• Теги
    • избранные теги
    • Компании48
      • Показать ещё
      Страны / Регионы6
      Разное1
      Люди1
Unibail-Rodamco
Выбор редакции
01 декабря 2015, 15:25

Unibail's Mall Strategy: Bigger Is Better

Unibail-Rodamco’s new Mall of Scandinavia is the biggest mall in the Nordic region, and it reflects the splashy side of Europe’s largest listed landlord’s retail strategy.

26 июня 2015, 19:35

Netherlands stocks higher at close of trade; AEX up 0.42%

Netherlands stocks were higher after the close on Friday, as gains in the Real Estate, Telecoms and Financials sectors led shares higher. At the close in Amsterdam, the AEX gained 0.42%. The best performers of the session on the AEX were Ahold Kon (AMS:AHLN), which rose 1.84% or 0.33 points to trade at 18.00 at the close. Meanwhile, Unibail-Rodamco (AMS:UNBP) added 1.75% or 4.10 points to end at 239.00 and Akzo Nobel (AMS:AKZO) was up 1.51% or 1.03 points to 69.36 in late trade. The worst performers of the session were Royal Dutch Shell A (AMS:RDSa), which fell 0.98% or 0.26 points to trade at 26.34 at the close. Philips Kon (AMS:PHG) declined 0.44% or 0.10 points to end at 23.52 and Boskalis Westmin (AMS:BOSN) was down 0.40% or 0.18 points to 45.23. Rising stocks outnumbered declining ones on the Amsterdam Stock Exchange by 141 to 87 and 12 ended unchanged. The AEX Volatility, which measures the implied volatility of AEX options, was up 0.89% to 22.45. Crude oil for August delivery was down 0.12% or 0.07 to $59.63 a barrel. Elsewhere in commodities trading, Brent oil for delivery in August rose 0.15% or 0.10 to hit $63.30 a barrel, while the August Gold contract rose 0.01% or 0.10 to trade at $1171.90 a troy ounce. EUR/USD was down 0.59% to 1.1137, while EUR/GBP fell 0.42% to 0.7081. The US Dollar Index was up 0.47% at 95.82.

12 июня 2015, 19:35

ance stocks lower at close of trade; CAC 40 down 1.41%

France stocks were lower after the close on Friday, as losses in the Gas&Water, Construction&Materials and Healthcare Equipment&Services sectors led shares lower. At the close in Paris, the CAC 40 fell 1.41%, while the SBF 120 index fell 1.36%. The best performers of the session on the CAC 40 were Kering (PARIS:PRTP), which rose 0.53% or 0.85 points to trade at 159.90 at the close. Meanwhile, Alstom (PARIS:ALSO) added 0.02% or 0.01 points to end at 26.40 and Peugeot SA (PARIS:PEUP) was down 0.03% or 0.01 points to 18.71 in late trade. The worst performers of the session were Unibail-Rodamco (AMS:UNBP), which fell 2.39% or 5.55 points to trade at 227.10 at the close. GDF Suez (PARIS:GSZ) declined 2.05% or 0.36 points to end at 17.16 and Air Liquide (PARIS:AIRP) was down 1.96% or 2.30 points to 114.90. The top performers on the SBF 120 were Alten (PARIS:LTEN) which rose 0.71% to 41.74, Nexans (PARIS:NEXS) which was up 0.56% to settle at 36.22 and Kering (PARIS:PRTP) which gained 0.53% to close at 159.90. The worst performers were Zodiac Aerospace (PARIS:ZODC) which was down 5.36% to 31.00 in late trade, Solocal Group (PARIS:LOCAL) which lost 5.05% to settle at 0.357 and Montupet SA (PARIS:MNTP) which was down 4.08% to 68.100 at the close. Falling stocks outnumbered advancing ones on the Paris Stock Exchange by 678 to 221 and 60 ended unchanged. Shares in Solocal Group (PARIS:LOCAL) fell to all time lows; losing 5.05% or 0.019 to 0.357. The CAC 40 VIX, which measures the implied volatility of CAC 40 options, was up 7.79% to 24.89. Gold for August delivery was down 0.06% or 0.70 to $1179.70 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in July fell 0.87% or 0.53 to hit $60.24 a barrel, while the July Brent oil contract fell 0.99% or 0.65 to trade at $64.47 a barrel. EUR/USD was up 0.17% to 1.1278, while EUR/GBP fell 0.01% to 0.7251. The US Dollar Index was down 0.14% at 94.83.

