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The U.S. places have opened sharply lower Monday, in the wake of the decline in European markets, amid fears of an outflow of Greece in the euro area and a more pronounced slowdown than expected in the Chinese economy.

In early trade, the Dow dropped 0.72% to 12,728.27 points. The Standard & Poor's, wider, yielding 0.86% at 1341.80 points while the Nasdaq composite lost 0.81% to 2910.32 points.

The "radical left" Greek refused to participate in new negotiations to try to form a coalition, which reinforces the scenario of a new legislative elections in June, that would extend political instability.

Moreover, the Chinese authorities' decision to lower this weekend reserve requirement ratio of banks is once again came illustrate the uncertainties on the growth of the second world economy.

Faced with the withdrawal movement of investors in risky assets, the S & P 500 could return to test an important technical support to 1,340 points, which, if broken, could bring down the index even lower. 

Values, JP Morgan fell 2.3% to 36.11 dollars. The bank announced changes in management after the loss of at least $ 2 billion related to a hedging strategy risky.

In contrast, Yahoo progressed from 1.84% to 15.47 dollars. The group will have to find a new CEO for the third time in three years Sunday after the resignation of Scott Thompson, pushed initially after the controversy surrounding by a fake university degree in computer science listed on his resume.

Avon Products jumped 4.06% to 21.01 dollars. The cosmetics group said Sunday he informed Coty

he would study the takeover offer of 10.65 billion dollars (8.27 billion euros) launched by the latter, adding that he should respond within a week.

In most cases, fast cash loans are credited to the borrower's account within 24 hours. Sometimes the time taken may be even less, depending on the amount of loan as well as the company which processes your application.

The Cypriot Panicos Demetriades, a new member of the Governing Council of the European Central Bank, pleaded Saturday for a stimulation of growth when the European Commissioner for Economic and Monetary Affairs, Olli Rehn , repeated his opposition to any stimulus funding from public funds.

"A strong safety net for employment and living standards of citizens will stop the decline in state revenues and consequently an increase in deficits (budget)", has estimated the new Governor of the Central Bank of Cyprus during his first press conference in Nicosia. 

Panicos Demetriades ruled in favor of adding the European fiscal pact "a framework of measures to stimulate growth", making its contribution to the debate that has accelerated ; within the European Union since the election of French President Francois Hollande and before the EU summit of 23 May

In Tallinn, where he participated in a conference, the European Commissioner for Economic and Monetary But he reiterated his opposition to the financing of measures to support growth by more dice ; public spending. 

"We can not solve the crisis by adding debt to debt, which is already affecting our growth forecasts", argued Olli Rehn, who called Tuesday in Brussels "false debate" the opposition between consolidation and growth.

"AUSTERITY NOT ENOUGH"

"In the current economic situation, low growth and high debt, we have no choice: we must do one or the other," he explained.

"We need to continue fiscal consolidation because we suffer from a very high level of public debt, which increased on average by 60% to 90% in Europe," he insisted Saturday during his presentation.

Panicos Demetriades has said his side that fiscal austerity was not a quick fix. 

"Preserving the fiscal pact adopted by EU leaders is an important step towards restoring fiscal balance, but a recession exacerbated by austerity rity feeds a vicious circle between declining production and a heightened lack of budgetary resources, "said the member of the Governing Council of the ECB.

"We now understand, in Cyprus and in the rest of the euro area, that austerity is not enough alone to clean up the finances of a country, especially when all other countries of the EU apply the same policy, "he concluded. 

Panicos Demetriades had held before his appointment as governor of the ECB should reassess its monetary policy too focused, he says, on controlling inflation, the model the German Bundesbank.

Standard & Poor's and Fitch Ratings have been recalled in fond memory of Francois Hollande Monday stating that the member's election to the presidency of Corrèze of the Republic n 'had no implication on the sovereign rating of France, in the short term.

Francois Hollande since Sunday is the new head of state, elected with 51.62% of the vote against the incumbent President Nicolas Sarkozy.

S & P, which lowered a notch in January the French credit rating from AAA, the highest possible, to AA + coupled with a negative outlook, estimates there are at least three chance that the note against the subject of a further reduction this year or in 2013. 

