In the first three months of the year, adjusted earnings came in at 59.2 billion kroner (7.8 billion) against 47.2 billion ago one year and 53.4 billion expected by analysts.

Production of oil and gas over the period reached 1.970 million barrels oil equivalent per day, against 1.765 million a year ago and a consensus of 1.881 million.

For all of 2012, Statoil has stuck to its projections of production of some two million boe / d.

The Dow Jones Industrial 30 yielded 0.08%, or 10.75 points, to 13,268.57. The S & P-500, wider, lost 3.51 points, or 0.25%, to 1402.31. The Nasdaq Composite, however, advanced on his side of 9.41 points (0.31%) to 3,059.85.

The day before, the Dow had reached in a meeting again four years earlier. And the S & P 500 is up about 11% since the beginning of the year.

Job creation in the private sector last month in the U.S. proved well below expectations, according to the results of the monthly ADP. It was created 119,000 jobs in April as the market expected 177,000 additional jobs.

"If fewer people are involved in the ongoing recovery, it is a sign of underlying weakness which must be addressed. So far, the response of autoritésa been a credit facilitation, maybe he should look no further, "said Jack Ablin, Investment Officer at Harris Private Bank

. This indicator was published in the wake of European statistics bleak ..

……. industrial activity in the euro area contracted again in April while the slowdown in the peripheral countries appears to spread to France and Germany, according to final data from the survey with Markit purchasing managers

….. …. The unemployment rate in the euro zone was 10.9% in March, its highest level in 15 years, mainly because of increases in Italy and Spain. 

In addition to this weak economic table laughing, industrial orders recorded in March in the U.S. its largest decline in three years mainly because of lower demand for e Facilities in the transport sector.

"What the market needs is a sign that the economy does not deteriorate. Although growth is low but it is still there, "said Ralph Edwards (ITG)

The Nasdaq Composite was particularly supported by the good performance of the title Intel, which rose 0.79% to 29.18 dollars, many investors whereas the action of the world's leading semiconductor remains undervalued e

. sector home builders surged 2.60%, brokers citing the growing political support for measures sug rant to cancel the principal of mortgages

. The recovery in the housing market is considered essential to the sustainability of growth United States

.

This natural disaster had disrupted for months the production chain, in the automotive sector and elsewhere.

Data released Tuesday by the Japan Automobile Dealers, however, show that sales of April 2012, which reached 208,977 units, still 5.9% lower than those of April 2010.

Toyota sales including the Lexus brand, rose 185%, while Nissan was 51.6% and 61.5% of Honda.

President of the European Central Bank (ECB) Mario Draghi agreed Wednesday that he hoped the massive loans made in recent months by the institution to European banks would benefit more quickly to the real economy.

The ECB has lent some EUR 1,000 billion over three years on terms very favorable to the banks of the euro area at two outstanding operations in December and February, hoping thereby stimulate lending and thereby the economy as a whole.

But in the economy right now "demand is therefore contained the credit application is contained," Draghi said at a hearing before MEPs. Lending operations have improved the financial position and allowed to "buy time", said Mr. Draghi, which is "not negligible", "but we can not compensate for the lack of demand," Has he added.

For the head of the ECB, the lack of credit is explained more by the crisis, which reduced demand for financing of households, by the cautious behavior of banks. The IMF, however, points to the prudence of financial institutions.

"The pressure on European banks remain high. They face the risk of public debt, weak economic growth, higher requirements when renewing their loans maturing and the need to strengthen their reserves to regain investor confidence, "say economists Fund

. The IMF also estimates that 58 major European banks may have to reduce their assets 2,600 billion by end 2013 to comply with the requirements of the European Banking Authority in terms of capital ratios. Such a perspective is not only bad for financial markets. It would also limit the ability of bank funding, particularly in countries where interest rates remain high, and decrease further loans to businesses, potentially creating a vicious cycle, explains Fabrice Cousté, CEO of CMC Markets France

.

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%.

The S & P 500 benchmark index fund managers, rose 0.1% over the whole of last week, posting its fifth weekly advance in six weeks.

The current upward cycle in the S & P 500 is now five months since the beginning of the year, it was up about 9% after being flat in 2011.

