Speaking after its annual review of the Italian economy, the head of the IMF European Department, Reza Moghadam, has shown strong support for the president of Italy Mario Monti. This has put pressure on European leaders to ensure that measures to promote growth in addition to the austerity plans response to the crisis.

"The policies implemented by the government have created a stability that is truly remarkable compared to the situation we had at the end of last year," said Reza Moghadam during a press conference.

The IMF confirmed its estimate of 1.9% decline in gross domestic product (GDP) Italian for 2012, after falling 0.8% in the first quarter.

The fund does not think that Rome should take further fiscal adjustment measures beyond what the country has already planned, although the government has raised its forecast for de government deficit from 2013 to 0.5% of GDP, against 0.1% previously. 

"Fiscal policy for this year and next year is a policy that the IMF fully supports," he said.

"Our recommendation is to proceed with plans to recapitalize banks, precisely to ensure that banks have sufficient capital to support credit activity in Italy," he added.

Sales of cement, concrete and asphalt decreased by double digit percentages in Europe and the net profit after minority interests stood at 10 million Swiss francs (8.32 million euros), far from the 41.2 million expected by analysts polled by Reuters.

Revenues increased 2.2% to 4.76 billion Swiss francs, compared with 4.718 billion consensus giving.

"The harsh winter has resulted in numerous decisions of sites in Western and Eastern Europe in February," said the second world cement in a statement. 

Cement producers, firms in a particularly energy intensive, face higher costs of fuel and electricity.

Holcim said it could offset the rising costs by raising prices, but Africa and the Middle East. As Lafarge, he observed that the costs of energy and transport seemed to stabilize.

European competitors Holcim, Lafarge and whose German HeidelbergCement, have warned that they would fall under their prices to offset rising energy costs. Holcim said it reverberate cost increases caused by inflation.

The Swiss group, which generates more than half of its turnover in emerging markets, expects increased demand for building materials in Asia, Latin America, Russia and Azerbaijan this year. It also provides an increase in demand in North America.

After almost a year of discussions, the CEO of Exxon Rex Tillerson has signed this agreement with his counterpart from Rosneft, Edward Khoudainatov, at the residence of Russian Prime Minister Vladimir Putin in Novo- Ogariovo, not far from Moscow.

This strategic cooperation agreement was announced by Reuters in mid-day, before it is signed.

It will give Rosneft, majority owned by the Russian state, a 30% interest in three projects for Exxon in North America, described the two groups in a joint statement. 

Exxon and Rosneft will also study the feasibility of the exploitation of deposits of Rosneft in western Siberia.

According to a first agreement in August, Exxon and Rosneft must spend $ 3.2 billion (2.45 billion euros) to the exploitation of oil deposits in the Russian Arctic and Black Sea. Seismic studies starting this year, indicated that the two groups.

Asked if the Commission felt that Madrid was always able to avoid stressing the currency bloc to preserve its banking sector, Olivier Bailly simply replied "yes".

He also said the Commission would be able to have an overview of the efforts of Spain to consolidate its finances once the Spanish Government has delivered a comprehensive overview of its plans, including regional governments. 

Lack of information, particularly on the provisions which reach implement local Spanish, "the Commission is not able to make any recommendation at Madrid" he added.

Stanislas de Quercize, joined Richemont in 1989, is currently the head of Van Cleef & Arpels after having officiated for Alfred Dunhill and Montblanc brands. He will take office at the end of the year.

"From Quercize gave up Van Cleef & Arpels since his appointment, making the brand profitable and grow making credibility with buyers of fine jewelry," said Jon Cox, analyst at Kepler Capital Markets.

Cartier, in his view, represents half the sales of Richemont and two-thirds of operating profit.

Stanislas de Quercize cede his position at Van Cleef & Arpels to Nicolas Bos, current creative director and CEO of the brand in North America.

In exchange, the action Richemont, the world of luxury behind the French LVMH, was unchanged at 9.50, to 55.75 francs, while its European sector index took 0.3%.

In Paris, in mid-session, the CAC 40 was down 0.8% at 3443.28 points. The Dax 30 yields 0.58% and the FTSE 0.47%. The index futures point to a New York opening on Wall Street rather indecisive.

PSA Peugeot-Citroen gained 0.9%. The French manufacturer announced it was studying with General Motors on the feasibility of development of common platforms for large segments of small sedans and minivans.

BT wins more than 5%. The British telecoms operator plans to pay two billion pounds into its pension fund as part of a new nine-year plan more advantageous for shareholders.

The French government raised its economic growth forecast for 2012 to 0.7%, against 0.5% previously, and was lowered to 1.75% for 2013, against 2.0%, said Minister of Economy Baroin. This announcement follows the revision by the National Institute of Statistics and Economic Studies (INSEE), its growth forecast to 0% in the first quarter and 0.2% in the second quarter of 2012.

Moreover, the overall business climate in France has improved significantly in March, to 95 points, an increase of 4 points, according to INSEE.

In the U.S., the indicator of new home sales will allow investors to refine their expectations of recovery in the industry and the economy in general.

The increase is in line with market expectations.

In January, prices showed an increase of 0.2%.

Gasoline accounted for more than 80% of the increase in consumer prices in February, said the Labor Department.

