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U.S. stocks opened higher Thursday, JPMorgan considered the results of positive compensating the warning on Wednesday by Moody's sovereign rating of the United States.

In early trade, the Dow Jones gained 0.1% to 12,512 points, while the Standard & Poor's 500, the benchmark for fund managers, is 0.3% to 1321 points and the composite Nasdaq ahead by 0.2% to 2803 points.

Investors seem determined to maintain the momentum of the previous day despite macroeconomic still very tense. Last night, the rating agency Moody's threatened to lose them in the U.S. triple-A in the coming weeks if Congress failed to reach an agreement to raise the ceiling on the national debt.Before that, the Fed Chairman Ben Bernanke reiterated Wednesday that "a failure of the United States on its debts, or its commitments to its own citizens, would create a major crisis."

In Europe, the situation is calmer. Fitch downgraded the sovereign rating three notches to Greece, CCC, B + cons before, dangerously close to the category of issuer insolvency. The euro area is still unable to agree on the question of a possible failure Greek. A summit on the date still uncertain, should take place next week.

Relief on the Italian front

However, investors are reassured by Italy. Despite borrowing costs record, the country has successfully issued a total of 4.97 billion euros of bonds today, to a maximum target of 5 billion."The auctions were well received in Italy in the circumstances, given the volumes required by the market and correct oversubscription," said Orlando Green, strategist at Credit Agricole CIB in London. The Italian Senate has also given the green light Thursday to a first austerity plan reinforced in an attempt to stem contagion from the crisis of debt in the euro area.

Side indicators, good news came on the employment front. The jobless claims fell in the first week of July to their lowest level since mid-April, according to figures released Thursday by the Labor Department. On a seasonally adjusted, the Ministry estimated that 405,000 new jobless claims in the week of July 3 to 9, against 427,000 (revised) the previous week.Analysts had forecast a smaller drop to 410,000.

In addition, retail sales unexpectedly rebounded in June, where they rose 0.1% over May, according to figures released Thursday in Washington by the Department of Commerce. Analysts estimated that retail sales had declined for the second consecutive month by 0.2%, according to their median forecast. Year on year, the index of the Department increased by 8.1% in June

The producer prices fell 0.4% in June in the U.S. after rising 0.2% in May, according to figures released Thursday by the Labor Department.

Note on the currency market, the rise of the euro against the greenback. It is trading 1.4205 dollars against 1.4153 last night.Oil prices are without direction, a barrel of "light sweet crude" for delivery in August lost a cent to 98.04 dollars while that of Brent North Sea crude for delivery the same takes 14 cents to 118.92 dollars.

Values ​​to follow

Side values, investors are pleased with the results of JP Morgan. The title earns 3.2% to 40.91 dollars. The bank, which opened the ball of the second quarter bank earnings, reported earnings better than expected. JP Morgan reported net income of $ 5.4 billion (3.80 billion euros) or $ 1.27 per share, against $ 4.8 billion, or $ 1.09 per share a year earlier. Economists on average had forecast earnings per share of $ 1.21. Net banking income rose by 7% to $ 27.4 billion.

ConocoPhillips reported on Thursday its intention to split into two groups by separating its refining and marketing. The transaction is expected to be completed in the first half of 2015. Investors welcomed the announcement, the title clinching 6.28% to 79.09 dollars.

Marriott International reported Wednesday a rise in earnings while delivering bleak forecasts for the remainder of the year. Its earnings per share were 37 cents against 31 cents a year earlier. Analysts were expecting 37 cents. For the full year 2011, Marriott said, anticipating an EPS of between 1.35 and $ 1.43 instead of 1.35 to 1.45 above. The title is heavily penalized, losing 6.27% to 34.81 dollars.

Yum Brands, owner of the fast food chain KFC, released Wednesday a net earnings per share to 65 cents from April to June, while analysts expected 60 cents. The group now expects annual growth of at least 12% of BPA, instead of the expected 10% increase so far. The title earns 2.42% to 56.93 dollars.