11 июня 2015, 19:35

ance stocks higher at close of trade; CAC 40 up 0.74%

France stocks were higher after the close on Thursday, as gains in the Leisure Goods, Personal Goods and Real Estate sectors led shares higher. At the close in Paris, the CAC 40 rose 0.74%, while the SBF 120 index climbed 0.65%. The best performers of the session on the CAC 40 were Peugeot SA (PARIS:PEUP), which rose 2.58% or 0.47 points to trade at 18.72 at the close. Meanwhile, LVMH Moet Hennessy Louis Vuitton SA (PARIS:LVMH) added 2.45% or 3.95 points to end at 165.50 and Unibail-Rodamco (AMS:UNBP) was up 2.44% or 5.55 points to 232.65 in late trade. The worst performers of the session were Alstom (PARIS:ALSO), which fell 3.23% or 0.88 points to trade at 26.39 at the close. Arcelormittal (AMS:ISPA) declined 2.71% or 0.27 points to end at 9.73 and Schneider Electric (PARIS:SCHN) was down 1.46% or 0.96 points to 65.00. The top performers on the SBF 120 were SCOR SE (PARIS:SCOR) which rose 3.69% to 32.16, Tarkett (PARIS:TKTT) which was up 3.25% to settle at 22.26 and Television Francaise 1 SA (PARIS:TFFP) which gained 2.85% to close at 15.695. The worst performers were Altran Technologies (PARIS:ALTT) which was down 4.58% to 9.480 in late trade, Solocal Group (PARIS:LOCAL) which lost 4.33% to settle at 0.376 and Vallourec (PARIS:VLLP) which was down 3.26% to 20.48 at the close. Rising stocks outnumbered declining ones on the Paris Stock Exchange by 489 to 420 and 53 ended unchanged. Shares in Solocal Group (PARIS:LOCAL) fell to all time lows; down 4.33% or 0.017 to 0.376. The CAC 40 VIX, which measures the implied volatility of CAC 40 options, was down 0.57% to 23.10. Gold for August delivery was down 0.66% or 7.80 to $1178.80 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in July fell 1.51% or 0.93 to hit $60.50 a barrel, while the July Brent oil contract fell 1.32% or 0.86 to trade at $64.83 a barrel. EUR/USD was down 0.86% to 1.1227, while EUR/GBP fell 0.59% to 0.7249. The US Dollar Index was up 0.70% at 95.25.

05 июня 2015, 19:35

ance stocks lower at close of trade; CAC 40 down 1.33%

France stocks were lower after the close on Friday, as losses in the Real Estate, Pharmaceuticals&Biotech and Healthcare sectors led shares lower. At the close in Paris, the CAC 40 fell 1.33% to hit a new 1-month low, while the SBF 120 index declined 1.35%. The best performers of the session on the CAC 40 were Vivendi (PARIS:VIV), which rose 0.81% or 0.19 points to trade at 23.55 at the close. Meanwhile, Saint Gobain (PARIS:SGOB) added 0.34% or 0.14 points to end at 42.59 and Total SA (PARIS:TOTF) was up 0.12% or 0.06 points to 45.55 in late trade. The worst performers of the session were Unibail-Rodamco (AMS:UNBP), which fell 2.75% or 6.35 points to trade at 224.70 at the close. Safran (PARIS:SAF) declined 2.22% or 1.40 points to end at 61.72 and Sanofi (PARIS:SASY) was down 2.21% or 2.01 points to 89.14. The top performers on the SBF 120 were Montupet SA (PARIS:MNTP) which rose 1.45% to 69.450, Eramet (PARIS:ERMT) which was up 1.26% to settle at 74.73 and Rubis (PARIS:RUBF) which gained 0.88% to close at 63.00. The worst performers were Tarkett (PARIS:TKTT) which was down 3.21% to 22.59 in late trade, Havas (PARIS:HAVA) which lost 3.15% to settle at 7.370 and Genfit (PARIS:GNFT) which was down 3.09% to 36.900 at the close. Falling stocks outnumbered advancing ones on the Paris Stock Exchange by 665 to 226 and 56 ended unchanged. The CAC 40 VIX, which measures the implied volatility of CAC 40 options, was up 2.23% to 24.28 a new 3-months high. Gold for August delivery was down 0.62% or 7.30 to $1167.90 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in July fell 0.62% or 0.36 to hit $57.64 a barrel, while the July Brent oil contract fell 0.57% or 0.35 to trade at $61.67 a barrel. EUR/USD was down 1.19% to 1.1104, while EUR/GBP fell 0.53% to 0.7275. The US Dollar Index was up 1.04% at 96.49.

