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Lafarge announced Friday an increase in its turnover and its operating income in the first quarter thanks to emerging markets and improved pricing, allowing the world's leading cement to reduce its debt.

The group, which now generates 60% of its sales in emerging economies, achieved the first three months of the year sales up 5% to € 3.35 billion, slightly above the consensus reached by the editor of Reuters estimates from eight analysts who gave $ 3.3 billion.

Ebitda rose to its share of 8% to 516 million euros while operating profit rose 28% to 267 million. 

However, net income, group share, shows a loss of 44 million euros, against -29,000,000 a year earlier, reflecting restructuring charges corresponding in particular to the 500 job cuts engaged around the world as part of the reorganization of the group. Excluding these charges, Lafarge has emerged over the period with net income of 18 million euros.

"The group continues to anticipate an increased demand for cement, and maintains its estimate of market growth between 1% and 4% in 2012 compared to 2011," the group said in a statement .

"Emerging markets remain the main driver of demand growth (…) The prices should be up on the year 2012, and cost inflation more moderate e in 2011. "

CONTINUATION OF ASSET TRANSFERS

In the first quarter, net debt of Lafarge fell 13% year on year to 12.4 billion euros. One quarter to another, it is clear, however, up 3%, a trend linked "to normal seasonal variations in working capital (working capital needs)," said Lafarge.

The group's debt, inherited largely from the acquisition of Orascom in 2008, is still expected to decline "significantly" this year, without elaborating.

As part of its debt, Lafarge intends to limit to 800 million euros investment and reduce by at least 400 million euros in 2012 its costs. The group also maintained its target of over one billion euros of asset sales over the year, of which 71 million were made during the quarter.

Both activities are the subject of rumors of transfers, the plaster in North America, last active group in a trade which it is almost released last year, and cement in South Africa . The group must also achieve significant asset sales in Britain required by the Competition Authority to give its green light to the proposed joint venture between Lafarge and Anglo American.

"It is not impossible that these divestitures can be made in 2012," said the CEO of Lafarge, Bruno Lafont, during a teleconference.

The stock closed Thursday at 29.97 euros. Since the beginning of the year, the title took about 10%, after -42% in 2011.

The term fast cash does not refer to money that falls from the sky. It refers to the money obtained through a cash advance.

Societe Generale has succeeded in the first quarter to offset the impact of measures in its financial balance sheet reduction imposed by the crisis thanks to the good performance of its Activity s, mainly in banking and investment banking.

Committed since the fall of a larger plan to restructure its BFI, like many other banks in Europe, the French bank said Thursday it had sold to During the first three months of 6.4 billion euros in assets, continuing to strengthen its financial solvency. 

The group has subsequently confirmed its objective to achieve a capital ratio "hard" between 9% and 9.5% under the new prudential regime Basel III said, dismissing any increase again capital to achieve this.

"The group continues its transformation into an active and disciplined. There is a strong capital generation in the quarter," said Frederic Oudéa, the CEO of the SocGen, during a telephone press conference.

He spoke earlier this year a "strong" enabling "to look forward with confidence".

The net result of Societe Generale, the first French bank to publish its quarterly results came out at EUR 732 million, down 20.1% . According to the Thomson Reuters consensus I / B / E / S, analysts on average expected 748 million euros.

"These figures and the effort of deleveraging (reducing balance, Ed) a little more credibility to the group's ability to achieve its goal of Tier 1 common equity by 2013," said Alex Koagne analyst Natixis, in a research note.

16 BILLION IN ASSETS TRANSFERRED SINCE OCTOBER

In exchange, the action Societe Generale, which was displayed at the opening the largest increase in the CAC 40 index with a jump of nearly 5%, significantly reduced gains by midday. At 24:55, the title took 0.58% to 18.14 euros, underperforming the European sector index stroke (1.33%).

Since the beginning of the year, the stock rose more than 5%, against a 4% increase for the European banking index.

"The underlying results are very good. This happens mainly on the BFI, but retail banking in France has been quite stable," said one financial analyst based in London , who declined to be named.