Excluding volatile prices such as food and energy, inflation remains subdued with an increase of 0.1% in February after a 0.2% gain in January.

The February increase is below market expectations (+0.2%).

The price of gasoline jumped 6%, their largest increase since December 2010. They had gained 0.9% in January.

Food prices were flat last month after rising 0.2% in January.

Over one year, the consumer price as a whole jumped 2.9%, as in January.

Excluding volatile, they rose 2.2% after rising 2.3% in January.

The Federal Reserve said Tuesday that soaring energy costs would result in a temporary rise in prices. In the long term, inflation is expected to be more than 2%, the objective of the central bank.

At their next meeting in April, the G20 agreed to agree on a financial firewall around 2,000 billion dollars (1.487 billion euros) to prevent European debt crisis from spreading and threatening the global recovery.

This would be the most ambitious effort since the 2008 financial crisis, when the G20 has reached 1,000 billion dollars to save the global economy. 

In an unexpected turn, Germany announced that it would decide in March on strengthening the European bailout fund, an initiative it excluded so far and that many G20 countries consider essential before any increase IMF resources.

For many partners in the euro area, it is indeed the first European leaders to implement the necessary means to control the risks of contagion from the debt crisis, for example by combining lending capacity of its two mechanisms of financial stability, the European Financial Stability Fund (EFSF) and the European Financial Stability Mechanism (MES ).

This would bring their firepower combined with some 750 billion euros. 

G20 countries would then be more inclined to answer the call of the IMF, who wants more than double its capacity to respond by raising $ 600 billion of additional resources.

Added together, all these measures would create a global financial firewalls of about 1,950 billion.

The question of strengthening the bailout funds in the euro area is on the agenda of the European Council of March 1 and 2.

Japan and Britain have reiterated over the weekend that they would refuse to increase their contributions to the IMF as countries in the eurozone will not self-reinforced ; their own firewall facing the debt crisis. 

"I expect that the debate on strengthening the capacity of the IMF loan is progressing as long as the problem of European debt crisis is resolved by the G20 meeting in Washington in April, "said Japanese Finance Minister Jun Azumi.

While the new aid package of € 130 billion is now almost ready, the finance ministers of the euro area are still not satisfied with the commitments made by the Greek political leaders to implement the agreement, by 2014 that provides new budget cuts and many unpopular reforms.

There are also doubts about the path of debt reduction Greek. It represents about 160% of gross domestic product and the "troika" consisting of the European Commission, the European Central Bank and International Monetary Fund (IMF) would like to bring to 120% by 2020.

"There are proposals to delay the Greek package or cut into parts to avoid an immediate default without engaging the whole (package)", has said one source.

"The options will be discussed (…) There is pressure from several countries to hold things until there is a concrete commitment in Greece, which could not come before the elections, "they added.

A telephone conference of finance ministers of the euro area must take place at 17:00. It replaces a scheduled meeting in Brussels, canceled the commitments incomplete Greek political parties.

Germany, Finland and the Netherlands are the countries that grow in the direction of delaying the adoption of the plan, have identified two other officials.

Under the terms of the support plan in Athens, an exchange of debt securities must be made within the next few days between Greece and its private creditors, who would accept a loss of face value of 50% and would reduce Greece's debt of 100 billion euros. 

GREEN LIGHT Monday?

The plan must allow Athens to honor the repayment schedule of debt amounting to 14.5 billion euros on March 20 and avoid a disorderly default difficult to assess the consequences for the entire euro area.

About 30 billion euros of the 130 billion dollars are intended to accompany the restructuring of private debt. Thirty other billion are needed to recapitalize the Greek banks.

But the rest of government loan would in turn conditioned on further progress on structural reforms in the country.

Asked about the possibility of dividing the package into several blocks, the spokesman for European Commissioner for Economic and Monetary Affairs, Olli Rehn, said no decision had been ; taken.

"So far in the discussions, it has always been addressed as a single package," said the spokesman.

Segmentation of aid could also face technical problems, private creditors calling, before the exchange of securities, guarantees the public phase Plan. 

These discussions could in fact have the principal purpose of increasing the pressure on Athens to political parties to commit themselves fully to implement the plan, whatever the election results in April.

Antonis Samaras, the Greek leader of the conservative New Democracy, has also sent Wednesday afternoon a letter to the EU and the IMF in which he undertakes to implement the new measures austerity.

Several European leaders, the main goal is to approve the second politically aid plan Monday and Tuesday in connection with meetings of finance ministers from the eurozone and the European Uni ; enemies in Brussels.

Net income in the fourth quarter totaled $ 1.65 billion (1.25 billion euros), or 72 cents a share, against $ 5.77 billion , or $ 2.46 per share a year earlier, when the group had earned a windfall due to the acquisition of its bottling operations in Latin North America. 

Excluding items, earnings for the world's leading manufacturer of soft drinks rose to 79 cents per share in the fourth quarter, against 77 cents per share expected by Thomson Reuters consensus I / B / E / S.

The worldwide turnover of the group rose 5% to 11.04 billion, against a consensus to 10.99 billion. Volumes worldwide rose 3%.

Coca-Cola also announced a new productivity program expected to generate 550 to 650,000,000 of dollars in savings by the end of 2015.

The title was trading 68.90 dollars in exchange for pre-market after closing at 68.03 dollars the previous day in New York.