04 июня 2015, 19:35

Netherlands stocks lower at close of trade; AEX down 0.50%

Netherlands stocks were lower after the close on Thursday, as losses in the Oil&Gas, Basic Materials and Healthcare sectors led shares lower. At the close in Amsterdam, the AEX fell 0.50%. The best performers of the session on the AEX were KPN Kon (AMS:KPN), which rose 3.60% or 0.117 points to trade at 3.368 at the close. Meanwhile, Unibail-Rodamco (AMS:UNBP) added 2.60% or 5.85 points to end at 231.05 and TNT Express (AMS:TNTE) was up 0.22% or 0.017 points to 7.647 in late trade. The worst performers of the session were Arcelormittal (AMS:ISPA), which fell 2.96% or 0.30 points to trade at 10.00 at the close. OCI (AMS:OCI) declined 2.14% or 0.560 points to end at 25.620 and Royal Dutch Shell A (AMS:RDSa) was down 1.88% or 0.50 points to 26.04. Falling stocks outnumbered advancing ones on the Amsterdam Stock Exchange by 184 to 55 and 2 ended unchanged. The AEX Volatility, which measures the implied volatility of AEX options, was up 0.03% to 20.72. Crude oil for July delivery was down 2.67% or 1.59 to $58.05 a barrel. Elsewhere in commodities trading, Brent oil for delivery in July fell 2.74% or 1.75 to hit $62.05 a barrel, while the August Gold contract fell 0.84% or 9.90 to trade at $1175.00 a troy ounce. EUR/USD was up 0.13% to 1.1288, while EUR/GBP fell 0.05% to 0.7345. The US Dollar Index was down 0.11% at 95.25.

03 июня 2015, 19:35

ance stocks higher at close of trade; CAC 40 up 0.59%

France stocks were higher after the close on Wednesday, as gains in the Industrial Engineering, Pharmaceuticals&Biotech and Basic Materials sectors led shares higher. At the close in Paris, the CAC 40 added 0.59%, while the SBF 120 index gained 0.47%. The best performers of the session on the CAC 40 were Arcelormittal (AMS:ISPA), which rose 3.05% or 0.30 points to trade at 10.30 at the close. Meanwhile, BNP Paribas Act. A (PARIS:BNPP) added 2.23% or 1.24 points to end at 56.77 and Alstom (PARIS:ALSO) was up 2.19% or 0.61 points to 28.76 in late trade. The worst performers of the session were Unibail-Rodamco (AMS:UNBP), which fell 1.66% or 3.80 points to trade at 225.20 at the close. Safran (PARIS:SAF) declined 1.16% or 0.75 points to end at 63.65 and Peugeot SA (PARIS:PEUP) was down 1.13% or 0.21 points to 18.40. The top performers on the SBF 120 were Innate Pharma (PARIS:IPH) which rose 4.65% to 14.190, Arcelormittal (AMS:ISPA) which was up 3.05% to settle at 10.30 and Elior (PARIS:ELIOR) which gained 2.99% to close at 17.54. The worst performers were Technicolor (PARIS:TCH) which was down 2.26% to 5.851 in late trade, Mercialys (PARIS:MERY) which lost 2.18% to settle at 20.61 and Fonciere des Regions (PARIS:FDR) which was down 2.15% to 77.54 at the close. Rising stocks outnumbered declining ones on the Paris Stock Exchange by 459 to 441 and 57 ended unchanged. Shares in Elior (PARIS:ELIOR) rose to all time highs; gaining 2.99% or 0.51 to 17.54. The CAC 40 VIX, which measures the implied volatility of CAC 40 options, was down 1.49% to 23.07. Gold for August delivery was down 0.56% or 6.70 to $1187.70 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in July fell 1.96% or 1.20 to hit $60.06 a barrel, while the July Brent oil contract fell 2.08% or 1.36 to trade at $64.12 a barrel. EUR/USD was up 1.00% to 1.1264, while EUR/GBP rose 1.07% to 0.7345. The US Dollar Index was down 0.64% at 95.39.

02 июня 2015, 19:35

ance stocks lower at close of trade; CAC 40 down 0.41%

France stocks were lower after the close on Tuesday, as losses in the Beverage, Real Estate and Electronic Equipment sectors led shares lower. At the close in Paris, the CAC 40 fell 0.41%, while the SBF 120 index declined 0.37%. The best performers of the session on the CAC 40 were Arcelormittal (AMS:ISPA), which rose 3.80% or 0.37 points to trade at 10.00 at the close. Meanwhile, Credit Agricole (PARIS:CAGR) added 2.37% or 0.320 points to end at 13.830 and Technip (PARIS:TECF) was up 1.96% or 1.18 points to 61.32 in late trade. The worst performers of the session were Pernod Ricard (PARIS:PERP), which fell 4.85% or 5.55 points to trade at 108.85 at the close. Unibail-Rodamco (AMS:UNBP) declined 2.49% or 5.85 points to end at 229.00 and L’Oreal (PARIS:OREP) was down 2.28% or 3.95 points to 169.65. The top performers on the SBF 120 were CGG (PARIS:GEPH) which rose 5.17% to 6.41, Neopost (PARIS:NPOS) which was up 5.13% to settle at 45.60 and Eramet (PARIS:ERMT) which gained 3.94% to close at 74.42. The worst performers were Innate Pharma (PARIS:IPH) which was down 6.55% to 13.560 in late trade, Pernod Ricard (PARIS:PERP) which lost 4.85% to settle at 108.85 and Unibail-Rodamco (AMS:UNBP) which was down 2.49% to 229.00 at the close. Falling stocks outnumbered advancing ones on the Paris Stock Exchange by 470 to 439 and 60 ended unchanged. The CAC 40 VIX, which measures the implied volatility of CAC 40 options, was up 0.03% to 23.41. Gold for August delivery was up 0.40% or 4.80 to $1193.50 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in July rose 1.84% or 1.11 to hit $61.31 a barrel, while the July Brent oil contract rose 1.41% or 0.92 to trade at $65.80 a barrel. EUR/USD was up 2.22% to 1.1171, while EUR/GBP rose 1.14% to 0.7272. The US Dollar Index was down 1.76% at 95.81.

