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The technical rebound that would make sense after the recent decline on Wall Street will perhaps not be because investors are still wondering about Greece and on economic growth and the corporate earnings season and its possible surprises coming to an end.

The Standard & Poor's, the benchmark for fund managers, Friday fell below 1,300 points, after a sixth straight session of decline.

The S & P lost 4.3% over the past week, its biggest weekly decline since the beginning of the year. The Dow Jones at the same time lost 3.5% and the Nasdaq Composite 5.3%. The S & P lost 7.3% since early May

In addition, the first trading day of chaotic Facebook has made a bad impression.

G8 leaders have spoken this weekend for the maintenance of Greece in the euro area and pledged to take all necessary measures to revive the economy, recognizing that the same revenue could not be applied everywhere.

"The market is extremely oversold. Nevertheless, all major indicators remain on sell signals," said Larry McMillan, president of McMillan Analysis Corp in a note published Friday.

"We expect a significant rebound but short soon. But at this stage, unless major changes in our indicators, it could be a rebound in a market downtrend. "

…… .. Among the economic indicators of the coming week, investors will look at existing home sales for April, Tuesday, expected to 4.60 million units annualized, against 4.48 million in March

. The next will be published the new home sales. There should be 7,000 more than the 328,000 annualized in March … The

…… weekly jobless claims and durable goods orders are expected for Thursday while the index of consumer sentiment published by Reuters and University of Michigan to be released Friday. are expected flat in May compared with April

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The property prices fell in 43 of the 70 cities monitored by the Institute of Chinese statistics. Only three cities have recorded an increase. Prices remained stable in the remaining cities.

The measures taken by Beijing to prevent the bursting of a housing bubble in China are bearing fruit. Average prices real estate in April continued their downward trend for the seventh consecutive month, according to figures reported Friday by the government. Over a month, prices of new homes fell in 43 cities and towns of 70, reported the National Bureau of Statistics.

Prices remained stable in 24 others and increased in three cities. The decline had affected 46 cities in March. The building is a key sector of the Chinese economy alone generates about 10% of GDP, and much more if one takes into account the production of steel and concrete upstream.  

After reaching highs that have raised fears the Government the bursting of a housing bubble, the housing market began to return in the fall, but Beijing has so far refused to lift restrictions put in place to acquisition of homes by individuals for fear of boosting speculation.

"We must firmly tighten control of the real estate market", commented Friday even in the Chinese press Zhang Xiaohong, a senior Ministry of Housing.

The Lafarge cement and mining group Anglo American will need to make significant disposals to get clearance from the British authorities for their proposed joint venture in building materials, a condition which spe London ; it will re emergence of new market entrants.

Without these divestitures, estimates the Competition Commission, the rapprochement between the two companies would hurt competition in Britain.

Lafarge and Anglo American had announced in February 2011 a proposed merger of their building materials in the United Kingdom in a joint venture equally owned. 

This agreement, aimed at consolidating all activities of cement, aggregates, ready-mixed concrete and asphalt work of both groups in the UK market, should enable the French group to reinforce the Channel.

On February 21, the UK Competition Commission had already indicated that in his view, the merger of the two groups, whose combined turnover on the basis of 2010 was 2.1 billion euros, with potential consequences for competition and that, to remedy the situation, both partners should sell assets. 

Tuesday, she said that these transfers were to cover "a significant portfolio of operations" including in particular a cement factory, two asphalt plants, or a career, a set that would allow the entry of a new competitor on the market.

Lafarge and Anglo American have each in turn welcomed the decision. The French group said he was "confident" in their ability to meet the condition set.

Analysts believe that these sales could attract a significant number of potential buyers despite the ambient climate of austerity in Britain, which could weigh on infrastructure spending.

HOLCIM AND Breedon, POTENTIAL BUYERS

The British cement market is currently dominated by Lafarge, Tarmac, a subsidiary of Anglo, Mexican Cemex and Hanson, controlled by Germany's HeidelbergCement.

Many analysts expect that the Swiss Holcim, already present in aggregates and concrete ready in the UK but not in the cement, could be a possible acquirer cement assets concerned. 

Breedon Aggregates, leading independent player in the UK market for aggregates has confirmed his side would look at the assets being sold.