"We will analyze the decisions of the French president and his new government, taking into account the results of parliamentary elections in June," said the rating agency said in a statement.

"The election of the candidate of the Socialist Party, Francois Hollande, President of the French Republic, has no implications for the AAA rating of France, currently in perspective negative ", for its part announced Fitch.

"However, his election victory marks an important change at the head of France and Europe. The new president faces the same challenges as its predecessor: the strengthening of fiscal credibility, improving the growth potential in the medium term France and the handling of the crisis in the euro area, "the text

. Fitch announced earlier this year not consider amending the note from France in 2012 but nothing prevents him to return to this position

. No one was immediately immediately reached Monday night at Moody's for a comment on France

. Francois Hollande has placed top priority European renegotiation of the treaty signed on budgetary discipline by March 25 of the 27 countries of the European Union in order to incorporate a component on growth. 

Meanwhile, the president plans a return to balanced budgets in 2017.

For its part, German Chancellor Angela Merkel, eager to pursue deficit reduction, on Monday reiterated its refusal to renegotiate the pact and posted its fiscal distrust vis-à-vis possible measures to support growth.

The rating agencies are concerned about several times of slippage in public finances in the euro area countries, while stressing that too restrictive budgetary measures were likely to weaken growth , itself considered essential to reducing deficits and debt. 

Francois Hollande announced that he would travel to Berlin very soon after taking office scheduled May 15

Lafarge announced Friday an increase in its turnover and its operating income in the first quarter thanks to emerging markets and improved pricing, allowing the world's leading cement to reduce its debt.

The group, which now generates 60% of its sales in emerging economies, achieved the first three months of the year sales up 5% to € 3.35 billion, slightly above the consensus reached by the editor of Reuters estimates from eight analysts who gave $ 3.3 billion.

Ebitda rose to its share of 8% to 516 million euros while operating profit rose 28% to 267 million. 

However, net income, group share, shows a loss of 44 million euros, against -29,000,000 a year earlier, reflecting restructuring charges corresponding in particular to the 500 job cuts engaged around the world as part of the reorganization of the group. Excluding these charges, Lafarge has emerged over the period with net income of 18 million euros.

"The group continues to anticipate an increased demand for cement, and maintains its estimate of market growth between 1% and 4% in 2012 compared to 2011," the group said in a statement .

"Emerging markets remain the main driver of demand growth (…) The prices should be up on the year 2012, and cost inflation more moderate e in 2011. "

CONTINUATION OF ASSET TRANSFERS

In the first quarter, net debt of Lafarge fell 13% year on year to 12.4 billion euros. One quarter to another, it is clear, however, up 3%, a trend linked "to normal seasonal variations in working capital (working capital needs)," said Lafarge.

The group's debt, inherited largely from the acquisition of Orascom in 2008, is still expected to decline "significantly" this year, without elaborating.

As part of its debt, Lafarge intends to limit to 800 million euros investment and reduce by at least 400 million euros in 2012 its costs. The group also maintained its target of over one billion euros of asset sales over the year, of which 71 million were made during the quarter.

Both activities are the subject of rumors of transfers, the plaster in North America, last active group in a trade which it is almost released last year, and cement in South Africa . The group must also achieve significant asset sales in Britain required by the Competition Authority to give its green light to the proposed joint venture between Lafarge and Anglo American.

"It is not impossible that these divestitures can be made in 2012," said the CEO of Lafarge, Bruno Lafont, during a teleconference.

The stock closed Thursday at 29.97 euros. Since the beginning of the year, the title took about 10%, after -42% in 2011.

Heineken, the world's third largest brewer, said Wednesday an operating profit down slightly in the third quarter due to cost increases greater than the increase in sales and that the effects of her last savings program.

Revenues increased 6.8% over the period from January to March, up more than expected, thanks to a 4.7% increase in volumes sold to pe rimètre constant over two times higher than analysts' expectations.

Operating profit before exceptional items decreased due to higher fixed costs in some markets with high inflation and production costs associated with, eg barley. 

Quarterly sales stand at 3.834 billion euros against a Reuters poll of 3.729 billion.