Google reports earnings after the close. Its EPS is expected to show up to 71 cents against 68 cents the same quarter last year. The title is treading water (0.08%) to 538.83 dollars.

Douwe Egberts Dutch coffee distributor and subsidiary of Sara Lee, announced Thursday that it plans to get in stock in the first half of 2012.

In the world of weight loss, it is called "Dukan effect." Far from referring to the weight loss of the followers of the method of Dr. Pierre Dukan high protein, the term refers to the earthquake has caused its rapid success in the market regimes.

"Since launching our website in 2008, 500,000 people have used our services," says the Figaro.fr Eric Levasseur, CEO of RégimeDukan.com, online service to support the regime. This figure does not however say how many customers are currently active on the site. To achieve this, the entrepreneur says he has not spent a dime on advertising. Media coverage and the very important word of mouth was enough. In addition, this success is due to an unbeatable price on the market, to 18 euros per month. In comparison, subscribe to premium services of Jenny Craig costs 380 euros per month, those of Weight Watchers, about 40 euros per month.

Three ingredients

Otherwise, the business model is based on Dukan a classic recipe with three ingredients. First, the publication of a book, "I'm not losing weight," bestseller in 2010. Then, offer coaching as a service fee. It is the function of RégimeDukan.com held by Marc Simoncini, Meetic founder, Eric Levasseur and children of the inventor of the method.

Last element of the strategy, products "house" manufactured under license, such as oat bran. "The 25 food products we offer for sale are regularly out of stock", says Eric Levasseur. The sale of meals, also proposed by Jenny Craig, has been tested since 1973 in France by Weight Watchers, the history of the area. For the latter, "the business of licensing products represent only a few percent of revenue," says her manager Corinne Pollier France.

The success of Dukan has not stifled competition. Instead, he seems to have created a renewed interest in France for the plans. Thus, Weight Watchers France announces "growth for two years" and has 120,000 active customers in early July. Jenny Craig brand, launched on the market in early 2010 by Nestlé hexagonal, celebrated for its part, the 10,000 th customer in late June. "It's beyond our initial objectives, ensures the boss of France's premium brand, Erick Moreau. We hired over 30 people since early 2011 and now have over 100 employees. "

Booming sales of surimi

Dukan is not only limited effect on the market methods of diet (500 million euros of turnover, against 5 billion for the sector of thinness at large). It also causes a tidal wave less visible in the food products that "light" generated 1.5 billion euros.It's simple: all the foods recommended in its method Dukan turn into gold. The turnover of surimi has enjoyed a double-digit growth in recent months. Sales of fresh cheese (fromage blanc in particular) grew by 14.5%, according to the specialist market research SymphonyIRI.

Still, with the recent controversy about the effectiveness of the regime and the disappointment of Dr. Dukan court, the effect will last Dukan he? "The ruling will not affect our business. The public is not fooled, says Eric Levasseur. We record even a 30% increase in registrations in the first half of 2011. "

Some competitors, however, fear side effects. "The media effect Dukan has cast doubt on the effectiveness of all plans," laments Erick Moreau.Others, like the union's general secretary of dietetics, Jean-Loup Allain, relativize: "For 30 years I have been in the business, plans star there was every year. Dukan has simply replaced the previous ones. "

Dukan is the world

With its success, start-up runs on equity and did not have to organize a capital increase from an initial one million euros. Its international expansion is also financed his own money, said Eric Levasseur. Closely following the launch of the book "I'm not losing weight" in these markets, RégimeDukan.com is being launched in Russia, China, Poland, Germany. It has been online for one month in the United States. In addition, it is already present in Spain, the UK and Italy.

At the same time, Dukan is recruiting 10 persons in Russia, fifteen in the United States.In total, the start-up has between 30 and 40 people abroad, in addition to its fifty employees in France, plus thirty in the rest of Europe.

It's like income a year and a half ago. At the time, Renault intends to build its Clio IV in Turkey and not on the site Flins in the Yvelines. The government had to intervene and finally get the direction the car is partly built in France.

