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NYSE Euronext reported Monday a decline of one third of its first quarter results, citing "difficult operating environment" and the resulting costs of its failed merger with Deutsche Börse.

The exchange operator announced for the period net profit down 32% to $ 121 million (91 million), or earnings per share not -GAAP $ 0.47 against 0.48 expected by analysts, according to Thomson Reuters consensus I / B / E / S.

The total turnover declined 17% to 952 million.

"Our first quarter results reflect the difficult operating environment that continued in 2012 and will continue to be felt in the short term," said Duncan Niederauer, CEO of NYSE Euronext. 

The group said to include $ 31 million cost, including $ 16 million of costs associated with the aborted merger with Deutsche Börse.

NYSE canceled the merger to $ 7.4 billion in early February after the agreement was rejected by the European antitrust authorities, making this operation the fourth merger canceled since early last year.

Since the failure of this transaction, NYSE Euronext has refocused on the opportunities presented by new markets such as the creation last month of its own clearing house for transactions and eventually moved away CHL. Clearnet, its supplier to date.

This creation comes as its main rival the London Stock Exchange plans to finalize the acquisition of LCH in the fourth quarter of this year.

Zodiac Aerospace has shown more optimistic on Tuesday its forecast for the current fiscal year thanks to the dynamism of aviation activity, likely to gain market share and revenue that draws lucrative after-sales services.

The equipment manufacturer, which provides Boeing, Airbus and Embraer, said in a statement it expects now to the 2011-2012 fiscal year, which runs until August 31, on a double-digit organic growth in its turnover and an operating margin of at least 14%, despite the negative impact of non-aeronautical activities.

The group had so far committed to a growth in sales and improved profitability over the period. 

Zodiac announced in the first half (ended in late February) an operating profit (ROC) of 223.8 million euros (+20.3% excluding IFRS 3) and a result net 152.4 million (+33.3%).

Its turnover reached 1,567.3 million euros in the first half ended in late February, up 19.7%, with organic growth of 15.9%.

Its operating margin was thus established to 14.3% in first half 2011 to 2012 against 14.2% a year earlier.

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.

Veolia Environnement shares could resume directly to the ferry company SNCM, which liaises with Corsica, to facilitate the reorganization of its subsidiary public transport Transdev he wants to withdraw, Les Echos reported Wednesday.

This announcement could be made following a meeting this morning between the President of the Supervisory Board of SNCM, Gerard Couturier, and the CEO of Veolia, Mr. Frérot at Veolia headquarters in Paris, the newspaper said.

Veolia currently operates indirectly SCNM the capital, through which he is a shareholder Transdev joint with the Caisse des Depots (CDC). Veolia Transdev owns 66% stake in SNCM.

Veolia announced at the end of last year its intention to withdraw from Transdev, which owns 50%, as part of an outflow of its transportation activities. The balance is held by the Deposit (CDC).

According to Les Echos, the CDC and the investment fund Cube, owned by Natixis, "who have applied, would have made it clear that SNCM was too much in the transactions."

The daily added that the SNCM is considered "atypical and cumbersome" because of the economic and social setbacks that undermine it.

In early trade on the stock exchange, the action Veolia yielded 2%, biggest drop in the CAC 40 index in a market down 0.4%.

Orders for new cars in France fell 7% in February, according to trade publication The letter VN Auto K7, promotions manufacturers to limit the damage on the car market.

The decline, calculated from one year to another, has increased from January (-1%), but still very far from the collapse of 57% recorded in December, adds the letter published Wednesday VN Auto K7 based on a survey of 34 automotive distribution groups.

"The distribution started in January with order backlogs close to absolute zero. And partial reconstruction of the portfolios remain well informed of the Month: despite the winter holidays and bad weather, customers rather attend the showrooms, "writes the monthly publication, which Reuters obtained a copy

. registrations in March, which are an order of February leading indicators, will be published Monday 2 in April. After the collapse of order in November and December, registrations had tumbled 20% year on year in January and February.

According to La Lettre VN, orders for cars fell 18% last month, Renault, after a 6% decline in January, reflecting the destocking of the network that controls less than the manufacturer.