Friday's session marked the third anniversary of a lower-end 12, to 676.53, hit in financial crisis. Since then, the index has more than doubled.

"(…) We'll probably have a bit of respite before the expected correction," said Scott Billeaudeau, portfolio manager at Fifth Third Asset Management.

Market participants explain the good performance of Wall Street by the recent series of U.S. macroeconomic indicators better than expected, suggesting that the upturn to the States United gaining momentum.

The latest example, the employment figures for the month of February, with 227,000 non-farm jobs created last month, against 210,000 expected by economists and an unemployment rate remained at , its lowest level in three years, to 8.3%. 

Although the International Swaps and Derivatives Association (ISDA) said on Friday that Greece had triggered a credit event by enabling legislation requiring all private creditors to take losses, the Greek record ceases, the moment of worry.

The announcement came after the ISDA confirmation that Greece had managed to avoid an imminent default, for the largest restructuring of sovereign debt ever held e.

LOTS OF CASH

"Concerns about Greece will not disappear at once, but the nightmare scenario has been avoided (…)" noted Leo Grohowski , Investment Officer at BNY Mellon Wealth Management. 

Natalie Trunow, which occupies the same position at Calvert Investment Management, believes there could be a setback for U.S. equities in the short term, adding that any such reduction will not be drastic.

"There is so much money in the institutional and individual portfolios (…) long term evolution is increasing," she said.

From a technical standpoint, the indices evolve to a level close to thresholds of resistance. Their crossing or not could be decisive in shaping the market next week, said Chris Burba (Standard & Poor's).

The statements of the Federal Reserve after its decision on interest rates Tuesday (18:15 GMT) will also be well attended, the slightest indication of the Fed's intentions regarding possible new measures to support the economy is likely to give a boost to Wall Street.

Despite improvements in the labor market, a majority of "primary dealers", these intermediaries who deal directly with the Fed, think the Fed will eventually launch this year th a new program of quantitative easing, according to a Reuters poll. 

Compared to a previous survey of this type, the size of the "QE3" however, was estimated to decrease to $ 525 billion, 600 billion against anticipated s last month.

With over a barrel of U.S. crude which settled above $ 100, the data on producer prices and consumer, respectively scheduled Tuesday and Friday , will be well attended.

Among other indicators set next week include retail sales (Tuesday or the index of consumer confidence measured by the Reuters / University of Michigan Thursday).

Rising rents would be over? The question is legitimate. Because after an increase slowed in all of 2011 (1.6%), against 2.5% in 2010 – the rents are down 0.1% on the first two months of the year . To figures released Tuesday by the observatory Clamor, which includes donors, agency networks and professional organizations. Here's to remember the private rental market "anxious and depressed" according to the observatory.

The activity of the rental market back

After having recovered in 2011, residential mobility, ie the proportion of housing tenants changing folds in the year beginning 2012. Consequently, the number of rental accommodation decreased by 5.1%. In practical terms, this represents less than 80,000 units over the period from 2010 to 2011. Chief among the regions where mobility is the highest: Brittany, Franche Comté, the Loire and Limousin, where it is around 10%. Conversely, the mobility is around 5% in the Ile-de-France, Picardy, Poitou-Charentes and Languedoc Roussillon. In contrast, residential mobility was down by just 2% in Champagne-Ardennes and Rhone-Alpes.

Rents are moving down

Tenants no longer dared to hope: rent prices are falling. The figure is symbolic for the time since the erosion is only 0.1% and only affects the first two months of the year. But gone are the days where residents had not experienced a decrease in rents. Between 1998 and 2012, average rents increased by 2.9% per year. In 2011, the increase was more reasonable 1.6%.

So why do they fall early this year? Due to a request "hesitant" household. As proof, the period of vacancy-time to find another tenant-lengthens. Another factor is the deterioration of the labor market, worry and purchasing power at half-mast. But lower rents differs depending on the city, but also the surface of the well. Over the full year, the rents would "stagnate or show a small increase," predicted Clamor.

