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BNP Paribas, whose 2011 accounts were affected by the provisions on Greece and the financial crisis, nevertheless reassured the markets on Wednesday the outlook for 2012 Aftern s have reported a good start to the year in investment banking.

Its CEO, Jean-Laurent Bonnafe, also said he expects this year to stabilize the crisis in the euro area and an economic slowdown in Europe, e cartant and the recession scenario chosen by some economists.

"We think there will be some sort of stabilizing the situation in the euro area," said Chief Executive of BNP Paribas in an interview with Reuters Insider. "There will be some kind of slowdown (economic, Ed) in Europe this year, but no recession."

Asked about the prospects for business in 2012, he reported a "strong" start to the year in investment banking.

Around 24:50, the BNP Paribas signs the largest increase in the CAC 40 up 6.62% to 35.73 euros, outperforming the European sector index (+2.5%). The action resumed nearly 18% since the beginning of the year, bringing the Group's market capitalization to 43 billion euros, after falling 36% in 2011 .

"The performance (of the CIB, ed) is clearly better than the average BFI European and American," said Alex Koagne, an analyst at Natixis Securities.

"In addition, the group was generally optimistic, indicating that the beginning of the year had been good in this business," he says.

"AHEAD" ON RECAPITALIZATION

Despite being down by 50% to 765 million euros in the fourth quarter, net income is superior to the expectations of analysts surveyed by the editor Reuters. 

The latter on average expected higher losses in the banking business and investment banking (CIB), the image of what came out of the results of Deutsche Bank.

"Despite a year marked by many non-recurring items (…), the bank shows a fair return while its solvency and liquidity position continue to strengthen, "said Pierre Chedeville, an analyst at CM-CIC Securities in a note.

BNP Paribas, which has decided to maintain a dividend, unlike SocGen and Credit Agricole, also estimated to have reached six months ahead with the objectives set for recapitalization by European regulators, with a capital ratio of 9.6% at end 2011. 

"They do not need to accelerate the process of 'deleveraging' (reducing balance, Ed)," Yohan holds Salleron, manager at Mandarine Gestion.

The French bank, who spent an additional charge of 639 million euros in its accounts for the last quarter of 2011 on government debt, reports that it has now reached 75% of its funding on the Gre ; this against 60% previously.

NEW DEVELOPMENT PLAN IN 2013

Its chief executive said to be confident that the group will not have to place new provisions on Greece, which is negotiating a new bailout with the International Monetary Fund The European Union, the European Central Bank and its private creditors. 

In BFI, where the bank has suffered for 510 million euros in losses on disposals of sovereign debt in Q4, the group table in 2012 on new charges outstanding € 850 million related to divestitures of assets and restructuring of its operations.

"The early years (2012, Ed) has been quite strong in investment banking", indicated Jean-Laurent Bonnafé.

Hired as many European banks in a plan to reduce stock and asset sales, the general manager of the BNP, however states that he "no plans" regarding a sale of its subsidiary American BancWest. He also rejects any sale of its land Klépierre which the bank holds 51% stake.

In terms of its refinancing needs, focus point on which investors concerned about the financial health of European banks, BNP announced that its issuance program in the medium and long-term amounts to 20 billion euros for 2012, five billion has been raised.

The new leadership of the bank, led since December by John Lawrence Bonnafé, present in 2013 a new development plan.

Relieved by the adoption of the new austerity plan by the Greek parliament in Athens, financial markets have not provided plunged into euphoria, the stock markets Europé ; Ennes reducing their gains in late afternoon while the euro erased some of its progression.

In Paris the CAC 40 index displays a close up 0.34% to 3384.55 points, after peaking at 3413.43 in early trading and a passage in the red in the middle of the afternoon. Elsewhere in Europe, Frankfurt gained 0.68% and 0.91%, while London Athens ended with a gain of 4.65%. The pan-European FTSEurofirst 300 index ended with a gain of 0.71% to 1,071.63 points after rising in early morning to over 1,074.

The European partners of Greece have called to make new pledges its commitment to reform: before the Eurogroup meeting scheduled for Wednesday, the Government Lucas Papademos has yet to find 325 million euros in savings and get a written commitment of political parties to enforce the terms of the agreement.