21 мая 2015, 19:35

Netherlands stocks higher at close of trade; AEX up 0.03%

Netherlands stocks were higher after the close on Thursday, as gains in the Construction&Materials, Oil&Gas and Healthcare sectors led shares higher. At the close in Amsterdam, the AEX gained 0.03%. The best performers of the session on the AEX were Delta Lloyd (AMS:DLL), which rose 1.44% or 0.25 points to trade at 17.55 at the close. Meanwhile, Royal Dutch Shell A (AMS:RDSa) added 1.26% or 0.35 points to end at 28.02 and Gemalto (AMS:GTO) was up 0.62% or 0.51 points to 82.52 in late trade. The worst performers of the session were Unibail-Rodamco (AMS:UNBP), which fell 0.93% or 2.25 points to trade at 240.80 at the close. OCI (AMS:OCI) declined 0.48% or 0.130 points to end at 27.000 and Altice SA (AMS:ATCE) was down 0.47% or 0.60 points to 128.40. Falling stocks outnumbered advancing ones on the Amsterdam Stock Exchange by 134 to 107 and 4 ended unchanged. The AEX Volatility, which measures the implied volatility of AEX options, was down 0.13% to 16.68 a new 1-month low. Crude oil for July delivery was up 3.09% or 1.82 to $60.80 a barrel. Elsewhere in commodities trading, Brent oil for delivery in July rose 2.56% or 1.67 to hit $66.69 a barrel, while the June Gold contract fell 0.36% or 4.30 to trade at $1204.40 a troy ounce. EUR/USD was up 0.28% to 1.1125, while EUR/GBP fell 0.57% to 0.7099. The US Dollar Index was down 0.30% at 95.36.

20 мая 2015, 19:35

ance stocks higher at close of trade; CAC 40 up 0.31%

France stocks were higher after the close on Wednesday, as gains in the Gas&Water, Utilities and Technology Hardware&Equipment sectors led shares higher. At the close in Paris, the CAC 40 rose 0.31%, while the SBF 120 index gained 0.26%. The best performers of the session on the CAC 40 were Vivendi (PARIS:VIV), which rose 2.02% or 0.46 points to trade at 22.97 at the close. Meanwhile, GDF Suez (PARIS:GSZ) added 2.00% or 0.36 points to end at 18.64 and Carrefour (PARIS:CARR) was up 1.76% or 0.55 points to 31.81 in late trade. The worst performers of the session were Unibail-Rodamco (AMS:UNBP), which fell 1.96% or 4.85 points to trade at 243.05 at the close. Alstom (PARIS:ALSO) declined 0.74% or 0.21 points to end at 28.35 and Bouygues (PARIS:BOUY) was down 0.73% or 0.28 points to 37.92. The top performers on the SBF 120 were Saft (PARIS:S1A) which rose 2.41% to 37.02, Technicolor (PARIS:TCH) which was up 2.06% to settle at 6.049 and Vivendi (PARIS:VIV) which gained 2.02% to close at 22.97. The worst performers were Genfit (PARIS:GNFT) which was down 4.01% to 38.420 in late trade, Innate Pharma (PARIS:IPH) which lost 3.13% to settle at 14.880 and Casino Guichard (PARIS:CASP) which was down 2.59% to 74.39 at the close. Rising stocks outnumbered declining ones on the Paris Stock Exchange by 476 to 420 and 63 ended unchanged. The CAC 40 VIX, which measures the implied volatility of CAC 40 options, was down 2.45% to 18.93 a new 1-month low. Gold for June delivery was up 0.22% or 2.70 to $1209.40 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in July rose 1.66% or 0.96 to hit $58.95 a barrel, while the July Brent oil contract rose 1.44% or 0.93 to trade at $64.94 a barrel. EUR/USD was down 0.52% to 1.1092, while EUR/GBP fell 0.70% to 0.7134. The US Dollar Index was up 0.33% at 95.68.