Will history repeat itself with PSA that intends to close its factory in Aulnay-sous-Bois (Seine-Saint-Denis) and Sevelnord (North). Except that unlike Renault's 30% owned by the state, the manufacturer, a lion is a 100% private. The scope of government is much smaller.

"These companies are accountable to the nation"

The State is taking this matter very seriously.If the Minister of Industry, Eric Besson, who met Thursday evening PSA CEO, Philippe Varin, said he was "reassured" by the commitments made by the carmaker, Prime Minister Francois Fillon, the move to guérande (Loire-Atlantique), did not hesitate to call the toll paid by the state to help a struggling sector during the economic crisis. At the time, PSA and Renault had received three billion euros each. "Given the large amount of aid made to the French car industry by the government, I would not and would not understand that these companies are not beholden to the nation that has helped low interest personal loan." The Prime Minister will also have the opportunity to discuss this news with Philippe Varin on Saturday, as both men find themselves in the 24 Hours of Le Mans.

The Socialist Party (PS) is however not reassured."I do not have much confidence in his statements (Philippe Varin), says the spokesman of the Socialist Party, Benoît Hamon. Because we see a real transhumance migration of automotive production facilities and their equipment from the west to the east of Europe. " For its part, the Socialist mayor of Aulnay-sous-Bois, Gerard Segura, is confident that "until 2016, when production of the C3 should end in this factory. The industrial director of PSA, Denis Martin, had said Thursday that "industrial, it is absolutely impossible to give a guarantee on a sustainable medium and long terms. We have visibility into our roadmap to a year or 18 months. It is an absolute maximum, "he concludes. No doubt the state will seek to convince SAP to reconsider its plans.

The tax reform of heritage, to remove the tax shield and develop the solidarity tax on wealth (ISF), was discussed Wednesday by the Cabinet. The bill marks the final disappearance of the tax shield, yet highly symbolic as the beginning of the quinquennium of Nicolas Sarkozy, who eventually disappeared under the pressure of repeated criticism from the opposition but also of the majority.

In contrast, the solidarity tax on wealth (ISF) remains in place, but in a lighter version. The reform will indeed allow some 300,000 taxpayers whose assets ranged between 800,000 and 1.3 million euros, to escape this tax.

The government relies on a passage of the bill no later than early July.The text will be submitted to the National Assembly in early June and will be accelerated procedure, which allows only one reading per room. The reform will apply from 1 January 2012.

The tax cap took effect on 1 January 2007. It was capped at the time the taxes (income tax, wealth tax and local taxes) at 60% of revenues. After the arrival of Nicolas Sarkozy at the Elysee, the threshold was lowered to 50%.

(With AFP)

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The reform of the ISF should apply to tax payable this year. This will help to 300,000 households with assets of between 800,000 and 1.3 million euros to escape the levy. Yet, June 15, usual time of payment of the ISF, the reform will not yet adopted by Parliament. To make the system applicable this year, the authorities have planned to postpone the date to September 15, 2011.

This vagueness will not push the subject to the first installment of the ISF to consider the tax exemption before being fixed and especially worried about the foundations of public benefit, which collect large donations through this channel. "The situation, its suddenness and its uncertainty, is frankly disturbing," says Francis Charhon, president of the French Center Foundation, which fears a fall collection.For assets exceeding EUR 1.3 million, donations to charities are tax-exemption form yet the most interesting, with a deduction of 75% and a ceiling remained at 50 000 payday advance. To simplify and personalize the process, the Fondation de France has even created a website to choose the project to be funded.

Funds that invest in unlisted companies, the FIP and the FCIC, provides, them, an ISF reduction of 18,000 euros maximum (50% of the amount invested in unlisted). Reform or not, they should still be successful. "Last year, they were competed by holding companies. However, they have virtually disappeared, "said Christian Foil, president of Finaréa. Like other managers FIP and FCIC, the company recently launched funds that will alleviate the ISF 2011 … in June or September.

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Take action publicly traded group neither too small nor too large, but rather the media. Shake it skillfully through several transactions not too discreet. Let the rumor thrive … When the market this action starts to boil, enjoy.

