Bounce(Recovery) of stock exchanges in Europe with Wall Street and Tokyo

24.01.2008 ¦ 10:40

PARIS - The European stock exchanges are in increase sensitive(perceptible) Thursday morning, aligning itself with Wall Street and with Tokyo, in the hope of a rescue of the rehausseurs of credit in the United States.

The investors however have to absorb one of the important day facts: the massive fraud the general company of which was a victim.

The Dow Jones gained(won) 2,5 % on Wednesday, reacting to the announcement of a meeting between the authorities of regulation of New York, the rehausseurs of credit and their clientele.

Stimulated by Wall Street, Tokyo posted(showed) she(it) a 2,06 % earnings(gain) in fence(close), the values in the export in particular getting back of the ground thanks to purchases cheap.

On the other hand, the indication Hang Seng of the stock exchange of Hong-Kong posts(shows) a 2,29 % loss in fence(close), in the term of an uneven session, affected exactly by the affair(business) of the general Company(Society).

The indication FTSEurofirst 300 gains(wins) about 4 % in the morning, the FTSE more than 3 %, the Dax 4,7 % and CAC-40 4,5 %.

An indication Ifo of the climate of the business(affairs) in Germany superior to the waits(expectations) is not possible in itself that to confirm the bullish orientation of stock markets.

This indication stood out(went out again) in 103,4 in January against 103,0 in December and 102,2 waited.

It is the element marking in the daytime, explains Edmung Shing, strategist of BNP Paribas, making reference to this meeting.

" It would be logical that the American and European banks coordinate with the regulators of the United States to bail out(to refloat) these insurers because if they collapse, it will be more catastrophic for the balance sheets(assessments) of banks and we left for a new wave of depreciations ".

The general Company(Society) announced on Thursday the discovery of a deceitful position in its activities of trading for appropriate(clean) account the débouclage of which will have a 4,9 billion euro impact on its accounts.

She adds that her net profit 2007, leaves the group, will be understood(included) between 600 and 800 million euro (against 5,22 billions in 2006), after consideration of new 2,05 billion euro depreciations bound(connected) to the crisis of the market of the credit. The bank will throw(launch) finally a 5,5 billion euro increase in capital.

The opening of the transactions(deals) on the bank was postponed. The agency of notation Fitch returned its note of AA to AA-on the bank but Goldman Sachs removed her(it) of its " conviction sell list " while staying in the sale.

The Bank of France let know that an inquiry would be opened by the banking Committee(Commission) and the Minister of Finance Christine Lagarde will express himself during the day.

BANKING AND HIGH TECHS IS ON THE ROLL

The banking are not affected by the setbacks of SocGen. BNP Paribas gains(wins) 6,8 %. The bank asserts that the order of the accounts 2007 reveals nothing which would justify(prove) " a particular warning to the market ".

Royal Bank of Scotland gains(wins) about 6 %.

The technological have too the wind in stern. Nokia, who has to publish his(her) accounts around 11:00 am GMT, progresses of 8,35 %. Siemens advance of 5,2 %, having raised(found) his(her,its) annual forecasts following his(her,its) robust results(profits) of the first quarter.

German Software AG jumps up with 8,4 % because he too raised(found) his annual objectives after the robust fourth quarter.

This ascent(rise) of stock markets also benefits the oil(petroleum), which posts(shows) earnings(gains) of more than 1 % not far from 88 dollars the barrel for the American crude oil(gross salary).

On the other hand, she(it) does not make the affair(business) of the bond market European where the prices(lessons) fall. The contract of March on Bund loses 0,52 % in 116,46, while it had registered a peak of 118,08 in the week, when stock exchanges were cut in details(rooms).