19 мая 2015, 19:35

ance stocks higher at close of trade; CAC 40 up 2.09%

France stocks were higher after the close on Tuesday, as gains in the Automobiles&Parts, Real Estate and Personal Goods sectors led shares higher. At the close in Paris, the CAC 40 gained 2.09%, while the SBF 120 index added 1.98%. The best performers of the session on the CAC 40 were Renault SA (PARIS:RENA), which rose 5.12% or 4.70 points to trade at 96.51 at the close. Meanwhile, Unibail-Rodamco (AMS:UNBP) added 3.77% or 9.00 points to end at 247.90 and AXA SA (PARIS:AXAF) was up 3.66% or 0.83 points to 23.66 in late trade. The worst performers of the session were Technip (PARIS:TECF), which fell 2.06% or 1.28 points to trade at 60.95 at the close. Arcelormittal (AMS:ISPA) declined 0.44% or 0.04 points to end at 10.08 and EDF (PARIS:EDF) was up 0.71% or 0.16 points to 22.68. The top performers on the SBF 120 were Genfit (PARIS:GNFT) which rose 8.33% to 40.000, Plastic Omnium (PARIS:PLOF) which was up 6.16% to settle at 26.64 and Renault SA (PARIS:RENA) which gained 5.12% to close at 96.51. The worst performers were CGG (PARIS:GEPH) which was down 4.31% to 6.46 in late trade, Soitec (PARIS:SOIT) which lost 3.75% to settle at 0.770 and Maurel Et Prom (PARIS:MAUP) which was down 3.24% to 7.47 at the close. Rising stocks outnumbered declining ones on the Paris Stock Exchange by 577 to 328 and 49 ended unchanged. Shares in Soitec (PARIS:SOIT) fell to all time lows; losing 3.75% or 0.030 to 0.770. The CAC 40 VIX, which measures the implied volatility of CAC 40 options, was down 2.54% to 19.41 a new 1-month low. Gold for June delivery was down 1.63% or 20.00 to $1207.60 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in July fell 3.04% or 1.83 to hit $58.41 a barrel, while the July Brent oil contract fell 2.86% or 1.90 to trade at $64.38 a barrel. EUR/USD was down 1.54% to 1.1140, while EUR/GBP fell 0.59% to 0.7186. The US Dollar Index was up 1.25% at 95.41.

Выбор редакции
16 октября 2014, 17:02

Unibail-Rodamco sheds €850m of malls

The sale is the latest step in company’s €2bn programme of asset disposals

Выбор редакции
04 февраля 2014, 22:39

UPDATE 1-Unibail-Rodamco revenue up 2.7, beats profit targets

PARIS, Feb 4 (Reuters) - Unibail Rodamco, Europe's biggest property group, said on Tuesday its 2013 rental income rose 2.7 percent to 1.35 billion euros as stronger revenues from well-positioned shopping malls helped exceed profit targets despite the region's weak economic recovery.

Выбор редакции
04 февраля 2014, 21:21

Unibail-Rodamco revenue up 2.7, beats profit targets

PARIS, Feb 4 (Reuters) - Unibail Rodamco, Europe's biggest property group, said on Tuesday its 2013 rental income rose 2.7 percent, as stronger revenues from well-positioned shopping malls helped meet profit targets despite the region's weak economic recovery.    

Выбор редакции
04 февраля 2014, 21:02

Unibail-Rodamco revenue up 2.7, beats profit targets

PARIS, Feb 4 (Reuters) - Unibail Rodamco, Europe's biggest property group, said on Tuesday its 2013 rental income rose 2.7 percent, as stronger revenues from well-positioned shopping malls helped meet profit targets despite the region's weak economic recovery.    

Выбор редакции
24 июля 2013, 21:07

UPDATE 1-Unibail-Rodamco keeps targets as malls defy slump

* No comment on long-term 2017 outlook target (Adds CEO comments)

Выбор редакции
30 января 2013, 21:55

UPDATE 1-Unibail names new CEO, bets on 2013 growth

* Strategic focus on big malls to deliver more growth (Adds detail, background)

Выбор редакции
26 октября 2012, 21:02

UPDATE 1-Unibail-Rodamco Q3 growth shrugs off slowdown

PARIS, Oct 26 (Reuters) - Unibail-Rodamco, Europe's biggest real-estate investment trust (REIT), reported a 7.5 percent rise in third-quarter rental growth as its portfolio of European shopping malls shrugged off the economic slowdown.

