My Business News

Eurostar said on Friday that the decision of the British justice system not to respond to the injunction request Alstom meant he was free to sign the order with Siemens.

The operator of the Channel Tunnel, which provides commercial links between Paris, Brussels and London since the tunnel opened in 1994, announced Oct. 7 that it intends to buy ten trains to the German group at the expense of the incumbent supplier Alstom some 800 million euros, a move that has angered the French government.

The French State Secretary for Transport Dominique Bussereau argued that proposed by Siemens trains were not long enough and pose risks in terms of safety, especially in case of fire, due to a different architecture in terms motorization and power.

The European Commission had indicated its side as the component related to safety in the tunnel and the modification was not within its purview.

Alstom announced on October 19 have filed a complaint with the Court of Justice in London on the bid.The court on Friday rejected a request by the French group seeking an injunction against the choice of Eurostar.

"We are very pleased that the situation has been resolved and we can now proceed with the signing of the contract for our new fleet of trains with Siemens," Eurostar said in a statement.

"We have always believed to have led a process of rigorous tendering and choosing the best trains for our passengers," said the operator.

No comment could be obtained immediately from Alstom.

Total on Friday issued the results up in the third quarter thanks to increased oil prices and a production growth of 4.3%.

The third European oil company by market capitalization, behind Royal Dutch Shell and BP, also stressed in a statement that its capital expenditure excluding acquisitions were in line with initial budget of $ 18 billion set for all 2010.

Total also announced the introduction of quarterly payments of its dividend after the year 2011.These payments for the next year, should take place on 19 September and December 2011 and March 19 and June 2012.

"(At the beginning of the fourth quarter), the dollar continued to weaken against the euro, while crude prices have displayed increases, driven in particular by positive economic signals and the approach of winter in the northern hemisphere, "said Total.

"The spot price of gas have increased dramatically in Europe and Asia but down in the U.S. where the market remains oversupplied because of the large-scale production of shale gas," added the group, which did not quantified the impact of strikes in its French refineries, related to pension reform.

Excluding items, net income was $ 2.475 million euros in the third quarter (+32%), slightly higher than the 2.421 million expected by analysts surveyed by the editor of Reuters.

Including an after-tax inventory effect of negative 48 million euros and other non-recurring items had a positive impact of 400 million – including selling the group's interest in fields in Norway – the net reached 2.827 million euros (+47%).

3 BILLION EUROS INVESTMENTS IN 3RD QUARTER

Where Shell has announced an increase of 5% of its production in the third quarter, Total reported a 4.3% increase to 2.340 million barrels of oil equivalent per day, a level slightly higher than the 2.326 million expected by analysts surveyed by the editor of Reuters cash loan.

The net operating income from business segments grew 46% to 2.643 million euros for a turnover of 40,180 million, up 19%.

The group particularly enjoyed an average price of Brent crude from 76.9 dollars per barrel, up 13% over third quarter 2009 but down 2% compared to second quarter 2010.

Around 1720, the title was stable at 39.055 euros, while the CAC 40 gained at the same time 0.22%.Since the beginning of the year, he recorded a decline of over 13%.

"The results from Total, broadly in line (with expectations), will not be sufficient to excite investors," said in a note Fustier Kim, an analyst at Credit Suisse, which also notes that the three-week strike in Total refinery in early 2010 cost 30 to 40 million euros to the group.

During a conference call, Chief Financial Officer Patrick de la Chevardière has amounted to approximately EUR 100 million cost for the group of blocking refineries and oil terminals.

"I can give you an estimate (two strikes) Total cost about five to six million euros a day," he said."Our current estimate is around 100 million euros."

Investments, excluding acquisitions, Total reached three billion euros (3.8 billion) in the third quarter, compared to $ 3.1 billion during the same period of 2009 (4.4 billion).

Over nine months, these investments reached 8.5 billion euros (11.1 billion dollars).

Net debt to equity was 18.2% at end September 2010 against 22.7% at June 30 and 20.8% at September 2009.The focus group confirmed a ratio within the range of 25% to 30% by the end of 2010.

Total reported in September that its production of oil and gas would be stable in 2011 although still intends to grow by 2% per year by 2014, thanks to the contribution of new projects.

He also reiterated in September that its production is projected to increase on a year in the second half of 2010.

Dow Chemical announced Thursday a 28% drop in quarterly profit, while its revenue rose in all its business internationally, particularly in raw materials.

The largest U.S. chemical maker posted a net profit of 512 million dollars (370 million), or 45 cents per share, against $ 711 million (63 cents per share) recorded a year earlier for the same period.

Excluding items, earnings per share (EPS) of Dow Chemical came to 54 cents. Not that we know immediately whether the two figures are comparable, analysts expected EPS of 41 cents.