Quarterly net income totaled 175 million euros against 151 million a year earlier.

Heineken, which generates 45% of its billings in Western Europe, has also confirmed its targets for this year.

The action has risen sharply, from 4.3% to 44.13 euros, in the course of the morning.

The Dutch brewer said in February is expected to grow in emerging markets where it is growing in Africa, Latin America and Asia.

Heineken was also anticipated marketing costs and marketing for this year equivalent to those of 2011 due to its efforts to develop its brands Desperados, Strongbow, Amstel and Sol. The increase in barley prices will contribute to an increase of around 6% of input costs.

Heineken plans to offset the spiraling costs by higher sales volumes, an increase of its price and a new savings program of 500 million euros which will run until 'in 2014.

Heineken is the first major brewers to publish its results for the first quarter. The world number two SABMiller will make a point on its activity on Thursday and another one of its joint venture MillerCoors in the U.S. on May 8

The world's number one beer Anheuser-Busch Inbev will release its results for the first quarter on April 30 and Carlsberg, May 9

After enduring their worst two weeks of the year, the U.S. stock markets should try to get back to basics and support the trend of the results to be published in burst from Monday.

Alcoa opened last Monday the new earnings season, reporting an unexpected benefit as investors anticipated a loss from the U.S. aluminum specialist.

In the wake of Alcoa, the few groups who have also published their quarterly in the vast majority pleasantly surprised: the approximately 32 companies listed on the S & P 500 , almost three quarters exceeded the consensus. 

But these ads have not had the desired effect on equity markets, the return on the center stage of the crisis of sovereign debt, illustrated by the difficulties encountered es by Spain to finance themselves, having prompted investors to take profits and to favor the least risky assets.

According to Thomson Reuters data, not less than 86 U.S. companies in the S & P 500 in turn deliver their quarterly results to stakeholders.

Among them are ten listed companies on the Dow Jones: Intel, Johnson & Johnson, Coca-Cola, DuPont, Microsoft, Travelers Companies, Verizon, American Express, General Electric and McDonald's. 

Financials will be again this week closely followed the results delivered Friday by JPMorgan Chase. This week, are expected Citigroup, Goldman Sachs and Morgan Stanley.

The content of the figures however, will not only dictate the trend, investors keeping an eye on the developments on the forehead of European sovereign debt.

"The results are better than expected. The outlook is rather optimistic," said Jack Ablin of Harris Private Bank.

"Overall, the news is mostly good, but just a very poor information from Europe to forget all that," he said.

Friday, the U.S. stock markets have completed a second consecutive weekly decline. This correction was expected by many analysts after the 12% increase posted in the first quarter by the S & P 500.

The index, followed by most fund managers, however, remained close to its 50-day moving average.

"Technically, it was clear that there would be a correction," said Paul Mendelsohn.

"(…) How far will she? Remains to be seen. There is support in the region of 1,358 points and we turn around the 50-day moving average ….. ….

Chinese growth is below expectations and concerns about the situation in Spain prompted investors to shift from equity markets, the euro and oil, Friday. European shares have signed their fourth week of declines.

In Paris the CAC 40 index ended down 2.47% to 3189.09 points. A week shortened to four sessions because of Easter Monday, the 40 index values ​​have dropped an average 3.94%. The Ibex index of the Madrid Stock Exchange lost 3.58% Friday. In Frankfurt the Dax gave 2.36% and London, the FTSE dropped 1.03%.

The FTSEurofirst 300 index ended down 1.58% at 1027.73 points. It lost 2.4% on the week. This is the fourth consecutive week of losses.

The Bank of Spain announced that Spanish banks, in fact apart of wholesale funding markets, had borrowed a record $ 316.3 billion euros from the Central Bank (ECB) in March, data that has led to a further surge in yields Spanish and Italian.

In addition, growth of gross domestic product (GDP) of China first quarter, came out below expectations: 8.1% annual rate, or the worst in almost three years. 

The decline was accentuated Marchesa in the afternoon by an indicator of U.S. consumer sentiment slightly below expectations and statements of Klaas Knot , member of the Board of Governors of the European Central Bank, who hoped that ECB can avoid having to resort to new purchases of government securities.