This technique of "tea" – a form of manipulation, of course – may well be that the action was lively Euro Disney in recent weeks. In February, the stock suddenly more than doubled to more than 9 euros, in trading volumes amazing (up to 4 low fee cash advance.5% stake in one sitting). He still traded around 7.70 euros today.

The Autorité des marchés financiers (AMF) is conducting its investigation for several months. But according to our information, a track is preferred.That of a small company of algorithmic trading, based abroad, including the AMF has already crossed the name several times in similar surveys. The AMF is no comment.

"There is no concern for supplies." The CEO of Total, Christophe de Margerie, before an audience of patrons of the oil and gas gathered Tuesday in Houston for the conference Cera Week, has hammered its reassuring message. "Saudi has the capacity to address the lack of Libyan production," added the French boss.

While across the Atlantic where gasoline exceeds the psychological threshold of four dollars a gallon in several states, the votes are increasing for the Obama administration draws strategic stocks. Christophe de Margerie replies: "These stocks are made for real shortages. Using them would send a signal to markets of fear. "

Invited to give a broad picture of the oil interests for years to come, the CEO who shows the greatest benefit of the CAC 40, with 10.2 billion euros, was less confident for the medium term."We can worry about our ability to increase production" of oil to meet rising demand, driven by emerging countries. However, investment in exploration and production suffers from the uncertainty room basically said de Margerie. And "the situation in the Maghreb does not make things easier, others" Libya "can occur."

Total up on Russia and Brazil remains cautious

Total particularly focuses on the Russian far north to secure its supply as evidenced by the recent acquisition of 12% of Russian producer Novatek independent for 4 billion. However, Total is not ready for the moment to invest heavily in another region of the world reserves underwater very promising: Brazil. The Brazilian Petrobras does not sufficiently profitable, said de Margerie."Petrobras is understandable if the returns are not as good as U.S. Treasuries that it is not worth going there."

More unexpected from a pattern of "Big Oil" as it means the world of big oil companies, Christophe de Margerie has a clear call to "reduce demand" for oil. Which can come only in developed countries, "a better use of energy." A logical conclusion because in a world of growing uncertainties, Christophe de Margerie said it was hard to bring the world oil production, currently at 86-87 million barrels per day in excess of 95 million barrels per day.

Life insurance is not a matter of responsible adults. Young people and kids can also have one. Some grandparents have indeed chosen to open for them contracts to give them a financial boost. To help your grandchildren during your lifetime, to acquire a house for example, you can purchase a contract (called intergenerational), designed to facilitate donations.

Its principle is simple: you give money to your grandchild (up to € 31,395 every six years), with the obligation to reinvest in a life insurance contract. Here, and it's a big difference, the policyholder is other than your grand-son (daughter), even if minor. His parents then take care of all formalities.

To secure your donation, you can write, preferably with the help of a notary public, "Deputy pact" which will include a specified date of availability of savings (at 18 years of your grandchild, at the end of high school, etc..) and / or use of funds (for a house purchase for example). This method has the advantage of being "visible", so to avoid conflicts at the time of succession. And it can also take time "tax" because when the contract will be eight years, he will receive reduced taxation.

Another solution: make your beneficiaries

Purchase a single contract for the benefit her grandchildren is the easiest way to show generosity. You save at your pace and have at any time of your savings. You also know that capital is available on your contract will be forwarded without fees, outside succession (art.L 132-13 of the Insurance Code, available on the website governmental law publishing Legifrance. This applies if the amount does not exceed 152,500 Euro per beneficiary (for payments after 70 years, the deduction is limited to 30,500 euros per beneficiary). But, and this is the main problem with this formula, you are not comfortable when the money will be used, because the savings will be passed to your death.

Be careful also not to injure your heirs (children, etc..) So that the premiums are not considered excessive and reinstated, therefore, in your estate.

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The news has surprised market observers, and on Wednesday morning. In the race to succeed the French Jean-Claude Trichet, president of the European Central Bank, the favorite would have thrown in the towel. Germany's Axel Weber, head of the German Central Bank, the Bundesbank, would in effect told a meeting in a closed circle that he was not interested in another term, Reuters reported, and German media .

