changes in interest rates.
Regarding the labor market, for which the Fed chairman, Ben Bernanke, gave recently bleak outlook before Congress, the document notes that "the pace of layoffs has slowed in most regions, but that hiring plans of companies remain "soft in general."
As for expenditure on household consumption, traditional engine of growth of the country which is struggling to regain its role, they "grew slightly in many areas, but have been hampered in some by the snowfalls of early check cash advance .
Japanese carmaker Toyota, which is considering the recall of hundreds of thousands of Prius cars due to brake problems, may also recall the models and hybrid Lexus HS250h Sai said Monday the Nikkei daily.According to the newspaper, which cited no sources, this measure would cover some 28,000 cars in Japan and abroad (8000 Sai and 20,000 Lexus), with the same braking technologies that Prius.
The Japanese beverage maker Kirin Holdings will continue to seek strategic partners to become a global leading insisted Monday the director general of the group after the breakdown of merger talks with fellow Suntory.
U.S. exchanges are connected to the cautious mode. At the opening, the Dow Jones earns a "small" 0.01%, before the publication of statistics of disappointing, while the Nasdaq lost 0.18%.
The expectation results from Intel, which will be announced tonight after-hours trade, is felt. The day before, markets have been supported by financial stocks and ended the session up support. And this morning, Asian stock markets ended in green.
According to the Fed, interest rates remain permanently low. The Minutes of the FOMC have confirmed a continuing recovery in economic activity, but the country still convalescing.On Wednesday, the United States has issued a budget deficit widened in December, reaching 91.85 billion dollars.
In Europe, the ECB left its key interest rates to 1% on Thursday.
Disappointments side statistics
The number of registered unemployed in the United States was up more than expected during the week ending January 9, according to figures released Thursday by the Labor Department. In data adjusted for seasonal variations, these weekly applications for unemployment benefits rose for the second consecutive week to 444,000 against 433,000 (revised) the previous week.
Another disappointment, retail sales in the U.S. fell against all odds in December, according to official figures released Thursday in Washington, but this masks a bad performance review of their surge up the previous two months.
Sales at retailers and restaurants fell 0.3% in November (data seasonally adjusted), said the Commerce Department, while analysts were waiting up 0.5%, according to their median consensus .
And import prices in the United States remained stable in December compared to the previous month and rose 8.6% over the whole of 2009 due to high prices of energy, according to figures released Thursday by the Labor Department.
Mixed opening for banking
President Obama should present today (noon, local time) measures to facilitate the repayment of public aid for banks and given guidance on the new tax credit. Shortly after opening, JP Morgan Chase gained 1.06% to 44.73%, Bank of America 0.54% to 16.71 dollars. In contrast, Morgan Stanley sells 0.83% to $ 31 and Goldman Sachs 0.69% to 167.90 dollars. Wednesday at the close, Bank of America gained 1.6%, 1.8% JPMorgan Chase, Morgan Stanley 0.4% Goldman Sachs 0.7%. To recall, JP Morgan Chase will release Friday.
Hershey (-3.02% to 36.61 dollars) has proposed a new offer to buy Cadbury, the Financial Times. Off-exchange, as Hershey sells nearly 3%.Cadbury breath as he seeks another buyer that Kraft Foods.
Rio Tinto (+2.54% to 233.94 dollars): the Australian mining group columbia unveiled its production of iron ore rose 49% in the last quarter of 2009, over one year.
The company Zale Jewelry (2.54% to 3.23%, having lost 8% non-Exchange) has seen three of its senior executives leave the group.
Intel (+1.71% to 20.96%) publish, after market, its annual results.
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Four laboratories were sold to the French government 94 million doses of vaccine against influenza A. This is the British GSK for 50 million doses from Sanofi Pasteur French (28 million doses), Swiss Novartis (16 million) and the U.S. Baxter (50 000 doses). All these quantities have not yet been delivered for lack of sufficient production capacity. And even if the needs now seem to have been overstated, these manufacturers have no plans so far to suspend deliveries.