"See riots and austerity measures to a 'newspaper, it's not good for confidence in the economy. This discourages people from spending in the real economy and it erodes consumer confidence, "said Joe Rundle, head of trading for ETX Capital

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Stoxx financials finished up 0.53%. But several French banks have finished in the red after the decision of French and Belgian market authorities to lift the ban on short selling on banks and companies insurance in force since August: BNP Paribas has sold 2.07% 3.64% Credit Agricole and Societe Generale 2.19%.

Other values ​​for this session generally calm, Cable & Wireless Worldwide jumped 44.51% after Vodafone's statements on his interest in a possible takeover.

Sign that investors are still far from fully reassured that the Greek case, the futures contracts on German government bonds, safe haven par excellence in Europe, are starting to rebound in the afternoon. 

Previously, the vote was nevertheless benefited the Greek borrowing of the States "peripheral" euro zone, such as Italy or Spain. The Italian Treasury shall conduct an auction Tuesday for at least six billion euros of bonds, on Monday after raising 12 billion of short-term paper with yields down.

After approaching the threshold of 1.33 dollar, the euro has given up its gains in the afternoon, passing into the red in fed low volumes, traders noting that Greek parliament's vote is far from appeasing all voltages.

"We believe that Greece will eventually receive the money by March 20 but we still think that the euro will fall," says David Watt, currency strategist at RBC Capital Markets. 

The price of oil continue to rise to the highest in six months hit last week, benefiting from renewed risk appetite encouraged by the vote of the Greek Parliament.

But the persistence of many uncertainties about the debt crisis has, again, limited the increase, especially since the beginning of a thaw in Europe after the cold spell of two weeks elapsed 're promotes profit-taking on Brent.

This bonus is 150 euros for a single person and 320 euros for a couple.

The Christmas bonus paid to recipients of certain social minima, as RSA, will be repeated in December 2011, announced Monday the Minister of Solidarity and Social Cohesion Roselyne Bachelot. "I can confirm that the Christmas bonus will be paid. This represents 380 million euros for the most vulnerable," said the Minister during the launch of the 27th winter campaign of Eating Heart in Paris. "For a single person, that's about 150 euros paid in the coming days and for a family with two children, 320 euros," said Ms Bachelot.

In 2010, the Christmas bonus had been paid to the beneficiaries including the RSA (active solidarity income) and those of the SSA (specific solidarity allowance, paid to certain unemployed at the end of law). She was concerned 1.7 million beneficiaries.The Christmas bonus was awarded for the first time in 1998 by the Jospin government under pressure from movements of the unemployed who have been demanding for years that it is substantially increased and the scope of its beneficiaries is expanded.

European shares were down in early trade Friday, the pressure on interest rates fueling fears that some fragile countries in the euro zone no longer be able to refinance at an affordable cost.

At 9:03, Paris passed under the 3000 points and lost 0.83% to 2985.19 points.

At the same moent, London lost 0.95%, Frankfurt and Milan 0.83% 0.73%. The Euro Stoxx 50 index of the principal values ​​of the euro gave up 0.69%.

The Spanish 10-year rate rose above 7% (7.11%) and Italy's is 6.94% while the German Bund yield the same maturity is around 1.87% and that of the French OAT around 3.6%.

France announced Thursday it had called for an investigation to the European financial markets and the AMF after transmission error by Standard & Poor's a message on its sovereign rating.

The Minister of Finance, Baroin said he asked regulators to investigate the causes and possible consequences of the mistake, which he described as "quite shocking rumor of information that do not match any foundation".

"We will not leave any negative message through. It was a strategy, we have an appointment in terms of deficits that is fixed.It will not change one iota, "he said in Lyon on the sidelines of a conference of the economy.

Standard & Poor's has sent a message to some clients who might suggest that the rating of France had been changed.

The rating agency said in a statement that following a technical error, a message was automatically sent to some subscribers suggesting that the credit rating of France had been changed.

"This is not the case notes of the French Republic are AAA/A-1 + with a stable outlook, and this incident is not related to any monitoring activity notes," she said. "We are investigating to determine the cause of this error."

Euro Disney said Wednesday it has widened its annual net loss due to deterioration in the profitability of its property development activities and increased its costs.