"Weber's candidacy to head the ECB is no longer on the agenda," said one source at the news agency. The Wall Street Journal, meanwhile, said that Weber said "he would not seek re-election necessarily at the head of the Bundesbank." His interlocutors have deduced that it would withdraw from the race for the presidency of the ECB.The Heads of State and Government should appoint a successor to Jean-Claude Trichet late March in Brussels.

The news of the withdrawal of Axel Weber has dropped sharply, but temporarily, the euro by late morning. The confusion was increased by the contradictory statements of the Bundesbank (Buba). She initially told a news about his boss, then retracted and deny the rumors. According to Reuters citing sources inside the Buba, Axel Weber did not consider it necessary to issue a final statement. It would, however, met with German Chancellor Angela Merkel on Wednesday morning. No information was available about the contents of the call.

A hawkish media

Axel Weber is one of the "hawks" on more media on the Board of Governors of the guardian of the euro.His outspokenness and his vocal opposition to the redemption of government bonds by the ECB reduced its chances of winning, insulation increasingly faced with more moderate colleagues about the conduct of the institution's policy .

The abandonment of Weber in the race for the presidency of Jean-Claude Trichet opens the way for challengers. Foremost among these is the Italian Mario Draghi. However, his visit to the much-criticized Goldman Sachs could be hampering its chances of winning. Personalities from smaller countries in the euro zone also would return to the front of the stage as the Finn Erkki Liikanen or Yves Mersch of Luxembourg. But perhaps another German, Klaus Regling, current president of the European financial stability, which could ultimately prevail, according to analysts at Barlcays Capital.

In lla closing U.S. equities, the Dow Jones advance of 0.58% at 12,162 points. The Standard & Poor's 500 and Nasdaq 100 rise respectively from 0.62% to 1319 points and 0.53% at 2784 points.

Nasdaq acknowledged Saturday that its computer system was hacked, which had interrupted his particular listing more than an hour Friday, January 28. But the index, dominated by technology, should work normally on Monday. A federal investigation is underway to identify those responsible for such intrusions. Part of the system that runs the exchange was not affected by piracy.

Wall Street continues its momentum and finally positive last week. Four times lower than expected for the month of January, job creation were disappointed last Friday, the U.S., but investors reacted positively to the sharp decline in unemployment.Also in the acquisitions, the manufacturer of biomedical testing equipment for Beckman Coulter (9.95% to 82.65 dollars) on Monday announced an agreement to be bought by the industry group American Danaher (2.19 to 49% , 03 dollars), with $ 6.8 billion in cash, including debt.

Household spending and consumer credit

"In the U.S., key economic data this week will be published Friday-state in that regard analysts Aurel BGC-with the trade balance for December and the preliminary estimate of consumer confidence by the University Michigan paydayloans. Wednesday, Bernanke will speak before the House Budget Committee.On the merits, his speech should be close to one he gave last week. "

62 Publication of results of companies in the S & P 500

The agenda of business publications, to the least busy this week, should have more impact on the market: 62 values in the Standard & Poor's 500 indeed reveal their quarterly results. Already since the beginning of the season's fourth quarter, 75% of companies beat the consensus in terms of turnover.

Carried by the prices of raw materials, metals and petroleum experts have closed up. The Alcoa aluminum companies is 1.05%, Chevron and Exxon earns 0.57% 0.78% advance.

Hasbro also climbed from 1.81% to 45.63 dollars after reporting a quarterly profit decline due to limited demand for its fighter figurines, games and puzzles during the key holiday season year-end.

From Monday, Cognizant, FMC, Hasbro, Loews, Lorillard and Pioneer Natural Resources will open, among other things, this ball weekly.

By Tuesday, Walt Disney, Mc Afee, Sara Lee and sacrifice in the exercise, before Akamai Technologies, Cisco, Coca Cola and Whole Foods on Wednesday. By Thursday, it was the turn of C ephalon, Goodyear Tire & Rubber Co., Kraft Foods, PepsiCo or Sprint Nextel (Thursday).