Paris: A new session of increase was plausible

Wall Street wants to extend its bullish rally, continue to break records for number of sessions "in the green (and exceed the ratio of 90% in the month of February?).

U.S. indexes are deliberately ignoring the lackluster European markets: in mid-session, the Nasdaq (+0.35%) sprayed a record annual 2.830Pts (0.5% from its record high in October 2007) "S & P is 0.15% and crosses 1.331Pts (+100% in 23-month high of increase over an interval as short) and the Dow Jones returns to equilibrium 12.271Pts.

Paris closed slightly down after a session where volatility seems to have been put on "pause" from 11 am this morning the market has ignored a further weakening of the Euro which s' is pressed under $ 1.35 (at $ 1.3475), while Brent North Sea continues to rise in London and crossed the milestone of $ 103 (bad news for motorists and industry in general).

CAC40 scored since the opening a new zenith annual 4.130Pts but has fallen back all its initial gains (+0.7%) in less than half an hour before falling into the red shortly before the lunchtime.

The final score is exactly the same as at noon or at the opening of Wall Street: CAC40 fluctuations were strictly controlled between 4090 and 4110 for nearly six hours of quotations.
The optimism was based on a European stock began booming in Asia this week with a gain of 1.15% in Tokyo, Hong Kong 1.3%, 2.55% in China (which is betting on low inflation) +2.7% at Bombay and especially a surprising 4.7% in Seoul.

London fell by -0.3% Frankfurt but rose to as much (after setting a new record annual 7.400Pts or 207% in 23 months), the Euro Stoxx eroded by -0.2% EMMIC while Milan and Madrid (-0.25%).

In the absence of statistical significance, investors will be watching to Brussels, which will meet today and tomorrow the European finance ministers. There will be particular question of solutions to the crisis of sovereign debt, which turns out to be a recurring problem since the spring of 2010 ... but no compromise is expected before mid-March.

Regarding Egypt, Hosni Mubarak's departure was welcomed as it should be Friday by the markets. However the transition to a democratic regime looks delicate and it might be premature to consider the issue as resolved. The army (and its supreme council) has recently acquired the full powers and promises to honor the peace treaties in force.

Side values, in Paris, the 'financial' appear depressed in general, like AXA (-1.25%), Credit Agricole (-0.8%) and Sté Generale and BNP Paribas (-1, 48H 2% of results).

In contrast, Alcatel-Lucent continues its bull rally and s'envolaite to 3.6 before I slow down (+2.2% to 3.46 E).
Within the DRS, Belvedere jumped 10.9% after posting during the weekend sales 4th quarter 2010 up 12.9% (+8.4% at constant exchange) to 175.7 million euros.

Nexans climbed by 3.9 after the release of 2010 annual results above expectations, accompanied by more positive outlook 2011 ... same score for Rhodia (3.95%)

Thales wins 4.55% of its side, even if the group of high technologies has announced that its EBIT (ROC) should be close to a loss of 100 million euros in 2010, mainly due to charges and additional provisions recorded on the contracts and activities, which exceed 700 million euros.

Finally, Sanofi-Aventis gleans from 0.55 to 49.93 euros: the group was studying very carefully four acquisitions, including three U.S. and one in Israel in the field of ophthalmology, according to Les Echos du jour. If transactions are realized, the French could pay nearly one billion euros in total over the next three years, says the business daily.

Market: new growth forecasts in 2011

The European Commission today published its new growth forecast in 2011 for the European Union.
 The forecast growth in France and raised by 0.1 pt to 1.7% in 2011, as Germany is raised by 0.2 pt to 2.4%.

 Christine Lagarde, Minister of Economy, Finance and Industry, noted with satisfaction the improvement of these forecasts for all major economies of the eurozone and the European Union.

 "The recovery in global demand, particularly from our European partners, should continue to support the activity of our companies. " On this basis, Christine Lagarde believes that French growth in 2011 will be higher than that calculated by the Commission and maintains its forecast of 2%.