Around 2:45 p.m. GMT, Anglo American gained 1.77% to 24.10 pounds, while the FTSE 100 London Stock Exchange, only open market in Europe in May 1, earned 1.19%.

The timing and terms of sales required by the Competition Commission will be clarified after publication of the final report on the project. 

"We believe these important assignments will help protect the interests of all customers in these key markets, which particularly important when studying how Construction is funded by public money, "said Roger Witcomb, the Chairman of the Committee of Inquiry into the Anglo-Lafarge case.

Anglo American, the approximation provided between Tarmac and Lafarge's UK business was an intermediate phase, as it seeks to sell its subsidiary for several years. In announcing the transaction, the mining group had also said that eventually, his goal remained to assign its interest in the joint venture.

Lafarge had said at the time that the operation would not impact on the group in terms of cash.

Anglo American, one of the world's largest mining companies, is also listed in South Africa.

Lafarge is the world leader in cement, aggregates number two and number four of the concrete. As part of its debt, it is almost released last year of his other business, the plaster.

Bonduelle wants to reduce the share of its business in France and, overall, in Western Europe where consumption remains sluggish, and grow in North America and Eastern Europe where the group recently conducted a series of acquisitions.

In an interview with Reuters, the chairman of the group specialized in canned and frozen vegetables believes that France could well be less than 20% of its sales in five years , against 36% today.

The group's strategy is to "dilute France and Europe as a whole, for reasons of profitability but also risks," he says. 

Bonduelle generated an operating margin of just 2.2% in the EU in the first half of fiscal 2011-2012, while it reached 12.9% in the rest the world.

"Two thirds of sales account for only one third of our profitability and vice versa. There is no need for great strategist will tell rather outside Europe, "notes Christophe Bonduelle

. This profitability gap, found long, has also prompted the group, created in 1853 to engage in acquisitions outside the European Uni ; enemies

. In March, Bonduelle has acquired three U.S. processing plants and a fitness frozen vegetables belonging to the group Allens American as well as industrial and commercial assets of the cooperative group in Russia Cecab FINANCING DEBT

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For these acquisitions, the group chose to go into debt rather than carry out a capital increase. 

According to the president, "the magnitude" of the group's net debt at the end of the 2011-2012 fiscal year and should be at 591 million euros, as provided sees analysts, while at the end of 2010-2011 it totaled 492 million euros.

These acquisitions will allow the group turnover exceeding 1.8 billion over the 2011-2012 fiscal year, ended June 30, against 1.7 billion euros a year earlier.

"We'll pass the milestone of two billion euros over the 2012-2013" provides Christophe Bonduelle.

Allens plants will bring nearly 130 million euros in turnover for the year 2012-2013, an amount which will increase to 170-180 million in the next three years. 

"A three-year horizon, North America will represent about 500 million euros in revenue" while on the year to June 2011, sales in this area totaled $ 284 million.

The acquisitions made in Russia will have an "extremely limited impact" on the 2011-2012 fiscal year but in 2012-2013 are expected to add revenues of the order of ten million euros.

"But this operation we should primarily relate to profitability as we go" Russify "a larger portion of our goodwill out there".

Around 10:30, the action Bonduelle yielded 1.36% to 72.4 euros (-1.36%) showing a market capitalization of 579.20 million. It grew by 15.8% since the beginning of the year.

Executive Director of the IMF is confident that the fund benefit from a strong increase in resources will devote to help countries protect themselves or to die make the debt crisis of the euro area, now that Europe has taken its own measures.

Believing that "the euro area is the epicenter of the potential risk" to a global economic recovery "timid and fragile," Christine Lagarde also urged European authorities to directly inject some funds from international aid troubled banks.

"We believe our firepower will increase substantially as a result of this meeting," she said at a news conference at the start of the spring meetings of the International Monetary Fund (IMF) and World Bank. 

The IMF wants to recover at least $ 400 billion of new money, which would double its resources to address the crisis in the euro area and its aftermath.

He has collected so far $ 320 billion, from the Europeans and Japanese. He wants to see the major emerging economic powers make their contribution, which are reluctant as they have no assurance they will have greater control over the management of the Fund.

