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The year 2011 has been that of all records on the art market, marked by the dramatic emergence of Asia, led by China. The 10 digit extraordinary auctions selected by the data specialist on art, Artprice. By a sale at Sotheby's in New York.

11.5 billion USD: world product auctions. Time high this year, sales revenue for the first time exceeds the 10 billion USD, up 21% over the last twelve months. After a record first half, to 6.5 billion, the second half was equally outstanding, to $ 5.1 billion.

41.43%: the market share of China. China, the first country on the global art market since 2010, consolidated his lead. With auctions of $ 4.79 billion, up 38%, the country has a market share of 41.43%. Other Asian countries are also seeing strong growth. This is the case of Singapore, up 22%, or Indonesia, with a jump of 39% for example. And Asia as a whole now realize 43% of the art market.

4th: the position of France. France, third in 2006, is found from 2007 to fourth in the art market. This year again it keeps this place despite an erosion of its market share to 4.5%. Paris is now not only behind London and New York, but Beijing and Hong Kong. While Shanghai, with a growth of 21%, reduced the gap by half and heels less than $ 50 million the French capital.

$ 57.2 million: the price of a work record in 2011. This record does not belong to Pablo Picasso, Alberto Giacometti or, or Andy Warhol, but Qi Baishi who picks the best auction of the year for the work Eagle Standing on Pine Tree, Four-Character Couplet in Seal Script awarded $ 57.2 million 22 May 2011 in Beijing.

$ 272 million: the largest auction of the year. This is a sale by Christie's Contemporary Art in Post-War, New York on November 9. She has received two new records for Clyfford E. Still, as a record for the artist Gerhard Richter. Only 17% of the lots remained unsold, and 41 have gone over $ 1 million.

12,400: the number of artists who have set new records. More than 12,400 artists saw their auction up to new heights with Qi Baishi (57.2 million this year against 12.5 before 2011), Clyfford Still (55 million against 19), Roy Lichtenstein (38.5 million against 38), Egon Schiele (35 million against 20), Salvador Dali (19 million against 5), Gerhard Richter (18.5 million against 13) …

1688: the number of million. The auction for more than a million dollars jumped 33% in 2011. Unsurprisingly, it is China that holds the record for most number of works of art auctioned at above one million dollars, with 774. Hong Kong alone, he has won twice as many bids as millionaires in the entire euro zone!

58.5%: share of turnover achieved by the 1% most expensive lots. The remaining 99% of auctions share less than half the art market. And unsurprisingly, the "1%" are traded mostly in China, 50%, then the United States, 23%, and the United Kingdom to 20%.

34%: the rate of returns. Since 2007, never a sales ratio was spent below 35%. It's done this year with a sales ratio of 34.8%. And while the number of lots available for purchase at auctions rose 7%.

69%: the percentage of lots sold at less than 5000 dollars. Only 69% of the lots were auctioned in 5000 dollars. While in 2009/2010 this rate reached up to 74%. This year the number of lots does not diminish affordable, it actually increases by 4.5%, but less rapidly than the number of high-end lots. Asia, which now carries 43% of art market wins 19% of its lots beyond the $ 100 000.

ECB expected to leave interest rates unchanged after its policy meeting Thursday but could pave the way for a decline in March, while the Eurozone recession is threatened by the fallout from the debt crisis and the situation in Greece.

If no agreement is reached by Thursday on the austerity program needed to allow the raising of the Greek State, the President of the European Central Bank, Mario Draghi, will probably be attacked questions about the possibility that the institution waives its potential profits on Greek bonds it holds.

And if an agreement is reached by then, it must explain its terms, its consequences and the precedent thus created. 

Financial markets will also be on the lookout for clues that the ECB expects its second refinancing operation three years, scheduled for 29 February.

The first such operation in late December, allowed him to inject 489 billion euros into the financial system and to push at least temporarily the pressure on the banks of the euro area.

The latest Reuters poll forecast of professional money markets, the ECB could allocate additional 400 billion to banks at the end of the month.

Regarding rates, the threat of increasing net of a relapse into recession in the euro area has increased the likelihood of an easing in March, especially as inflationary pressures have receded ;. 