Peugeot and Citroen are better, PSA has redirected some of its financial resources to its offerings after the commercial disappointment of the end of 2011: Orders Peugeot fell 8%, after rising 12% in January, and those of Citroen were down 7% (after 10%). 

Asked about these trends, a Renault spokesman reiterated the group's estimate of a decline of 8% to 9% of its orders in France on the first two months of the year and a contraction of 9% to 10% for all brands in February.

In early March, Peugeot evoked a rebound for his share of 7% of its orders in two months. No details on the month of February could not be obtained immediately from the two brands of PSA.

March, CRITICAL MONTH

Among volume manufacturers is that Fiat has suffered the most last month (-25%), while VW has yet pulled out of the game with an 8% increase in orders of the Volkswagen brand last month.

According to La Lettre VN, distributors of the German mark displayed a very high portfolio of over 100 days of orders, against less than a month at Renault.

Most builders know that the first quarter will be mechanically difficult since at the same time in 2011, sales were still boosted by orders placed before the end of last cash for clunkers. 

Last week at the Motor Show of Geneva, the commercial director of Renault Jerome Stoll acknowledged that the year had started less than expected in Europe. March, one of the biggest months of the year for the sector before the arrival of spring will be critical to the sales and orders for the quarter, but Jerome Stoll and now believed to that already controls all brands could drop by 20% over the first three months of the year.

"The channel monitor is strongly Corporate Sales, PC and LCV," wrote The Letter VN. "For if the registrations still resist well to date, all professionals are finding a strong wait-and deferrals of purchasing decisions and an extension of many leases."

According to the publication, a reversal has taken place in this market during the second half of February and the wait has prevailed. The Committee of French Automobile Manufacturers (CCFA) expected throughout the year down 10% of the French automotive market, after falling 2.1% in 2011 .

Registrations of light commercial vehicles, which depend directly on local economic activity and who signed in January and February their first declines for several months, are also likely to remain misdirected. According to La Lettre VN, controls VUL in France fell by 8% in February.

BNP Paribas will pay to its three top leaders pay lower by 8% to 19% for fiscal 2011, years during which European banks have begun to restructure to cope with the debt crisis.

Pébereau, in December became honorary chairman of BNP Paribas, and will receive a total compensation of 1.17 million euros, down almost 16%, for its last year as head of the French bank, the group said in its document.

Former CEO Baudouin Prot, who succeeded Pébereau as Chairman of BNP Paribas, meanwhile receive 2.16 million euros, almost 19 % less than in 2010. 

The remuneration of the new Director General Jean-Laurent Bonnafé be lower by 8% to 2.02 million.

BNP Paribas, which accounts for the fourth quarter of 2011 were burdened by greater losses than expected in the banking and investment banking (CIB), had said last month that bonus to be paid in 2011 for traders would be halved.

To adapt to the new regulatory environment that requires banks to increase their capital, the bank has taken since the late summer of measures to reduce the size of its balance sheet and wants to eliminate nearly 1,400 positions in its BFI. 

In addition, 373 positions will be eliminated in the business of asset management, while 433 jobs are threatened at Cofinoga, a subsidiary of consumer credit.

In the match to the distance on Friday opposed the defense of employment, Nicolas Sarkozy announced at the Petit Couronne do restart the refinery Petroplus temporary while Francois Hollande, in Florange, proposed a law requiring companies that do not want more than one site to appeal to a buyer.

Who will make the announcement the more sensational? How far will they go the candidates to win the labor vote? A new match is held at a distance between Nicolas Sarkozy, visiting the Petroplus refinery in Petit Couronne, and François Hollande, who moves in Florange to meet with employees of Arcelor Mittal. Two strategic locations in the field of employment, for a match that promises to be fierce. Follow live changes in the score.

2:05 p.m.: Arcelor Mittal is dismissed by the High Court of his application for entry ban to anyone outside the service in its application was primarily site.Cette the many journalists covering the occupation of the site by employees.

14:00: "There are 3 or 4 buyers interested [...] So far we have not yet found"

1:52 p.m.: regarding the financing, the president ensures that for two months of work needed to restart the refinery, "was 50 million. The 20 million were transferred to the state, 10 million will come CO ² through quotas, and another 20 million in Schell avanace cash "

1:50 p.m.: "Last night later, we signed a processing contract, which guarantees refining activities for a period of 6 months. If there was no contract, it was over.