"The fact that they sold in the quarter of the assets of poor quality, most penalizing under Basel III, is rather good news. In one quarter, they save 600 million (euros) in capital, "he says

. In the end, between October 2011 and March 2012 , SocGen sold for more than 16 billion euros of assets

. Constraints by the European Banking Authority (EBA ) to improve their financial solvency to cope with the crisis of sovereign debt in the euro area, European banks must always increase their equity by the end of June, the objective being a minimum ratio of 9%

. At the end of March, one of Societe Generale was 9.4%. Asked about

asset sales, Frederic Oudéa declined to make any comment on e ; ventuelles sales entities or subsidiaries. 

PERFORMANCE OF THE BUSINESS RATE

Particularly monitored by analysts, the activities in which BFI SocGen makes significant job cuts recorded a net decline of nearly 41%.

The bank manages to generate income up 39% in its interest rate, currency and commodities. For comparison, in this sector, the Deutsche Bank had revenues down 8% and Barclays saw its own increase by only 9%.

This performance of SocGen is also welcomed by several analysts.

"The performance of the BFI is remarkable with a decrease in revenues limited to 8%," said Alex Koagne, at Natixis. "This good performance is mainly supported by the FICC (fixed income, currency and commodities, Ed)."

"The activity rate is a surprise," said Tom Van Kempen, an analyst at ING. "They may have reallocated resources in these activities."

After benefiting from a rebound in the stock market earlier this year, the French bank stocks have returned an intense volatility for a month because of a renewed 'concerns about the debt crisis in the euro area.

Investors are also left out of the French banking stocks due to uncertainties related to the presidential election in France, the Socialist candidate Francois Hollande providing sector reform to protect customer deposits and make activities less risky market.

Pierre Mariani denied Wednesday a decision on his replacement as head of Dexia, the Franco-Belgian bank being dismantled, and tried to defuse a polemical ; economic initiated in Belgium he would receive a golden parachute when he left.

Several Belgian newspapers reported that the Belgian government would like to replace Karel De Boeck, former CEO of Fortis. They add that Pierre Mariani was ready to leave his position as Group CEO on condition of receiving severance pay of EUR 1.2 million provided in the contract .

Reacting to the press articles, Pierre Mariani has denied having set conditions for his eventual departure.

"The Group CEO has made no request to the Belgian and French about the conditions of his eventual departure contrary to news reports published so far," he Pierre Mariani informed in an email to Reuters.

"No decision on the replacement of the CEO and President (Jean-Luc Dehaene, Ed) Board has been taken to date" he continues. 

"NO GOLDEN PARACHUTE!"

In Belgium, the assumption of payment of severance pay as described by the press was greeted coldly by the government and by politicians.

"Certainly, this should be discussed with the French authorities, as (with) shareholders. But my position is clear: no golden parachute! "Said Prime Minister Elio Di Rupo on his twitter account

." 1.2 million euros of golden parachute for Pierre Mariani is unacceptable as incomprehensible! ", were on their side exclaimed MPs environmentalists in a statement …… Dexia

… already saved from bankruptcy in 2008 by Belgium, France and Luxembourg, was cornered in the fall due to the dismantling of the crisis of sovereign debt

. Luc Coene, the Governor of the Central Bank of Belgium, said Monday Dexia, which enjoys state guarantees for its refinancing needs, would probably need to be recapitalized again

……. .. Since the crisis, the banking group has seen its market capitalization collapse. It is no longer valued on the stock market than about 370 million with a share price below 20 cents.

"CONFIDENCE TO PETER MARIANI"

Asked by Reuters, Michel Bouvard, president of the supervisory board of the Caisse des Depots (CDC), Dexia's largest shareholder with 17.7% stake, has in turn brought ; support for Pierre Mariani.

"Personally, I have every confidence in Pierre Mariani," said Michel Bouvard. "When you are in managing a complex issue, which is the case, it is better that he who began managing the file management ends until one goes to the next step. "

"I did not speak on matters of internal governance of Dexia," he nonetheless added.

Since the decision late last year to dismantle Dexia, the Belgian authorities have carried out the nationalization of retail banking activities in Belgium while France has decided to return via the CDC and the Postal Bank, the activities of local government financing.

