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CNP Assurances reported a slight increase in operating profit in the first half, marked by a recovery of its business in the second quarter in France.

The leading personal insurer in France, which intends to increase its profitability in 2010, seeking a resumption of sales of unit-linked contracts, has reported a continued recovery in sales of "UC" in the second quarter.

Partially invested in equities, units of account are more remunerative than the risk-free contracts in euro, which investors have rushed during the financial crisis.

In the second quarter, the rate of sales of CPUs in France stood at 10.9% in France, a slight improvement over the first quarter of 10.2% and 16.5% at group level (16% cons ).

In France, sales are included in the second quarter (+3.8%) after a fall of 5.3% in the first, paying for the semester with a decline of 1.2% to 14.1 billion euros, while that the whole French market for life insurance grew by 8% over the period.

Outside France, sales rose 19.3% to 3.6 billion euros over the period.

Recurring net income before capital gains were up by 3.9% to 523 million euros and the net result of 8% to 542 million euros.

The group's solvency margin stood at 193%, including unrealized gains, against 216% in Q1.

At 9:30, the title yielded 1.1% to 15.915 euros, underperforming the European sector index slightly (-0.4%).NPC, whose market capitalization is around 9.5 billion euros, fell by 6% since the year (against 0.6% for the sector index).

Santander, the largest bank in the euro area, presented interim results marked by record performances in Brazil, which offset the impact of the recession in Spain.

The action of the Spanish group is losing ground in Exchange, the lack of good surprises encouraging profit taking after rising the previous day, in the wake of the results of "stress tests" European bank.

They have also shown that Santander was among the best capitalized institutions of the euro area.

At approximately 9:10 GMT, abandoned 1.1% 10.31 euros while the pan-European Stoxx 600 index gained 0.6% of banks.

Santander has outperformed the index by about 14% from a year low hit in early June, at the height of tensions related to the situation of public finances in Spain.

In the first six months of the year, the group achieved a net profit of 4.445 billion euros, down 1.6% over one year. Analysts polled by Reuters had expected a result of 4.48 billion.

The net interest margin, at 14.5 billion euros, is also in line with expectations.

"Even if the net result is unchanged from the previous quarter in the current climate, we believe that these results very correct.They show remarkable resistance to Santander, "said Eleonore Lamberty, a credit analyst with ING Bank.

POINTE IN BRAZIL

In the wake of its results, the bank announced a senior bond issue four years. This is the third such operation since the publication of results of stress tests, after the announcement Wednesday emissions by BBVA and Credit Suisse.

The Brazilian subsidiary of Santander, whose market capitalization exceeds that of Deutsche Bank, Germany's largest bank, saw its profits jump 35% in the first half, to 1.294 billion euros.Its lending activities have increased by 28% in parallel.

"The performance of Latin America is solid, thanks in part to favorable currency effects," said Patrick Lee, analyst at Societe Generale.

Latin America generates about 40% of group profits.

In Spain, the benefit of retail banking fell 14%, margins suffer from the downward trend in lending rates and increase those savings.

Santander has launched a major offensive on the commercial market by offering rates of up to 4% in an attempt to win new customers.Customer deposits have actually increased by 43% in the first half.

Meanwhile, the ratio of bad loans of the group has increased slightly over recent months to 3.37% in late June, against 3.34% in late March. However, this is the lowest quarterly increase since the summer of 2007.

Bad loans on the Spanish market alone stand at 3.71%, well below the industry average (5.47%). Santander believes that this ratio should reach a peak in Spain next year and he could then exceed 4%.

Starts of new homes in France are retreating at the end of June from 10.8% a year earlier to 333,704 units but increased 2.5% over three months (79,801), according to Ministry of Sustainable Development.

Building permits rose 21.3% over the three months to June to 110,233 units and stabilize at 0.1% year over year to 423,975 units.

The number of building permits in seasonally adjusted data (SDA) is smoothed up 3.8% over the last three months compared to the previous three months and that housing starts fell by 1.7% the same period, the ministry said.

In the non-residential building permits down 11.8% to 33,578,700 m2 a year and 2.5% in 8233.400 m2 on three months to end June

For starts non-residential premises, the decline appears to 20.9% in one year (25,126,200 m2). It is 15.8% over three months all surfaces combined (5493900 m2).

The Strategic Investment Fund (ISF) has announced an investment of 20 million euros in Cerenis Therapeutics, a biopharmaceutical company specializing in the development of therapies against cardiovascular disease.

This investment represents half of a round of 40 million euros, the third for the company founded in 2005.

Cerenis develop a therapeutic approach to reduce plaque deposits in blood vessels and thus treat cardiovascular diseases.

"We are pleased to contribute, alongside its existing shareholders, in development efforts by Cerenis a potentially revolutionary treatment in the field of cardiovascular disease," said Thomas in a statement Devedjian executive committee of the ISP.

French sovereign wealth fund will be represented on the board of directors of the company by Jean-Pierre Garnier, former CEO of GlaxoSmithKline, Laboratories Pierre Fabre.

The French household consumption of manufactured goods fell 1.4% in June after the previous month was supported by purchases of televisions before the World Cup, according to figures published by INSEE.

Throughout the second quarter, it shows a decrease of 0.9% after falling 1.9% on the first three months of the year.

Twenty-three economists polled by Reuters on average expected a rise of 0.2% in June

Initially announced at 0.7%, May's increase was revised to 0.6% after a decline of -1.4% in April.