24 октября 2012, 20:02

24 Oct 2012 – “ Planet Earth ” (Duran Duran, 1981)

24 Oct 2012 – “  Planet Earth  ” (Duran Duran, 1981) Music Link Yeah, Lights Out in US equities, although the NASDAQ managed to outperform the INDU by 1% and keeping losses below 1%. Still, INDU down 1.8% and S&P -1.4%, both now nearing 100d averages at 13061 (41 points or just 0.3% away) and 1393 (still 20 points or 1.4% away) with 50d averages now in need for upswings of 252 points (1.9%) and 21 points (+1.5%). Oh, and yes, there will be a midi iPad under the Xmas tree (-3.3%), but it won’t be a give-away. Asian Risk session rather solid, given the negative US backdrop with losses mainly contained between 0.8% and 0.3%, supported by Private PMI reading in China ticking up to a 3m high of 49 (after 47.9 in Sep). Not exactly roaring, but a straw is a straw. Had some overnight reports about Greece being given 2 more years to reach targets, later denied. Nothing out of Spain, although yesterday’s pulled Madrid issue (initially pitched around 8%), actually an increase, doesn’t bode well for the Regional Funds liquidity, as it might dry out rather sooner than later. European initial quotes all on the surprisingly bullish side (up to +0.70 in equities in pre-cash futures), following the Chinese PMI release, but coming down in 2 stages after French and German PMI figures were published. While initially, Bunds gapped lower and Periphery bonds were marked tighter, 45 minutes into the cash session, things were brought back to mainly unchanged with Bunds put at 1.58% (and UST still +2 to 1.78%), equities roughly flat to a tick below COB and the Periphery on the heavier side, wider by 2 in Italy (4.88%) and up to 5 in Spain (5.65%). Commodities faring little better on Chinese hopes. EUR unchanged 1.296. French PMI a miss in Mfg at 43.5 (fcst 44 after 42.7) (and the Peugeot bail-out won’t help things), but with (more important in France) Services ticking up to 45.2 (fcst 45.4 after 45). Still well below 50 readings and hovering on a low stand. Q4 GDP outlook looks bad and the government will need to think about where and how to puncture more taxes to hit objectives. German PMI disappointing, too, with no rebound (as somehow priced in) with MfG squarely dipping to 4.7 (fcst 48 after 47.4) and Services sliding to 49.3 (fcst was 50 after 49.7). Mood further dampened by German IFO institute readings of Biz Climate at 100 (fcst 101.6 after 101.4), Current Assessment sliding to 107.3 (fcst 110 after 110.3) and Expectations component flat at 93.2 (fcst 93.6 after 93.2). No rebound. None. Q4 will be a b*tch. EZ PMI in the same vein with MfG sliding further to 45.3 (fcst uptick to 46.5 after 46.1) and Services just a touch better at 46.2 (fcst 46.4 after 46.1). This is the German Coast Guard: What are you sinking? Updated Eurostat Q2 debt figures show an overall increase to 90% of GDP (from 88.2% in Q1) with  France hurdling the 90%-barrier at 91 (after 89.1), Germany up to 82.8 (from 81.1),  Italy at 126.1 (after 123.7)  and Spain surging (in terms of progression) to 76 (from 72.9). In the bail-out club Ireland is now at 111.5 (from 108.5), Greece at 150.3 (from 136.9) and Portugal at 117.5 (from 112) with Cyprus the second-steepest progression on the EZ (after Greece) with debt now at 83.3 (from 75). Top 5 debt increases compared to close 2011 (Monday’s figures) in percentage terms (omitting Luxembourg and Estonia) Slovakia +EUR 5.4bn (+18%), Cyprus +EUR 2.2bn (+16.9%), Spain +EUR 68.1bn (+9.3%), Portugal +EUR 13.4bn (7.3%) and Finland +EUR 6.8bn (+7.3%). Winner in absolute terms, next to Spain in relative, is France, which added EUR 115.6bn to its debt load (+6.7%). Given the a.m. PMI figures and latest French data, which point to a weak Q4, this ought to keep the French government to think about spending too much of its own money on being nice to others…. At least, it ought to… Today’s sole auction courtesy of the Finanzagentur with a EUR 4bn reopening of the 10 YRS “Bad Karma” Bund at 1.56% (from 1.575% at close and about 1.58% at open). Ok, finally the curse has been lifted and over EUR 5bn in bids supported the sales. 1 tick tail. BuBa market intervention retention of about 670m. Seen like this, a success… As a reminder, the last auction was at 1.52% on 26 Sep, but a fail with then solely EUR 3.9bn of bids for EUR 5bn, and the BuBa loading up on EUR 1.8bn, and an inaugural launch early Sep, which failed as well at 1.42%, but again with EUR 3.9bn bids for earmarked EUR 5bn in sales). Still, there’s just so much pain one can take before endorphins kick in and dull the spirit. By mid-morning, Risk adverseness had bottomed-out with equities even attempting a renewed rebound above closing levels. Lunchtime attack on the opening highs. No specific trigger. Mid-day picture actually fairly relaxed (ahead of further earning releases), but with EGBs still on the tighter side, unchanged from levels that saw equities over 1% softer mid –morning. Equity rebound at +0.6% versus close and +1.3% from morning lows. Amazing. Credit unchanged. Periphery off widest levels (5.66% in Spanish 10s), but not massively so. Spanish 2s still over 3%-mark, though. Bunds 1,56% (-2), OBLs 0,59% (-1), BKOs 0,091% (-1,3). UST 1,77% (+1) Spanish 2s 3,00% (+1) and 10s at 5,61% (+1). Spanish 2-10s 261bp (unch). Italian 2s at 2,24% (+4), 10s at 4,87% (+1). Italian 2-10s 263bp (-3). EUR still soft. Commodities upticking, but just so. Earnings before market open mainly on