Greece, Portugal and Ireland have already received a combined support of the European Union and the IMF and the markets fear that as it may The same shortly for other countries in the eurozone such as Spain and Italy.

The finance ministers of the BRIC – Brazil, Russia, India, China, South Africa – were to meet Thursday in Washington and the question of IMF financing will certainly be addressed. 

This increase in IMF resources should also be discussed by the Group of Seven (G7) at an informal meeting Thursday, mandated by the Group of Twenty (G20) on the occasion of a dinner ; dinner and meeting again Friday.

"Ensuring that the Fund has sufficient resources to handle crises and promote global economic stability is in the interest of all Member States," said Christine Lagarde Wednesday.

The spring meetings will conclude on Saturday by a steering committee meeting of the IMF Development Committee and joint IMF / World Bank.

Christine Lagarde praised European initiatives but also felt that the bailout mechanisms could be used to directly inject capital into banks. 

"The European Stability Mechanism (MES) and the European Financial Stability Facility (EFSF) may actually participate with respect to recapitalize, anywhere in the euro area", has she said.

ASML on Wednesday issued an earnings slightly better than expected first quarter and anticipates a stable revenue in the third quarter, the level of the first half.

The world leader in engraving machines semiconductor anticipates a turnover of 1.2 billion euros in the second quarter after 1.25 billion in the first quarter. Reuters gave the sales of 1.209 billion in the first quarter.

The Dutch group has also reported net earnings of 282 million euros, compared to consensus building on 278 million.

The value of its order backlog was 865 million euros in the first quarter but he finds it difficult to predict what will be the second quarter as orders received are fewer but larger magnitude.

Wall Street indices finished in a disorganized Monday, the Dow for his part having benefited from the support of consumer values ​​in a stock market that has adopted a defensive posture.

Such values ​​is seen as a safe haven for investors in times of crisis.

Renewed fears arising from the debt crisis in the euro zone in general and Spain in particular has offset the good effect created by retail sales, which explains the clos ; ture no clear trend in the S & P-500.

In contrast, the Nasdaq has fallen in the wake of Apple, whose shares gained 45% since the beginning of the year and was thus exposed to equity bé ; néfice. 

Mattel, which saw its quarterly revenue decline, and Google, Oracle facing the courts, have also sealed the Nasdaq.

The Dow Jones gained 71.82 points (0.56%) to 12,921.41 points. The S & P 500 lost 0.69 points (0.05%) to 1,369.57 points. The Nasdaq Composite yield 22.93 points (0.76%) to 2,988.40 points.

The stock market had yet received good news in early trading.

Retail sales in the U.S. rose 0.8% in March, above expectations, despite rising gasoline prices, suggesting that the e U.S. economy has not slowed in the first quarter as much as some might fear.

But not long after, the stock market learned that the moral property developers had declined in April for the first time in seven months, with an index NAHB / Wells Fargo standing at 25, disappointing expectations economists who were waiting stable at 28. 

To drive the point home, the New York Fed announced that manufacturing growth had slowed sharply in April in its region to reach its lowest level in five months.

Citigroup was also good news in early trading in reporting a profit above expectations in the first quarter 2012 through a decrease of 7% of its expenditure, improving the economy and financial markets more active after a difficult year-end 2011. The action takes Citigroup 1.77% to $ 34.

Values ​​always, Avon sells 2.08% to 23.03 dollars. Coty reiterated Monday that he proposed to buy Avon Products to 23.25 dollars per share, an offer to $ 10 billion (7.6 billion euros) that specializes in direct sales cosmetics had rejected earlier this month in the judging undervalued.

The high techs, Apple sells 4.15% to 580.13 dollars.

Google gives up 3% and 0.5% ahead of Oracle. Oracle has filed suit against Google in August 2010, accusing the Android operating system of the latter of infringing intellectual property relating to its Java software. Jury selection began for PROCESA Monday.

Mattel drops by more than 9% to $ 31.

It goes almost without a day in Italy a new drama is announced. A network of counseling has also been set up by an association of undertakings. All in a political climate very deleterious, which accuse each other of political recovery.