THE SITUATION Degrades

The ECB has never cut its refinancing rate, the main instrument of monetary policy, under 1% and some members of the Governing Council are reluctant to make it fall below this threshold.

In March, the new forecasts for growth and inflation teams of the central bank could give additional reasons to take the plunge.

"The March forecast will be worse than December," predicts Christian Schulz, an economist at Berenberg Bank. "It can be estimated at 60% probability of a rate cut in March because their growth forecast is too high."

In December, the ECB economists predicted further growth of around 0.3% in the euro area this year.

For Padhraic Garvey, head of rates strategy at ING, the ECB can afford to wait to learn more about the changing conditions before changing its rates.

"The next fall does not need to take place in March. We think it will take place during the first half," he says, adding that the decline in Euribor interbank rates is at least as important as rates of the ECB.

"The most important is that Euribor rates are trending down. The evolution of the Euribor for a month is equivalent to an actual reduction in rates, "he says

. The three-month EURIBOR , regarded as the main barometer of the market for interbank loans, dropped 26 basis points since January 1, to return as 1.1%, the lowest in 11 months … INFLATION RISK It

……

reflux reflects the efficiency of the operation refinancing to three years of the ECB, which has become the main weapon to combat the crisis of the ECB since its purchases of government bonds are now running in slow motion

…… Mario Draghi said … expect the transaction to three years late creating demand "significant". And some bankers expect to see the ECB banks allocate an amount higher than EUR 400 billion provided for traders polled by Reuters.

Christian Schulz estimates that more than 1000 billion injection on Feb. 29 could create inflationary pressures.

"The ECB should react very vigorously, by raising rates," he adds.

On the Greek chapter, the ECB is under pressure from certain creditors of Athens who wish to see transferred to the Hellenic State will generate profits that the debt Greek it has acquired since the beginning of the crisis.

According to sources from the ECB, it spent 38 billion euros to acquire these bonds, 12 billion less than their face value. 

Retroceding in capital gains, the ECB would contribute to the restructuring of the Greek debt finance directly without a state, which prohibit its statutes.

To do this, it could sell the shares at the European Financial Stability Fund (EFSF) at their purchase price, on condition of surrendering the EFSF away in Athens.

"I do not think the ECB will try to keep its obligations at any price," said Christian Schulz. "I think it would be quite happy to get rid of."

Vinci said Thursday that its subsidiary had won five contracts Eurovia maintenance of road infrastructure in the UK for a cumulative value exceeding 1.7 billion euros.

The contracts, whose initial terms ranging between five and ten years, covering all aspects of road maintenance, such as routine maintenance, inspection and repair works of Art, emergency response, snow removal and street lighting, Vinci said in a statement.

Two of these contracts were won through a joint venture with the American consulting firm Jacobs.

The Tokyo Stock Exchange ended Friday in a piecemeal, according to a new low of two and a half years in session for the Nikkei, while France and Germany have not reached the day before to convince investors of the imminence of a consensus on the answer to the debt crisis.

The Nikkei lost 0.06% (-5.17 points) at 8,160.01 points, while the Topix, broader took 0.52 points (+0.07%) to 706.60 points.

For the week, the two indexes have lost respectively 2.6% and 1.9%.

At the conclusion of a tripartite meeting in Strasbourg between the Italian Prime Minister Mario Monti, the French president Nicolas Sarkozy and German Chancellor Angela Merkel, the latter reiterated his opposition to any change in the mandate of the European Central Bank (ECB ) and the introduction of Eurobonds.

"Some investors bought oversold values ​​in the afternoon (Japan), but concerns about the situation in Europe remains" Judge Kenichi Hirano, Tachibana Securities.

Areva's strategic plan will not result in job cuts in France, said Tuesday the Minister of Economy, following a meeting with the CEO of French nuclear group.

The government so far ruled out job cuts, leaving the possibility of voluntary redundancies or job cuts by not replacing departures.

The president of Areva, Luc Oursel said at the meeting that the plan would result "no job cuts, no voluntary separation plan, no impact on the French sites," said Baroin reporters.