Its sales rose 6.8% to 12.87 billion dollars against 12.81 billion expected by analysts.Volumes rose 14%, while prices rose by 9%, offsetting higher raw material costs, the company said.

On Tuesday, rival DuPont reported a quarterly profit above expectations, thanks to higher sales of its six business segments, and raised its annual profit target beyond the consensus of Wall Street.

The Canon Japanese group reported Wednesday a 74% jump in quarterly profit, higher than expectations supported by strong sales of its printers and its digital cameras, and raised its annual profit forecast.

Canon has released an operating profit of 104.42 billion yen (926 million euros) in the third quarter, against 59.9 billion recorded a year earlier to 89.5 billion expected by analysts consensus Thomson Reuters I / B / E / S.

It is the fourth consecutive increase in quarterly earnings from the first global manufacturer of digital cameras.

For its entire fiscal year, which will close on December 31, Canon raised its forecast for operating profit to 390 billion yen, a figure still below the 396.4 billion expected by analysts.

Before the publication of its results, Canon ended down 2.29% at the Tokyo Stock Exchange. Since the beginning of the year the stock has lost about 5.5% against a decline of 12% announced by the Nikkei.

GDF Suez and Areva have resumed discussions for a partnership in nuclear power, writes Les Echos in its Tuesday edition.

The agreement would focus on the development of medium-power reactor Atmea GDF Suez and also link to both the French group Areva nuclear and Japan's Mitsubishi, the daily details.

Areva and GDF Suez had said in January to discuss a partnership in nuclear power for several months, but said no decision had been taken.

Jean-Francois Cirelli, then Vice President of GDF Suez had said the proposed partnership would not result in an exchange capital.

The Elysee Palace in July imposed a strategic alliance with EDF and Areva nuclear power, on the basis of a report prepared under the authority of the former president of the French utility, Francois Roussely.

Roussely report on overhauling the nuclear industry and the publication of a statement from the Elysee combined GDF Suez to the certification process reactor Atmea favored a resumption of talks with Areva, writes Les Echos.

Nobody was immediately available at GDF Suez and Areva for comment.

The values of the day Friday at the Paris Bourse, where the CAC 40 closed down 0.25% to 3868.54 points. For the week, the index rose by 1.08%.

* SAINT-GOBAIN (-2.96% to 34.605 euros) registered the largest drop of ACC on profit taking after a gain of nearly 23% since early September. The group confirmed its 2010 targets and published a quarterly sales above expectations through a positive currency effect and the demand from emerging countries.

* ESSILOR yielded 1.91% to 48.00 euros after having confirmed its 2010 targets by announcing a revenue slightly below expectations.CM-CIC notes that the performance is disappointing in Europe.

* L'OREAL (-1.93% to 85.74) also suffered profit taking. Nestle reiterated its intention to maintain the status quo on L'Oreal. The cosmetics group has reported a 14.6% increase in sales and an acceleration in organic growth over the previous quarter, thanks to sales of consumer products in emerging markets.

The title was won over 7% last week.

* LAFARGE lost 1.5% to 42.335 euros. Natixis has lowered its price target from 45 to 42 euros with a recommendation "neutral".

* Schneider Electric lost 0.58% to 102.80 euros.The group announced the sale of its Belgian subsidiaries Cofimines and Cofibel of their shares in the specialist electrical equipment, 0.9% of its capital.

* The values were well oriented car after some good news during the quarterly publications. RENAULT gained 2.42% to 42.71 euros, driven notably by better than expected results from Volvo, including French holds nearly 7% stake.

* PSA Peugeot Citroën has gained 2.78% to 29.60 euros.The group has completed two successful bond issues totaling one billion euros to extend the maturity of its debt.

* CAC Hors, VALEO has jumped 10.58% to 39.70 euros and signed the largest increase in DTH, after once again raised its profitability target for the second half. Several brokers have raised their price target.

* STMICROELECTRONICS took 1.95% to 5.802 euros, supported by the announcement of a reduction in the quarterly loss of ST-Ericsson, its joint venture with Swedish Ericsson. Ericsson has published better than expected quarterly.

* ALCATEL-LUCENT has also benefited from strong performance of its Swedish rival and won by 1.81% to 2.64 euros.

* ACCOR gained 2.78% to 29.53 euros.Citi reiterated that the French group was its preferred value of the European hotel industry.

* BIOMÉRIEUX (-4.51% to 70.48 euros) registered the largest decrease of DTH after again lowered its forecast for organic growth for 2010 by posting a slight increase in its quarterly sales in a European and North U.S. more degraded than anticipated.

* MERCIALYS dropped 2.74% to 29.12 euros. Goldman Sachs is no longer for purchase.