"After rising yesterday as investors returned to the real problems of the Spanish debt. Klaas Knot statements have added fuel to the fire, "said Pierre Barral, portfolio manager at

. AM Convictions In Europe, banks, for the most vulnerable countries in the euro area's most indebted, have ended down over 3%

. U.S. banks JPMorgan and Wells Fargo, who published their results, yield more than 2% against each

. A- trend, L'Oréal has gained 1.15%. The cosmetics group announced a sharp increase in sales.

The euro is down against the dollar for the first time in three days and fell below $ 1.31, traders are concerned about the rise in borrowing costs of Spain .

The single currency is in the bottom of the range of 1.30 to 1.35 dollar in which it has fluctuated since January and that he should not go out, experts say.

With the return of risk aversion, the U.S. Treasuries are sought, the bond yield benchmark ten-year falling below 2%. In contrast, German Bunds are neglected.

The cost of insurance of Spanish debt against default rose 500 basis points for the first time Friday amid concerns about the high exposure of the banking sector to the country's sovereign debt. Markets fear that much of the funds borrowed by Spanish banks to the ECB has been placed in Spanish sovereign debt.

The performance of the Spanish government bonds to ten years increased by nearly 0.10 percentage point to 5.90%.

Credit default swaps (CDS) for five years on the Spanish government debt rose to 500 basis points, according to data from Markit. This means it costs 500,000 dollars a year to buy protection from $ 10 million against a debt default in Spanish using these contracts to five years.

China is behind the U.S., the second consumer of crude, the data worse than expected GDP of the country cause, not surprisingly, a decline in prices. In addition, the oil market also suffers from the reaffirmation by Saudi Arabia of its willingness to reduce prices of black gold.

Foreign trade continues to be a real asset to the German economy. The raw data published today in fact an upward trend in exports, which should enable him to escape recession early this year. Volkswagen new models ready to exported waiting in the port of Emden in Germany

Foreign trade is a safe bet for the first European economic power. The increase in exports has enabled Germany to enhance its growth ambitions, avoiding a recession that some economists feared. The trade surplus of Germany has reached 14.7 billion euros in February, against 13.2 billion in January, according to raw data released Tuesday by the Federal Statistical Office Destatis. Exports on the other hand reached 91.3 billion euros, against 86 billion in January, still raw data, according to a statement.

In data adjusted for seasonal and calendar followed by most economists, the German trade surplus has instead declined in February compared to January, to 13.6 billion euros against 15.1 the previous month millliards . Blame it on the highest increase in imports than exports (+3.9% against +1.6%). This decline did not stop Carsten Brzeski, economist at ING, to judge that exports remain "faithful friend" of the German economy and that they had "defied the cold of February".

The statistics released Tuesday are all the more reassuring to economists that they contrast with previous indicators rather bleak, especially concerning the production and factory orders. "Finally a good number", and exclaimed Ulrike has Rondorf, bank Commerzbank. Unlike some other economists predict that in Germany a short recession, it has "the hope that the German gross domestic product in the first quarter increased, if only modestly."

Mr. Brzeski underlines that the fate of Germany depends increasingly in the hands of partners outside the euro area, which will not make the rebalancing (in EMU) easier. According to the Statistical Office, German exports accumulated since the beginning of the year to the member countries of the euro area increased 4% year on year, against an increase of 8.5% to the countries members of the European Union which have not adopted the single currency, and 14.4% to countries outside Europe.

This trend was confirmed today by President of the Federation of German Wholesale and exporters (BGA) Anton Börner: "outstanding for the year, we see again and foremost a good chance of growth in Asia South and East, Latin America, North America and the Middle East, "he said at a news conference. Despite the debt crisis and austerity plans that discourage orders in the euro zone, Mr. Börner table for 2012 on "a trade surplus of 159 billion euros against 158 ​​billion last year." Exports are expected to increase by 6% to 1.124 billion euros in 2012, and imports by 7% to 965 billion euros, while the nominal data, he said.

Alstom and EDF are the big winners of the first tender for wind turbines off the French coast of the Channel, the second one being planned in the second half to reach the target set for 2020.