the slightly negative side, but for Dow Chemical and AT&T, as well as Lockheed and Boeing, flying high these days. No early figures. Draghi in Bundestag charm attempt, but with nothing really crisp, at least upfront. Andalusia spokesman on the ticker why Spanish regions need aid in general – and more aid in this particular case… As a.m. with regards to Madrid, Spanish regions have barely a market access anymore. And Andalusia had asked for up to EUR 4.9bn – not for the EUR 2.1bn the sovereign intends to send over. US PMI at 51.3 (fcst 51.5 after 51.1). Same broken dreams of a sustained rebound, as with the European data, but at least not a miss. Good for 0.20% in European equities to a new HOD and pushing Bunds back to unchanged, especially as we had Greek declarations about all being good for an extension, later denied among others by Draghi. US cash open positive, but not really moving anywhere from the initial 0.30% (and slightly over the top and rapidly corrected 0.75% for the NASDAQ). Risk loosing steam on Greek solution denials and Return to Earth. New Home Sales positive at first sight at +389k (fcst 385k after, 373k, but revised 368k). Looks good at 5.7% MoM, after revised -.3%, but nsa numbers are simply skimpy in absolute terms. Back to Earth. Merkel trying to re-heat a softer domestic tax approach in order to entice German consumer spending. Closing with European Risk nervously following US leads, trying to outlast, despite some US sliding around European close. European Risk closing in recovery mode. Equities up 0.6%. Credit flattish, a tick better. Bunds holding ok after a positive auction, as all other EGBs actually. Good Periphery afternoon session with Spanish 2s back below the 3%-mark. 10s holding ok and closing tighter (and 10bp off their widest level). Bunds closed at 1,57% (-1), OBLs at 0,58% (-2) and BKOs 0,083% (-2,1) with UST at 1,79% (3) Spanish 2s at 2,96% (-3), 10s at 5,55% (-5). Spanish 2-10s 259bp (-2). Italian 2s at 2,21% (+1), 10s at 4,83% (-3). Italian 2-10s 262bp (-4) Commodities sideways mixed. Not much of an event. EUR eventually unchanged after testing the 29-30 range on both sides without follow-though. Take-away: I might have missed something today behind my screens. The weakness after the US close and soft sentiment figures I understood. The mid-morning change in mind and subsequent rebound (except that we were lower than yesterday) seems a bit puzzling here. PMIs rather bad, the rest not good enough… Not much in terms of macro supply in Europe tomorrow. No auction either. Need to watch US close (AAPL stable at European COB) and FED statements, although I doubt we’ll get anything but neutral comments as QE3 was solely unleashed last month and so short ahead of the elections. New Issue traffic restricted to EUR 500m Deutsche Telekom 7 YRS at MS +65, EUR 500m Unibail-Rodamco Jun 2017 at MS+80, as well as yet another German Land FRN with EUR 500m Apr 2018 at 3mE+ 10 for Berlin. Nothing else. Don’t hesitate to exchange with the author. All comments, suggestions, rants are welcome. Closing levels: 10 YRS Yields: Germany 1,57% (-1); Luxembourg 1,65% (-2); Netherlands 1,80% (unch); Finland 1,80% (-1); Swaps 1,83% (-1); EU 1,91% (-1), Austria 2,02% (-1); EIB 2,11% (-1); France 2,24% (+1); EFSF 2,20% (-3); Belgium 2,47% (+2); Italy 4,83% (-3); Spain 5,55% (-5). 10 YRS Spreads: Luxembourg 8bp (-1); Netherlands 23bp (+1); Finland 23bp (unch); Swaps 26bp (unch); EU 34bp (unch); Austria 45bp (unch); EIB 54bp (unch); France 67bp (+2); EFSF 63bp (-2); Belgium 90bp (+3); Italy 326bp (-2); Spain 398bp (-4). EUR swap curve 2-5 YRS 51bp (unch); 5-10 YRS 83bp (+1,0) 10-30 YRS 58bp (+1,0). 2 YRS German BKOs closed 0,083% (-2,1) and 5 YRS OBLs 0,58% (-2). Main at 127 from 128 (0,8% tighter); Financials at 170 after 171 (0,6% tighter). Cross at 522 from 516. Stoxx Futures at 2485 / +0,4% (from 2475) with S&P minis at 1409 (+0,1% from 1407, at European close). VIX index at 18,4 after 18,4 yesterday same time. Oil 85,6/107,8 (WTI/Brent) from 86,2/107,7 (-0,7%/+0,0%). Gold at 1702 after 1709 (-0,4%). Copper at 356 from 356 (unch). CRB at EU COB 300,0 from 304,0 (-1,3%).  BDY taking a breather to 1088 from 1109 (-1.9%), after yesterday’s biggest gain in over 2 years. EUR 1,296 from 1,296 Greek guesstimate: Greek bonds un-amused by Risk Off for most of the day and widening up 50bp in the morning, but eventually closing stable despite announcements and denials. 2023s 16.75% (unch) and 2042s to 14.75% (unch). All levels COB 17:30 CET Upcoming Macro Data: US Q3 figures on Friday. Trading will remain rather technical, subject to Periphery rumours and jitters. Auction supply low and mostly unexciting. US closing supply with USD 29bn 7 YRS tomorrow. EZ: M3 fcst 3.1% after 3.2% Tue Biz Climate Indicators GE: Fri Import Prices fcst 2.9% after 3.2% Mon CPI last 2% Tue Unemployment last 6.8% & Retail Sales last +0.1% MoM FR: Fri Cons Conf fcst 84 after 85 Wed PPI last +2.5% YoY & Cons Spending last -0.8% MoM Italy: Thu Retail Sales fcst -0.2% unch, Fri Biz Confidence 88.7 after 88.3, Wed Unemployment & CPI + PPI Spain: Thu PPI fcst +4.4% after 4.1% YoY; Fri Unemployment fcst 25% after 24.6% Mon retail Sales Tue GDP & CPI US: Wed Sep New Home Sales fcst 385k after 373k & FED. Thu Durable Goods fcst +7.5% after -13.2%, Claims & Pending Home Sales. Fri GDP & UoM Conf. Click link under title or below for today’s musical support:Same song - nowadays... Music Link http://www.aviewfrommyscreens.com      