The European Commission must still approve the plan and set the price that Dexia will have to pay in exchange for 90 billion euros of state guarantees provided. 

Dexia posted a net loss of 11.6 billion euros in 2011, and some analysts said the bank could continue to generate losses in the coming years.

Although in sharp decline, the size of the stock of Dexia is considered by some analysts as systemic because a failure to pay the bank would have incalculable consequences for the entire sys European Banking me.

Travauil Minister Xavier Bertrand said that the situation on the employment situation "remains difficult". The numbers of job seekers in March will be published in late today to 18. The Minister of Labour and of Health Xavier Bertrand

Labour Minister Xavier Bertrand said Thursday that the situation on the employment situation "remains challenging", but the first quarter of 2012 will be "better" than the last in 2011, while the numbers of job seekers will be published in March in late afternoon by his ministry. "We will remain a difficult situation, everyone would expect, given the economic climate. That said, we will have a first quarter of 2012 to be better than the last quarter of 2011," said Minister interviewed on LCI data of March.

"We will not be satisfied with this path, we must do much more and much better in terms of outcome," he said. "You have to have a significant and sustained decline in unemployment and, for that, we need major reforms much larger still," he added. As he was questioned about whether the figures for March – the last of the five-year period – will be bad he repeated: "the situation remains difficult." In February, the number of job seekers without work in France had increased for the tenth consecutive month reaching 2,867,000 people, or 6,200 more than in January.

European shares ended sharply higher Tuesday, boosted by a Spanish award whose success is due to a sharp rise in interest rates and by the unexpected rise of the confidence index of German investors.

Paris closed up 2.72% to 3292.51 points after having crossed a zone of resistance around 3,260 points.

London gained 1.78%, Frankfurt and Madrid 2.65% 2.28%. The Euro Stoxx 50 index of large values ​​of the euro area took 2.86%.

The performance of the German government bond (Bund) and 10 years stood at 1.76%. The rate of the 10-year Italian BTP also remained stable at 5.48%, and that of the Spanish equivalent of eased 2 basis points to 5.9%.

The euro was steady at the end of the afternoon against the dollar, around 1.3130.

In a report in late March, the General Inspectorate of Social Affairs denounces malfunctions in the purchase, adaptation and monitoring of training job seekers. Agency employment center in Nice

Procurement procedures by training employment center for the unemployed are too rigid to be fully effective, agents lack a simple tool to identify a suitable training to all job seekers, underlines the Igas in a report in late in March. While Nicolas Sarkozy has made training for the unemployed a hot topic of his campaign and he expects in the coming days the proposals of Senator Gerard Larcher UMP to get the number of trained unemployed 10 to 40%, the General Inspectorate of Social Affairs estimates that the "excessive rigidity" group purchasing system "undermines the quality of training purchases."

Training, subject to competition rules, are subject to tendering procedures with bidding. Procedures to reduce and respond more quickly to the needs of the regional employment center buy training packet. Based on a survey conducted in four regions (Brittany, Picardy, Poitou-Charentes and the Rhone-Alpes), the peak Igas a series of malfunctions: bidding "when no match was found necessary "or" training provision was anyway available in the region ", and especially tools" still often craft "in the hands of advisers employment center," which is a major obstacle to access seekers job training ".

"The rate of filling internships are only up to 100%", generating "additional costs" for the employment center for the training are paid hourly and ordered not to the number of students present, is still Igas . The economy of scale is not to go: Poitou-Charentes, the actual average cost is 4,500 euros per student in group training, against € 1,800 in individual training. This principle of payment should be reviewed in the next framework agreement laying down the purchasing of training, employment center told AFP. The Igas also criticizes the weakness of monitoring tools for trainees and training organizations who "deserve to be professionalized."