The Industry Minister Eric Besson said Friday the award of contracts representing a total capacity of 2,000 megawatts, the equivalent of two nuclear reactors.

This is a third less than expected, the field Tréport (Seine-Maritime, Somme) were not assigned in the absence of sufficient competition.

The consortium formed by Alstom and EDF and three of the five fields involved: Saint-Nazaire (Loire-Atlantique), Fécamp (Seine-Maritime) and Courseulles-sur-Mer (Calvados). 

Spain's Iberdrola and the French group Areva will see their side of the field jointly awarded the Saint-Brieuc (Côtes d'Armor).

GDF Suez, which had also formed a consortium with Areva, gets nothing at this stage.

"This decision will enable France to continue development of renewables, which are next to nuclear power one of the two pillars of our policy e ; nergétique, "said Eric Besson at a press conference.

He confirmed the goal of having 6,000 megawatts of capacity by 2020, as set by the Grenelle Environment for offshore wind and marine energy, including the turbines for which a tender is planned within two years. 

The second tender will involve particular area Tréport and that of Noirmoutier, he said.

The selection of candidates announced Friday an investment of seven billion euros and the creation of 10,000 direct manufacturing jobs, argues Eric Besson.

While Alstom plans to invest 100 million euros and generate up to 7,500 jobs with its partners, the challenge will be for the group to impose its new generation of turbine Haliade, inaugurated on March 19 to book (Loire-Atlantique).

Areva has now put forward his experience and that could create 4,000 jobs in France, including 1,000 in its single perimeter, while GDF Suez has raised up 'to 6,000 direct and indirect jobs.

The unwritten rule in the United States reserving the presidency of the World Bank is questioning Friday after the appointment of a candidate by three emerging countries of Africa, paving the way the first truly contested election since the primary funder of developing countries.

Angola, Nigeria and South Africa supported the nomination of the Nigerian Minister of Finance, Ngozi Okonjo-Iweala, a respected economist and diplomat, to succeed the American Robert Zoellick, who is retiring in June 

"This designation stems from the belief that the executive appointments of the World Bank and its sister institution the International Monetary Fund, should be based on merit, open and transparent "say the three states in a statement.

Washington must nominate its candidate on Friday, which will remain the favorite for the position despite the African initiative: the U.S. president traditionally the World Bank since the inception of it the day after World War II, while the general direction of the IMF amounts to a European.

Brazil, meanwhile, would defend the candidacy of former Colombian Minister of Finance, Jose Antonio Ocampo, but can not do without the support of Colombia, as now seems likely. 

Bogota has indeed said Thursday its preferred candidate for the presidency of the International Labour Organization (ILO), recalling that a Colombian already held the presidency of the Inter-im ; American Development.

Russia, she refrained from supporting a candidate who is not American and pleaded for a greater role for emerging leaders in the organs of international financial institutions.

DECISION BEFORE APRIL 21

The Board of Directors of the World Bank, the United States holds the largest number of voting rights and can expect support from European countries and Japan. Africa occupies only three of 25 board seats.

The secret of the candidate that Washington will support far remains guarded. And Nancy Birdsall, who chairs the Center for Global Development in Washington, it is precisely the delay in the appointment of the American candidate who has paved the way for his rivals.

"For the first time, there is competition, or at least it seems at first glance that there is serious competition. And the only way for this to be open, merit-based and transparent, is that there is competition, "she said

.

Sources close to the Obama administration have said the list of possible candidates include Susan Rice, U.S. Ambassador to the UN, Indra Nooyi, the Director General eral of PepsiCo, born in India, Senator John Kerry and Lawrence Summers, former economic advisor to President

. A name Additional emerged in recent days: that Laura Tyson, professor at the University of California at Berkeley and a specialist in international trade and competitiveness …….

.. The State Department has ruled that Hillary Clinton will be leading the World Bank but it remains a possible candidate in the eyes of some observers. 

The deadline for applications is 18:00 Washington time (2200 GMT). The board must then publish a list of three candidates and make a final choice before the general meetings of the IMF and World Bank, April 21.