Private sector employees in four will. And the public, who were spared, one will suffer. "In fairness", says Bercy, which hopes to save 200 million euros a year. A fourth day waiting period will be introduced for private sector employees.

A fourth day waiting period will be introduced for private sector employees on sick leave, the government said Tuesday, expecting a saving of 200 million euros for Social Security. Currently, time to which employees are compensated by health insurance is three days, often offset by the employer in large companies.

"In fairness," will also be established "one day waiting in the three public functions", announced in a joint statement the Ministers Budget Valérie Pécresse, Labour Xavier Bertrand and François Public Sauvadet.Earlier in the morning, Prime Minister Francois Fillon ruled "reasonable" before the UMP to create a day off for employees on sick leave.

If the introduction of a fourth day in the private sector is a regulatory measure, the measure for staff requires a statutory provision, the statement said. The ministers' per diem disease, representing 6.6 billion, growing at a rapid pace and difficult to justify (3.9% in 2010, after 5.1% in 2009). "

Ministers argue that "the bill initial funding of social security plans to change the replacement rate of subsistence allowances (DSA), enabling a lower expenditure of 220 million euros." Both measures are intended to achieve "an economy equivalent," explains Ms. Pécresse and MM. Bertrand and Sauvadet.

After having declined slightly in September, prices of consumer goods in supermarkets rose by 0.2% in October. Carrefour supermarket in Antibes.

Prices of consumer goods in supermarkets are starting to rebound in October, with an increase of 0.2% over one month, after stability in September, announced Thursday the National Institute of Statistics and Studies economic (INSEE). Over one year, prices rose 3.2%.

In hypermarkets, these prices rose 0.2% last month after falling 0.1% in September. In one year, rising prices in hypermarkets reached 3.4% compared with a decline of 0.7% a year earlier. In supermarkets, prices rose 0.2% in October, after stability in September. Over one year the increase was 3.3%, after falling 0.4% in October 2010.

The European Investment Bank (EIB) could provide up to 74 billion euros in loans to banks in two years in Europe if its own capital was strengthened, including with money provided by its shareholders, according to a document prepared for the finance ministers of the Union.

Prepared for the Council of Finance Ministers of the EU, which meets Tuesday, the report details the means that could be implemented if the credit crunch.

"The risk reduction of leverage by the banks is not negligible and it is important to maintain and even increase of EIB lending to the real economy through the banks," said Bank in this document, dated November 3.

A source close to the government, China is considering investing 50 to $ 100 billion in the European Financial Stability Fund (EFSF). Nicolas Sarkozy and Hu Jintao in Beijing, April 28, 2010.

China is considering investing 100 billion dollars to help the euro area to combat the crisis of public debt, reported the Financial Times on its Web site Thursday, citing a government source. "China might be willing to contribute between 50 and 100 billion in the EFSF (European Financial Stability Fund) or to fund a new mounted under his leadership in collaboration with the IMF, according to a person familiar with the intentions of the Chinese leadership" , said the British newspaper.

"If conditions are suitable then something a little over $ 100 billion is not inconceivable," said the person at the Financial Times.

Nokia, faced with declining sales and profits, announced Thursday the elimination of 3,500 positions, including the upcoming closure of its plant in Cluj, Romania.

The closure of the Cluj result in the layoff of 2,200 persons.Nokia also plans to eliminate 1,300 positions in its other division Rental & Commerce, which includes the world leader in digital mapping Navteq.

These staff reductions are in addition to a program unveiled by the group in April to achieve 1 billion euros in savings, and including the removal of 4,000 jobs.

The world's largest maker of mobile phones by volume is facing a decline in sales and earnings after announcing in February that now employ the operating system from Microsoft for its smartphones.The first of them well equipped arrive on the market later this year.

The action Nokia has lost half its value since February, investors feared that the group would lose much market share until the launch of its new smartphones and no longer able to fully regain thereafter.

Around 9:10 GMT, the action to Nokia gained 0.96% 4.22 euros, while the European sector index electronics progressed from 0.17%.

Nokia also announced it would inject with Siemens € 500 million in their joint venture Nokia Siemens Networks, headed by Jesper Ovesen would succeed Olli-Pekka Kallasvuo, former CEO of Nokia.