It suggests defining monitoring indicators (time to begin the program, fill rate, rate of return to work), that are among the very few actors in training, unlike other countries. To increase productivity and reduce the workload of councilors employment, "the establishment of + platforms + training entrusted with the functions of + back office + (registration, payment, recovery certificates, etc..) Should be generalized," continues the 'Igas. The calls finally Igas better "joint" with the regions, who buy them as training for the unemployed: skills training for the regions, training for rapid re-employment to employment center. Employment center has a monopoly in the prescription of training the unemployed but the fact that some funds (17% in 2010), the remaining regions the major funders (57%).

Poweo released Friday a net loss of 64.3 million euros for 2011 – divided by more than two compared to 2010 – due to poor performance of its generation assets sold in early 2011.

The alternative supplier of gas and electricity French, being merged with Direct Energy, has recorded sales of 503 million euros (-28%) and a gross margin of 47, 6 million (-30.1%).

However Poweo reported net earnings of 6.3 million euros in its new scope, which includes its core activities in the supply and optimizing energy and a gross operating income of 12.8 million and a turnover of 405 million. 

With the implementation of the Law on the reorganization of the electricity market, which gives it access to nuclear EDF, Poweo also stresses that its gross margin s is improved but without covering all of its operating costs.

Due to lack of capabilities to compete with the public electrician, had to sell Poweo early 2011 its means of power generation to its former shareholder of re Verbund conference to provide the resources necessary for the continuity of its operations. 

The group then announced in July the purchase by Direct Energy of the 46% stake held by Verbund, prior to the merger of two French operators, whose boards of directors come from approve in principle which will create a new group of more than one million residential and business customers.

A disappointing statistic relating to properties in the United States a pretext to the consolidation of stock markets Wednesday. European shares ended little changed in exchanges provided little in the wake of Wall Street at the same time.

In Paris the CAC 40 finished with a decline of 0.1% to 3,527.37 points. In Europe, the Stoxx 600 index of European banking achieves the worst performance, with a 0.9% decline, due to the unexpected drop in home sales in the old United States.

Home sales in the former fell in February in the U.S. and inventories of unsold homes increased, according to data released Wednesday by the National Federation of Estate Agents ( NAR).

After two sessions of declines, investors hoped that this statistic would be in line for a confirmation of the recovery in the United States.

According to observers, after the pause in Wall Street and European markets, markets will start rising. 

At the macroeconomic level, the British government announced a lower top rate of income tax and new taxes on large estates by unveiling a budget expected to provide better re ; partition of the burden of austerity while strengthening the announced reduction in the deficit.

Europe is ready to support Portugal in the implementation of economic reforms necessary for the country, said Thursday Olli Rehn, Commissioner for Economic and Monetary Affairs .

"To me, the solidarity of its European partners in Portugal gives the time required for the implementation of reforms," ​​he told the Portuguese parliament after he has e ; tee Lisbon asked if he needed a second aid plan after the first, 78 billion euros, decided last year.

Olli Rehn that he was not constructive to discuss the possibility of a second plane for Portugal, adding that the country should focus on its program of fiscal consolidation and re ; structural forms. 

Some economists believe that Portugal, like Greece, will need a second international aid plan.

Wednesday, Olli Rehn had felt that the situation in Portugal was not comparable to that of Greece.

He also said that Portugal was on track to achieve the goals set by the bailout of 78 billion euros.

U.S. stocks open slightly higher Friday after the announcement of more new jobs than expected last month in the United States.

In early trade, the Dow Jones gained 0.16% or 20.17 points, to 12,928.76 points. The Standard & Poor's, wider, takes 0.25% or 3.49 points to 1369.38 points while the Nasdaq composite wins 0.3% (8.71 points) to 2,979.12 points.

The U.S. economy created 227,000 non-farm jobs last month, according to statistics from the Labor Department, and the unemployment rate remained at its lowest level in three years to 8.3%.

On the values ​​front, Monster Worldwide, the agency offers online job, gaining nearly 2%. Manpower is 0.2%.

The market is also supported by the announcement of a high acceptance rate of return for Greek debt.

Three years ago exactly, in a financial crisis, the S & P 500 posted its lowest closing level in 12 years, to 676.53 points. Since then, the index has more than doubled.

Side decreases, Texas Instruments lost 1% after launching a warning on its first quarter results.