* SECHILIENNE-SIDEC has awarded 1.7% to 21.86 euros.The group reported a turnover up 38% in the third quarter thanks to its photovoltaic activities, and confirmed its outlook for the second half.

* Boiron won 4.45% to 27.49 euros after announcing a quarterly revenue up 4%. CA Cheuvreux has raised its opinion on outperformance against underperformance.

Saint-Gobain confirmed on Thursday its 2010 targets after a third quarter marked by an activity exceeds expectations thanks to a positive currency effect and the demand from emerging countries.

The world number one in production, processing and distribution of building materials for housing has made over the last three months, a turnover of 10.48 billion euros, above the consensus prepared by the editors at Reuters Based on the responses of eight analysts, which gave 10.24 billion.

In real data, the CA spring and up 7.8% in the quarter, an increase of 2.3% to structure and exchange rates.The effect of exchange represented a very strong contribution of 5.1% over the period.

"In the Wake of the second quarter, the group's internal growth this quarter is driven by emerging countries and Asia, as well as innovative materials for the pole," said Saint-Gobain in a statement.

The group, which Wendel is the largest shareholder with 17.5% stake in late 2009, also confirmed that the 2010 targets were revised upwards when publishing its interim results in July, namely a strong growth in operating income at constant exchange rates, operating profit in the second half slightly higher than the first and the generation of free cash flow of 1.4 billion euros over the year.

Saint-Gobain, one of its major competitors Irish CRH, announced last week its intention to IPO for a minority portion of its glass packaging business.In the quarterly statement on its activity, it did not come back on this project to be presented Friday morning trade unions at a central works of the branch concerned.

Before the publication of turnover, the share closed up 1.64% to 35.66 euros, giving a market capitalization of almost $ 19 billion. Since the beginning of the year, the stock has declined 6.3%.

The Paris Bourse started slightly lower Wednesday, following U.S. markets affected by concerns about the implications for banks in the survey of home foreclosures.

The CAC 40 index fell below 3800 points at the opening and was down 0.21% at 3799.40 points to 9:40.

PSA Peugeot Citroen fell by 1.3% despite sales better than expected. Investors were disappointed by the cautious outlook.

Faurecia fall of 5.5%, largest drop in DTH, after placing 13% of its capital to 18.20 euros.

Bic climbed more than 4%, stronger increase in DTH, after nine months sales.Natixis raised its rating to "neutral" to "buy".

Other major European markets are also down slightly: London and Frankfurt yield 0.13% 0.11%. Of the European indices, the EuroStoxx 50 yields 0.2% and 0.05% Eurofirst 300.

The dollar is trading at 1.3808 / 09 for one euro, 1.3730 against the previous day in the late afternoon and U.S. light crude gained 85 cents to 80.34 dollars a barrel.

Havas reported Monday in an acceleration of its business in the third quarter thanks to a rebound in France and a return to positive growth in the Asia Pacific for the good performance of China and India.

The sixth largest global advertising has achieved a revenue of 368 million euros over the period, against 326 million during the corresponding period last year.

Organic growth stood at 5.3% in the third quarter after rising 2.0% during the previous three months. In the first nine months of the year, it stood at 2.9%.

The gain in net budgets of the group amounted to 408 million euros in the third quarter.They reach 1.6 billion over the first 9 months of the year, an increase of 42% over the same period last year, a level already higher than that recorded for throughout 2009.

Havas was the first major global advertising group to publish its figures for the third quarter.The U.S. Omnicom, the world, will follow suit on Tuesday and Publicis, number three, their successor Thursday morning.

In a statement, Havas said its results have been supported by a rebound in France, with organic growth of 5.2% after a first half penalty by the loss budget of Carrefour in favor of Publicis last year.

The Asia Pacific has also returned to positive growth with an increase of 7.8%, against a contraction of 2.1% in the second quarter.

The group did not provide forecasts.

Havas, which Vincent Bollore is the chairman and largest shareholder, had said in September for the second half anticipate growth in line with that of the first and further improvement in profitability.

The Havas shares closed Monday up 5.01% at 3.6920 euros before the publication of results.

Rising fuel prices, as expected, fueled inflation in the euro area in September, Eurostat announced on Friday, confirming that the cost base remain contained and that economic recovery does not increase inflationary pressures.

The consumer prices in the 16 countries using the euro rose 0.2% from August.

On an annual basis, inflation stood at 1.8%, Eurostat said, confirming the initial estimate published two weeks ago.

This figure is in line with the objective of price stability that has set the European Central Bank (ECB), which aims to keep inflation just below 2%.

Energy prices were up 7.7% year on year in September, fuels for transport alone accounting for a contribution of 0.4 percentage point overall figure of 1.8%.

Excluding volatile items such as energy and unprocessed food, core inflation was 1.0% only one year, as in August and July.