In late March, a mason sued for not paying his taxes had set himself on fire. He died after nine days of agony. A drama today far from being isolated in Italy, hit hard by the crisis. In recent weeks, the media of the peninsula are almost every day the echo of the desperate act of a contractor weighed down with debts and only seeing the closure as a future for your company, or employees dismissed without espour while Unemployment reached a record 9.3% in February. Dramas that evoke a strong emotion in the country.

"It's a terrible sign of desperation, a unique case of distress, which illustrates a time of great difficulty," said the former head of government of Romano Prodi left after the procedure of Mason Bologna. Angelino Alfano, LDP party leader Silvio Berlusconi (right), said he was on his side "very hurt" by "a wave, which has never been so long, suicide due to reasons of economic hardship." This is "the reflection of an unbearable situation" in the economic and social, not "isolated news items" found Sergio Marchionne, the boss of Fiat Auto, the largest in the country.

The number one party Italy of Values ​​(left) has instead created a controversy by attacking the prime minister Mario Monti who, he says, "the suicides of consciousness" when he "tells lies in newspapers on the crisis would be over. " Already hit by a deep crisis in 2009, Italy, leaded by the debt crisis and austerity plans for the chain to reassure the markets, just plunge in the recession at the end of last year.

Businesses are strangled by debt

Faced with this increase in suicides, the organization "Companies that resist" (che Imprese resistono) has set up a network in several regions of counseling called Terraferma to allow contractors or employees to discuss their problèmes.Alors that companies are already "proven" the first recession since 2009, "it currently takes to put them in big trouble," said Massimo Mazzuchelli, entrepreneur of the province of Varese (northern) which is responsible for this project . 

Strangled by debts, tax arrears and late payments from their customers, they are also very difficult to obtain credit from their banks, he says. "There is a concrete need for psychological support as the situation worsens". Lead contractors to lie on the couch is not easy, he admits, as they are often made their own and are used to solve their problems alone "

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psychoanalyst in Veneto (Northeast) participating in this initiative, Kety Ceolin notes that contractors who consult are beset by "shame" have "no hope in the medium term and feel that there is no interlocutor who seek practical help. "But" to talk with someone (they) can open and avoid the risk of isolation that leads to dramatic gestures, "said she

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The gold price could rise next year a historic peak above 2,000 dollars an ounce, after 12 years of growth, before tapering off as the monetary policies of major world economies return to normal, said the president of GFMS, a consultancy specializing in metals.

The market is expected to set new records around the beginning of 2013 after difficulties this year due to weaker demand in the physical market and the slowdown investment in bullion, told Reuters Philip Klapwijk, on the occasion of the publication of the annual report on the subject of GFMS. 

He emphasized that the persistent concerns related to the debt crisis in the euro area, as growing expectations of further monetary easing by the Federal Reserve, should be given to gold, whose price could exceed $ 2,000 per ounce.

But this increase could be short-lived, especially in the event of a rise in U.S. interest rates.

Philip Klapwijk table for 2012 on an average gold price of 1,731 dollars an ounce, in a trading range of 1530-1920 dollars. The ounce of gold in September reached a record high of 1,920.30 dollars per ounce.

GFMS is a group company Thomson Reuters.

Greece rejected again on Thursday the deadline for the exchange of debt issued by it, giving investors concerned until April 20 to make a decision .

Athens had said that the conversion of 20.27 billion euros of debt placed on the exchange and corresponding to 72% of securities issued under a system not under Greek law would take place on April 11.

The deadline for investors who refused to participate in the exchange to reverse their decision had already been extended to April 4 by the Greek government, who said no not afford to repay. 

Three options are now open in Athens vis-à-vis investors who continue to refuse to participate in the exchange: to continue to service the loans in question, to die be on these securities may offer a trial or improved while ensuring fair treatment for investors who have already accepted the exchange.

The Greek authorities have not yet decided but none of the tracks envisaged undermine the exchange agreed last month by private creditors, which conditioned a new slice Country Assistance.

Meetings of bondholders were held from March 27 to 29 to determine the contribution of 36 lines. The decision was adjourned for seven of them, representing an outstanding facial 2.45 billion euros and for which the deadline of April 18 was also ; postponed to April 20.

March 12, Athens had exchanged sovereign bonds governed by Greek law with a face value of 177 billion euros against new titles, with the resulting loss of value of 74% for de Holders of bonds.