Once more, the Americans saved the France! Friday, even in full Thanskgiving, it is the arrival of overseas investors who revived a session until then firmly in the red in Paris and most of the European places. Between a euro redevenu very expensive and difficult to read macroeconomic signals, the European managers seem more likely by the harvest of benefit. Five weeks of the end of the year, the chance to grab a few recent gains and the risk of losing those acquired, security based on many arbitrations. It is much more logical that 2006 is an atypical vintage. If its upward trend confirmed the previous two years, it was marked by a severe correction in the spring. In six weeks, the CAC 40 lost 14 for ironing under its level of early January. This accident and the catch-up following create an effect of slope which gives these months a runaway character and which calls for caution. The CAC 40 thus increased by 17 since its low on 14 June, compared to 14.3 "only" on the whole of 2006. For values such as Capgemini, Veolia, PPR, the phenomenon is further accentuated, with more than 30 gains in the last four or five months. The Palm is at Michelin, which earned course 56.5 since the end of July!
A great vintage
When the rich are rich, the champagne corks leap more top. Rare survivor among family houses independent and listed on the stock exchange, Laurent-Perrier surfing on the wave that made the heyday of the luxury industry. As a great vintage champagne is as attractive as a watch or a handbag, House Tours-sur-Marne has accelerated in recent years the rise in its production range. It is now fruits as delicious as its grapes with profits up 47 from the cumulative effect of improved product mix and increase prices and sales. Laurent-Perrier and hoisted its gross margin to 52.9 and its operating margin rose by 4.5 points to the historical level of 25.1. As the champagne is also one of financial because of the importance of inventory, group shows his talent in this area since its hedging policy helped to mitigate the impact of rising interest rates. The financial costs represent less than 20 of the operational benefit against 25.6 a year ago. With a course multiplied by 2.5 in two years and 20 times valued benefits, the father of the cuvée Grand Siècle will however continue to surprise that bubbles continue their ascent.
Bad habit
Same (dubious) issue, same (perverse). The agitation on Technip began as the drama of the real false PepsiCo's OPA on Danone in the summer 2005. In a time of market, due to the American Thanksgiving, "the Wolf" alert on the champion of petroleum engineering focused the attention of available. Wolf, than anyone, and especially lamb, had seen, with the silhouette of Saipem, a subsidiary of the ENI Group, and as started, by chance, a Franco-Italian Summit, a virtuality offers public redemption, theoretically subject to specific rules, has been transformed in fact on the front, less regulated but lively, the "economic patriotism". Technip title has won a brutal revival of favour. These poignant reunion of the France with a jewel in its heritage however left the course of Technip under its level of last March, signs that investors retain some insight. The undervaluation of Technip does not an error in the stock market but doubts on its ability to enhance capital in excess and the commands that the oil boom has made. It should not be listed companies that are struggling to enjoy at "fair value" take the habit to call at the top of the State to fill the gaps in their financial communications.
But the new networks are not if fined the leaves appearIt is difficult to imagine that this profile to outlast himLilly France is working on the same projectAccording to the original quantificationsThe place has several encouraging factorsThe modern worker in many cases must be mobileThe second has lost more than 60 since the beginning of JanuaryEven in Waterloo Ontario can win victoriesWhat to allow the French to restore the currentWith these liquidity Rio Tinto has paid 2