Spending on manufactured goods account for about one quarter of total household consumption of goods and services, it is well known figures of national accounts.It stalled in the first quarter and is still waiting INSEE stalled in April-June The preliminary statistics will be published Aug. 13.

In June, housing equipment purchases fell 3.6%, with a sharp decline in purchases of consumer electronics, and textile and leather spending fell 5.0% in anticipation of balances summer, which began only on June 30, INSEE said in a statement.

Spending on cars remained stable over the month but declined 8.4% in the quarter, after already falling by 11.5% in the first quarter.

Caterpillar raised its estimate of annual profit after publishing quarterly results better than expected, highlighting a rise in sales in emerging markets, particularly from clients in the energy sector and mining.

The world's largest construction equipment said that the price increases that could display on its excavators and other turbines have more than offset lower sales of its subsidiary in financial services.

Net income for the quarter amounted to 707 million or $ 1.09 per share, against 371 million or 60 cents a share in the second quarter of 2009.

Turnover jumped 31% to 10.41 billion dollars.Analysts on average expected a profit of 85 cents per share on revenue of $ 9.8 billion, according to Thomson Reuters I / B / E / S.

In pre-market, Caterpillar gained 24 cents to 67.11 dollars.

Orders continue to be higher deliveries to dealers.The group thinks again increase its production in the second half.

Reflecting confidence the group has hired 3,650 people this year, 1,250 U.S. and 2,400 abroad after having shed nearly 30,000 people in late 2008 and late 2009.

Caterpillar does not preclude a new recession in Europe and the United States.

For the year, the group now seeks a share, from $ 3.15 and $ 3.85 for a turnover of between 39 and 42 billion dollars.

He previously was counting on a profit of between 2.50 and 3.25 dollars per share for a turnover of 38 to 42 billion dollars.

Analysts had expected 2010 EPS up 3.29 dollars per share for billings of $ 38.9 billion, according to Thomson Reuters consensus of I / B / E / S.

World production of crude steel increased by almost 28% over the first six months of the year, but the pace of growth continued to slow in June as steel mills around the world have lowered their production programs.

Analysts believe the slowdown will become even more acute over the coming months with the summer break and indicators suggesting a weakening of the economic recovery.

The crude steel production over the period January to June reached 705.8 million tonnes against 551.9 million a year ago, according to figures from the World Steel Association released Tuesday.

Production of the first half of 2010 is even higher 7.2% than the same period in 2007, when the total steel production had reached a historical record annual 1.346 billion tonnes on the back of strong growth in China.

The confidence of U.S. real estate has deteriorated more than expected in July, falling to its lowest level in over a year, prospective buyers of dwellings are showing reluctance to act because of the depressed job market and difficult credit conditions.

The National Association of Home Builders (NAHB) said Monday in its monthly survey that NAHB index / Wells Fargo housing market had lost two points to 14 emphasize, its lowest level since April 2009.

This is the second consecutive decline in the index.

Economists polled by Reuters had expected a smaller decline, to 16.For June, the index was revised to 16 after an initial estimate to 17.

A figure below 50 means that professionals holding that an unfavorable industry conditions are more likely than those who consider it good.

The NAHB index moving below that level since April 50, 2006.

"The pause in sales after the tax credit for home buyers is more protracted than previously expected due to the slow improvement of the rest of the economy," said David Crowe, Chief Economist the NAHB.

The three components of the index of the real estate market, including that relating to future activity of property development, declined in July.

David Crowe said that the latest figures reflect an overall worsening of conditions for developers.

"Buyers hesitant, tight consumer credit, and continued competition from foreclosed homes and distressed that are valued below the cost of construction," he said.

The current conditions of sales have also lost two points, falling to 15, their lowest level since March.The component measuring sales expectations for the next six months has lost a point, to 21, its lowest level since March 2009.

The index assessing transactions with potential buyers declined three points to 10, its lowest level since March.

"These declining figures reinforce the idea that real estate will be a brake in the third quarter," warns Jonathan Basile, economist at Credit Suisse.

This publication has also increased investors' fears about the fragile U.S. economic recovery, and has led Wall Street into negative territory.

Canada plans to buy 65 fighter jets F-35 group at Lockheed Martin for U.S. $ 8.6 billion, one of the biggest arms contracts in the history of the country, announced the Minister of Defence Peter MacKay .

The first of these hunters from the Joint Strike Fighter program will be delivered in 2016.The F-35 are intended to replace Canada's aging fleet of CF-18, including the withdrawal must take place around 2020.

"These are the best aircraft we can provide our men and women in uniform (…) It is one of the largest military procurement project in Canadian history," said MacKay announcing the agreement at the Ottawa airport.

The contract also covers weapons, equipment and training.

Regarding the maintenance costs of aircraft, the government said they were still being negotiated and that the amount of seven billion Canadian dollars over twenty years forward by the country's media was wrong.

The JSF program is funded by the United States, Canada, Turkey, Great Britain, Italy, Norway, Denmark, Australia and the Netherlands.

China's economy slowed in the second quarter, gross domestic product rising by 10.3% yoy against 11.9% at the end of the first quarter, said Thursday the Office for National Statistics.

The limitation of mortgages and loans to local governments, as well as the retrenchment of public expenditure to support the activity, partly explain the slowdown expected – economists had forecast a figure of 10.5%.

The companies also appear to have stopped to replenish their stocks, which also affects the rate of growth of the Chinese economy.