31 августа 2012, 13:26

Французский бизнес ополчился на Олланда

Французские корпоративные лидеры критикуют политику президента Франсуа Олланда, утверждая, что она бьет по компаниям, которые и так пострадали вследствие замедления экономики и десятилетий недружественной к бизнесу политики. "Каждую неделю законы, принимаемые в парламенте, влекут замедление государственной и частной активности, - цитирует Bloomberg слова Гийома Пуатрэналя, главного исполнительного директора компании Unibail-Rodamco SE (UL), крупнейшего европейского риэлтора. - Регулирование во Франции безумно. В ускоряющемся мире нам нужно больше гибкости для компаний, больше гибкости в труде, и нам нужны быстрые действия государства".Предприниматели и руководители говорят, что бизнес находится под давлением высокого корпоративного налога и ужесточения политики, которое вызвано тем, что правительство Олланда изо всех сил старается сдержать обещание по сокращению дефицита бюджета. Такие мнения звучали вчера на бизнес-конференции, организованной кадровым агентством Medef в пригороде Парижа.Правительство пускается на ужесточения, впадая в панику при отсутствии роста экономики третий квартал подряд, высоком уровне безработицы, находящемся на максимуме 13 лет, и рекордном дефиците внешней торговли. "Мы страдаем от этого фона, который становится все более и более ограничивающим, - сказал генеральный директор Air Liquide SA (AI) Бенуа Потье. - Мы нуждаемся в стабилизации нормативно-правовой базы, мы нуждаемся в инвестициях в образование и подготовку кадров, в широком смысле мы нуждаемся в улучшении бизнес-климата".Олланду, который одержал победу в президентской кампании на обещаниях социальной справедливости и борьбы с долговым кризисом в Европе, теперь приходится столкнуться с недовольством бизнеса. По мнению предпринимателей, трудовое законодательство является слишком строгими, затраты на заработную плату и социальные отчисления слишком высокими, а корпоративные налоги - заоблачными.Чемпион по налогам"Французские компании облагаются самыми высокими налогами в Европе, мы чемпионы корпоративных налогов", - констатировал глава Medef Лоранс Паризо в интервью Bloomberg Television. "Это большая проблема для нас. Кроме того, социальные законы являются настолько сложными, что наши компании не в состоянии адаптироваться к изменениям в мире", - сказал он.Олланд предложил повышение налогов для крупных компаний до 35% и сокращение для малого и среднего бизнеса, а также налог в 75% на доходы свыше 1 млн евро в год и специальный налог на банки и нефтяные компании. Французский парламент ввел в этом месяце налог на финансовые операции.Президент также пообещал отменить 29 млрд евро налоговых льгот в течение ближайших пяти лет. Он хочет увеличить общий уровень налогов (отчисления на заработную плату и налог с прибыли) до 46,9% к 2017 г. с 45,1% в 2012 г.На конференции в прошлом месяце в Экс-ан-Прованс Луи Галуа, бывший главный исполнительный директор Европейского аэрокосмического оборонного комплекса (EAD), являющийся известным поборником конкурентоспособности, выступил за снижение корпоративных налогов и сборов.