The average price falls to € 12.4 m2

In 2011, the average rent accounted for 12.5 euros per square meter. It is the euro to 12.4 m2 in 2012, but it varies widely from city to city. Among cities of more than 60,000 people polled by Clamor early 2012, the Ile de France remains the most expensive, with 18.1 euro per square meter. The prize for the highest rent is attributed to Neuilly-sur-Seine, where it takes 23 euros per square meter …. Conversely, it is 8 euros in Saint-Etienne in the Loire.

Baisssière trend affecting more and more cities …

Since the beginning of the year, it concerns 46% of cities against 30% in 2011. The decline in rental prices is around 2.5% for half of them. This is the case for Nice with a decrease of 1.1%, -2.6% for Bordeaux, and a 3% decrease in Caen and Cannes. Conversely, the rent increased to 54% of cities such as Nantes, Metz, Narbonne, or Tours. The largest increase is attributed to Niort in the Deux-Sevres with 9%. And the largest decrease was recorded in Upper Normandy. It is in this region where the rent has recorded the largest decline between early 2012 and early 2011 (-5.2%)

… but it covers only small areas

The decrease relates only to small areas. It is 1.5% less for a studio and a room. In total, the cost for a T1 evaluates to 444 euros. However, the price of three, four and five parts increases. For a five-piece, rents increased by 3.8% or 1086 euros on average in February.

The rent for relocation accelerates

It is well known, homeowners enjoy the change of tenant for rent augementer. And it continues unabated in 2012, on the contrary; While the rent increase was 1.9% in 2011, it began rising again in 2012 to $ 3.8%. Besides the increase in change of tenant, Clamor considers property rented with work increased 9.1% in 2011, 1.5% current work no work down 7.1%

In Paris, around 9:35, the CAC 40 gained 0.54% to 3,460 points. In London, the FTSE advance of 0.33% and Frankfurt, the DAX is 0.64%.

However, the gains could be limited, due to persistent concerns over the fate of Greece, which Standard & Poor's Monday lowered the sovereign credit rating to SD (default selective).

German lawmakers approved Monday by a large majority the last bailout of Greece, despite pressure on Chancellor Angela Merkel that Germany cease to pay money in a "bottomless pit". Analysts say the vote could undermine Merkel, however politically, making it harder still a green light from Berlin to the strengthening of emergency funds in the euro area.

Banks are among the highest increases sectoral European sector index gaining 0.6%. Deutsche Bank and BNP Paribas 1.8% gain.

The action PSA earns 8% and signs the largest increase in the CAC 40, the French manufacturer pursuing advanced talks with General Motors as part of their proposed strategic alliance in Europe.

Casino earns 1.6% after announcing a sharp increase in its annual results, driven by a contribution from emerging countries, which more than offset the decline in performance in France.

TomTom gives up nearly 18%, the specialist Dutch navigational instruments having unveiled a 76% drop in net profit in the fourth quarter and said it expects that the decline in sales will continue this year.

Bunds are stable, close to their highest level in five weeks. German paper demand is indeed supported by Berlin's reluctance to strengthen relief funds in the euro area.

The euro climbed to 1.3450 dollars more, despite the new Greek downgrade by S & P, the latter being widely expected by markets. The single currency earnings still waiting for an abundant liquidity from the ECB.

As for the yen, which has registered the day before a nine-month low against the dollar, it is taken in favor of large purchases of month-end from Japanese exporters. But the Japanese currency is poised to record on the month's decline most marked over two years and traders expect it remains under pressure.

Oil prices continued their decline after a sharp rise the previous week, but lingering fears surrounding the Iranian offer to limit gross losses. Brent crude is trading around $ 123, that of U.S. crude around $ 108.

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.

The EU executive believes that these two sets of measures would allow the euro area to overcome the current crisis by advancing to an organization in which greater solidarity would be offset by increased liability of the members.

Depending on the device, the EU executive could amend not only the first draft national budget, submitted in April, but the budget bills during the second half of the year.

The Commission may make recommendations or even claim that a new budget is established, if necessary up to defend his opinion directly to national parliaments after discussion between the finance ministers of the euro area.

But the parliaments retain the final say on the budget, but the EU executive would in turn can open without waiting for an excessive deficit procedure if it considers that the country moves away from the budget path which is recommended.

In extreme cases when the country refused repeatedly to comply with EU recommendations, it could be placed "under administration" Community Trust in the clear in Brussels.