The operator of Disneyland Paris has recorded for the year 2011, ended September 30, a consolidated net loss of 63.9 million euros, against 45.2 million last year.

Its annual turnover to 1.297 billion, increased by 1.8%, tourism growing by 4.9% to 1.275 billion while the real estate development saw its sales drop 62.4% to 22.5 million, reflecting a major assignment.

Parks attendance reached 15.6 million visitors, 600.

Alstom said on Friday plan to establish up to two production sites offshore wind in France if the consortium to which it belongs is held in satisfactory conditions at the end of the call for tenders launched in July by the government.

These two production of components and assembly of offshore wind turbines six megawatts – one in Saint-Nazaire (Loire-Atlantique) and one in Cherbourg (Manche) – could generate up to 1,000 direct jobs and 4,000 indirect jobs, the group argues in a statement.

The specialist in energy infrastructure and transport is part of a consortium of six companies led by EDF Energies Nouvelles, which also includes Dong Energy Nass & Wind Offshore, Offshore wpd Poweo and ENR.

Alstom is prepared to invest up to 100 million euros in these two sites "if the consortium is selected at a level that ensures a critical industrial scale."

The project, covering a total capacity of 3,000 megawatts (MW) in five areas, corresponding to half the target set by the government to install 6,000 MW offshore by 2020, equivalent to almost four times the power of a nuclear reactor EPR.

GDF Suez, together with Vinci and Areva, are part of a rival consortium.

Candidates have until January 11, 2012 to submit their bids. They will be screened in April 2012 and retained permanently in 2013.

The Director General of the World Trade Organization, Pascal Lamy, on Wednesday approved the holding of a referendum in Greece on the rescue plan passed by the Europeans. All the latest news. Greek Prime Minister George Papandreou announced the holding of a referendum in January in Greece, to check the public support for austerity plans adopted by the country.

9:56: "The Greek referendum can be won" according to Pascal Lamy.Interrogé France Inter on Wednesday morning, the Director General of the World Trade Organization has justified the holding of a referendum in Greece. On the one hand, it "is normal that the people decide." On the other hand, argues that it is not in "the interest of creditors dealer with a government" which may be weakened and not reversed its commitments. "Finally, he believes that" from what my friends tell me Greek, the referendum can be won.The Greeks are probably able to appreciate that this or something even worse. "He admits, however, that the collapse of the euro area is" not totally ruled out a possibility today. "

9:34: "China sincerely hopes the stability of the euro area and the euro," said Hu in an interview with Le Figaro on the eve of the opening in Cannes for a G20 summit, to be dominated by the issue of European sovereign debt. The Chinese president is silent, however, on specific measures that China could hang in helping Europe to solve this crisis, in particular its proposed participation in a relief fund for highly indebted countries.

Europe is moving towards an agreement on the sovereign debt crisis but "banks must now accept the necessary sacrifices," said Jean-Pierre Jouyet, the president of the Financial Markets Authority, in an interview published Tuesday by The Tribune.

"A lot of the success of the second meeting of the Eurozone is in their hands," he adds.

Finance ministers from the euro area opened Friday six days of intense negotiations, punctuated by an EU summit Sunday to a high of the euro area, where the outcome expected Wednesday is considered crucial for the future of the single currency.

For reassurance on the risks of contagion, "the markets want a political Europe even stronger. A battle will hopefully gained Wednesday, but not the war.It will be played on fiscal consolidation and real political integration, "the president of the AMF.

He said Germany is now "the business model and budget the most efficient in Europe."

Jean-Pierre Jouyet also known as the European Commissioner for Internal Market Michel Barnier to go further in reforming financial markets.

"Today there is an excess of power of financial markets on policy choices. It is time to regain control in the regulation of markets," said he.

French deputies have reduced by nearly 1, 5 billion to 80.321 billion, the deficit in the draft budget law for 2012 at the conclusion of the review, Monday, the first part, the revenue .

The deficit in the original was 81.772 billion euros.

MEPs will vote on Tuesday by a solemn vote of the whole of this first part of the finance bill that the Senate will consider in turn from 17 November.

The level of the deficit is likely to change again with the review by members of the review of the second part of the budget, the expenditure, then the entire text by Senators.