"For now, we have delivered half of our 28 million doses, which is consistent with our commitments, Le Figaro said a spokesman for Sanofi Pasteur. And we will continue to stagger our deliveries as agreed until March. The government has not contacted us to ask us to consider something else. "Contacts, GSK and Novartis did not respond to our calls on Sunday.
675 million euros
Legally, it seems very difficult to challenge a contract by tender procedure if it is binding. The economic and political reality of things can push the labs to be conciliatory, given the weight of government on drugs: is the State which sets prices, and Medicare which, directly or indirectly, pays! Sanofi-Pasteur – French group which is more … – said he also "willing to renegotiate if the government asked," even if "no clause in the contract so provides."
Sanofi-Pasteur's vaccine bill without adjuvant dose 6.25 euros; GSK, 7 euros, Novartis, EUR 9.34; Baxter, 10 euros. Overall, the market rises and to 675 million euros.Besides the 36 million doses that the government had préréservées, where the 94 million departure would not have been enough! Manufacturers have realized that they could make a cross on the command there.
Another beneficiary of influenza A, Roche, who with treatment Tamiflu, which reduces the duration of the flu, "has been a more important," admits one in the Swiss group. But in this case, the stock of government has been gradually established since 2003, with 33 million doses of which 24 million treatments of Tamiflu and 11 million treatment courses of Relenza (GSK).
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Good news for the wallets of households: the regulated price of gas and fuel prices will not move from 1 January following the cancellation of the carbon tax by the Constitutional Council.
Currently set at 41.5 euros per megawatt hour (MWh) excluding taxes, the regulated price of gas for households would have increased 3.14 euros, with the introduction of carbon tax. With its removal, the price will be "not more expensive," said Department of Ecology and Energy and Sustainable Development.
The fuel and the fuel does not undergo an increase of 5 cents per liter initially planned for 1 January, according to the French Union of Petroleum Industries (Ufip). "Regarding our products, the status quo.For consumers, there will be no change, it is a white transaction, "said Jean-Louis Schilansky, president of the French Union of Petroleum Industries (Ufip).
The decision should not intervene before the first quarter of 2010. A consortium of South Korean and U.S., led by the public company Korea Electric Power Corp., won a contract for $ 20.4 billion to build nuclear plants in the United Arab Emirates (UAE). The latter will thus become the first Gulf Arab country to generate electricity by nuclear energy.
The agreement was signed in the presence of President of UAE, Sheikh Khalifa Al Nahyan, and his South Korean counterpart, Lee Myung-bak, visited Abu Dhabi on Sunday, said the official news agency Wam.
The winning consortium includes, in addition to KEPCO, the South Korean companies including Samsung, Hyundai, Doosan Heavy Industries, but the U.S. group Westinghouse and Japan's Toshiba.It will include the support "of the design, construction and support the operation of four nuclear power plants" of 1,400 megawatts each, according to a statement from the UAE Agency of Nuclear Energy, Emirates Nuclear Energy Corporation ( ENEC), quoted Wam.
In competition with a French consortium
In Seoul, the South Korean Ministry of Economy said that the consortium led by KEPCO has signed a contract worth 40 billion dollars in total, adding that besides the $ 20 billion announced Sunday in Abu Dhabi, a second contract 20 billion dollars would follow for the operation of these four plants.
A UAE official said however that "a contract for the operation of four nuclear power plants has not been assigned yet", referring to the second tranche of 20 billion dollars.
The South Korean consortium, which consisted originally KEPCO, Samsung and Hyundai, was competing with a French consortium led by EDF, GDF, Areva and Total and US-Japan alliance consisting of General Electric and Hitachi. The French had originally been donated favorites. The tender was for the construction of two to six nuclear reactors of the third generation in the richest of the seven members of the federation of UAE. Contacted by Figaro.fr, Areva refused to comment at any time.