1:40 p.m.: Francois Hollande reacted to the news of Nicolas Sarkozy: "It is in fact only get the former owner of the site. This is going to the most urgent."

1:20 p.m.: "I am a word. It is signed" with Shell, said Nicolas Sarkozy, adding: "I'm not saying it saves the refinery, but it is signed, it makes the job for six months ".

1:18 p.m.: Holland wishes to clarify that he came as an MP, and is prepared to file a bill: "When a large firm does more than one production unit but does not give the, we will do a bill that will force him to appeal to buyers. " Another proposal: the businesses that use too much to pay the interim benefit of unemployment contributions. He is applauded by employees.

1:10 p.m.: The Socialist candidate speaks. He says he wants to defend the steel industry, "sector of excellence". "I come before you to make commitments. I am aware of the anguish that is yours." He adds, to the attention of its competitors: "There are candidates and candidates of the people who claim to serve the people"

13.00: Francois Hollande arrived at the plant Arcelor Mittal, where he has not spoken yet. It stands in the middle of union representatives, who express their demands, after climbing a truck.

12:45: The president finally arrives on the site. Francois Hollande, is always expected Florange.

11:45: Nicolas Sarkozy will meet in closed session with the staff representatives and administrators of the Petroplus refinery.  

Faced with a record unemployment rate since 1999 that is almost symbolic of the 3 million people, the head of state has recently invested personally in two emblematic cases of companies threatened: the Lejaby lingerie factory Yssingeaux (Haute-Loire) and the solar panel manufacturer Photowatt to Bourgoin (Isère). Candidate since Feb. 15 to a second term, Nicolas Sarkozy made a record of his two electoral argument to illustrate his determination to protect "the France of the factories". "If I had said as they (the Socialists) + we + can not do anything, Alstom would no longer exist, Photowatt we do speak of it and Lejaby would have been wiped off the map", he said Thursday at a public meeting in Lille.

The agency Fitch upgraded the credit rating Friday from Iceland to BBB-BB + cons, welcoming the country's progress in restoring macroeconomic stability after the financial plunge of 2008.

Note Reykjavik thus leaves the speculative grade and is endowed by Fitch with a stable outlook.

"The restoration of long-term sovereign rating of Iceland investment grade reflects progress in restoring macroeconomic stability, implementing the re ; structural forms and restore the solvency of the country after the financial and monetary crisis of 2008, "Fitch wrote in a statement. 

In late 2008, the three main Icelandic banks collapsed under the weight of their debts accumulated during a decade of aggressive expansion abroad. Their fall has plunged the Icelandic economy, which had to call using the International Monetary Fund.

Relatively untouched by the debt crisis of the euro area, it is not, Iceland is expected to grow by 2% to 2.5% in 2012-2013, Fitch believes.

The rating agency stresses, however, that private debt remains high, that of households above 200% of salary available and the business up to 210% of GDP.

Iceland is rated BBB-by Standard & Poor's and Baa3 by Moody's. His outlook is stable from S & P, but negative by Moody's.

The European Central Bank will keep interest rates in March and may well leave them unchanged for the rest of the year, according to the latest survey by Reuters Aupre ; s economists after the last monetary policy decision of the ECB.

During the press conference that followed the decision of the central bank in the euro area to keep its key rate to 1%, its chairman Mario Draghi gave no indication of a possible reduction in the cost of money at the next meeting of the Central Bank in early March.

As a result, economists who anticipated an easing credit costs next month, reviewed the consensus that prevailed around this prediction. 

On Thursday the 57 economists surveyed, only 14 felt that the ECB will lower its refinancing rate it next month. Last week, they were 41 to 71 to estimate that the central bank would decrease rates before the end of the quarter.

Mario Draghi said that the economic situation in the euro area had recently stabilized, while stressing that there were still risks.

"It is difficult to assess the thinking of the ECB," said Greg Fuzesi, economist at JPMorgan.

"Many other central banks have already lowered their rates again today. After all, the 'signs of stabilization' are not the same as a prolonged period of increased growth likely to generate inflationary pressures, "he argued …. The

….. Reuters survey shows that the probability of lower interest rates by the end of year is very low in the eyes of economists

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