Construction should begin in 2012 and "the first reactor will be operational in 2017, had then said the Director General the ENEC, Mohamed Al-Hammadi.
"An adviser employment center follows on average 90 to 95 files" recalled Laurent Wauquiez Friday. Enough to justify the listing of the use of additional reinforcements. Secretary of State for Employment was shown Friday in favor of hiring 1,000 people in one-year contract. He "hopes to be operational in February, to help the 47,000 employees that already work center.
"These forces will be assigned to keep the front of compensation to avoid a bug as in 1993" and "coming as reinforcements in the regions most vulnerable," said Laurent Wauquiez front of the Journalists Association of Social Information, stressing that "these reinforcements are designed to help us get through the crisis." Asked about the financing of its additional measures, the Secretary of State has estimated the budget sufficient employment center to fill them.
Merging ANPE-UNEDIC occurred against all odds in economic crisis has created a very tense social climate in the new public. To cope with the influx of job seekers – 80,700 salaried jobs have been destroyed in the third quarter of 2009 according to latest figures from INSEE – CDI hires in 1840 and 1000 or hiring in fixed-assisted contracts have already been made since early 2009.
The commodities market is particularly volatile in this weekend. The request by Dubai World, the principal holding company of the emirate, delaying the maturity of its debt worth 59 billion dollars fueling fears of a collapse of the emirate.
Oil prices fall on Friday in the opening exchanges in New York, the price dropping 4.81 dollars to 73.15 dollars, traders worried about the consequences of financial difficulties of the emirate of Dubai on economic recovery .
The announcement by Dubai has cast a pall over the entire finance, equity markets falling heavily Thursday (-3.36% on the European index EuroStoxx50) on all seats worldwide (-3.22 for the Nikkei Friday).Meanwhile, the dollar went back over 1% against the euro to 1.4867 as investors signaling a sudden aversion to risk.
The weaker dollar boosted oil prices and vice versa
It turns out that the dollar and oil, which is priced in U.S. currency, maintain an inverse correlation. A rising dollar is falling and oil prices and other commodities, which is currently the case.
The soaring price of black gold in recent weeks was also based on a general positive sentiment shared by investors in financial markets.Fears emerged with the financial problems of Dubai logically entail a sudden loss of attractiveness of oil.
"Crude oil is still grappling with fundamental bearish, despite the weekly statistics on stocks issued in the United States," said Darin Newsom, an analyst at DTN Telvent on Market Watch. Data released Wednesday showed an expected increase in oil inventories higher than expected.
The ounce of gold was also affected by the downturn in the commodities market, falling 3% to 1157.40 dollars to 10.30.
Nicolas Sarkozy wants a debate on deficits. This is his announcement during an exchange with hundreds of mayors at the Elysee on the issue of local government reforms. The president had previously tried clearing the ground, apologizing for not being able to go to their convention, ensuring that it was not to avoid their anger on local government reform.
The President has subsequently commented extensively on the subject, pointing specifically drift accounts in the regions: "When I see (…) the fiscal madness that seized a number of areas, I say be careful anyway, because it is the competitiveness of France (who is involved). One criticism is that the Left, which controls nearly all the French regions.But the majority, which has recovered areas in March next will be riding the theme of taxation in the region, pointing in particular the inflation of budgets and taxes found in these communities.
A conference deficits without date
He therefore used his speech to announce a national conference "to discuss the shortfall in France" which meet the state on one hand and those responsible for social security and local authorities on the other .The date of the event remains at present unknown.
"We plan with Prime Minister (Francois Fillon) to organize a national conference to discuss the deficit of France, Nicolas Sarkozy said.
"It will have the responsibility for social security, those local and those of state talk together (…) me, I promised that I would not replace an official two who is retiring but If you local, you create one over two, how one can escape, the same country, "he said.
"Sarkozy remains inflexible on the territorial reform