The Nikkei gained 127.48 points to 8,287.49, after falling last week to a low of two and a half years.Government sources in Rome say they know nothing of any request for assistance from outside of Italy.

A trader in Tokyo noted, however, that markets remain very cautious about the debt crisis in the euro area.

"I thought that Italy would stabilize somewhat after the departure of (Silvio) Berlusconi, but the degradation of Belgium and the high yield suggests that Europe has entered a black hole," said Fumiyuki Nakanishi, strategist at SMBC Friend Securities.

"We do not know where is the next mine."

The British, French Sodexo's main competitor, displays the full year operating income (Rex) from 1.09 billion pounds (1.26 billion euros), according to 12 analysts' forecasts a study provided by it.

Its sales rose by nearly 10%, with organic growth of over 5%.

The action Compass, which has outperformed the FTSE 100 by 10% since the beginning of the year, opened Wednesday down more than 3% before reducing its losses.

The Nikkei lost 34.31 points to 8,769.09 and the Topix, larger yielded 1.57 points (-0.21%) to 750.45.

Greek Prime Minister George Papandreou concluded an agreement with the opposition to form a coalition crisis supposed to approve the bailout of the country put together in late October in Brussels.

But in detail, both parties have provided little information on how this will unfold, including uncertainty about the identity of the future prime minister who will lead the coalition.

The Nikkei lost 62.08 points to 8,988.39 and the Topix, larger yielded 7.37 points (0.96%) to 764.06.

The Bank of Japan intervened in foreign exchange markets to counter speculation that makes the yen to rise and threatens to seal the country's recovery after the earthquake of March, announced the Minister of Finance Jun Azumi.

The Nikkei took up 1.1% immediately after the announcement, which reduced the yen against the dollar, and some investors doubted that the yen could remain permanently low, took the opportunity to pocket their profits.

Honda Motor, Toshiba and Panasonic have lost respectively 3.68%, 3.86% and 2.06%, while their results were expected after the close. The three exporters are not only affected by the force of the Japanese currency but are in addition to their production in Thailand affected by the floods.

Research firm, which also reported a slowdown in activity in the third quarter, does not mention in its press release of a forecast growth in sales for 2011.

The group had said previously a target organic growth of over 6%.

"However, this reduction in growth prospects do not undermine the objective of Ipsos – Synovate out – to reach a record operating margin of at least 11% in 2011," the company said in a statement .

Ipsos, which became the third largest global market research industry by closing early October the acquisition of Synovate, said that the activity of the new entity should return to a normal rhythm "no later than summer 2012 ".

The third quarter sales of Ipsos, Synovate out to be consolidated from 1 October 2011, was $ 287.6 million, up 5.4% at constant scope and exchange rates, while Analyst estimates ranged from 5.6% to 6.0%.

It reflects a slowdown after growth of 6.4% announced in the second quarter and increased 6.2% over the first three months of the year.

The first nine months of the year, organic growth stood at 6.0% for sales to 845.8 million euros.

"The operating margin was up compared to the same period of 2010," said the company in a statement, without providing any figure indicated.

The French research company was particularly penalized in the third quarter by the slowdown in its business market research and advertising associated with a reduction in the number of client projects, Ipsos said.

Emerging economies, however, take the pace, with organic growth of 17% over nine months.

In its statement, the company said that the merger of the teams Synovate and Ipsos should be effective from January next year before the launch of a new integrated offering scheduled for February 15.

Already recapitalized in 2008 to 6 billion euros not the French public authorities, Belgian and Luxembourg, Dexia announced the beginning of October a new rescue plan led by the three countries.

The Prudential Control Authority (ACP) has sent two letters to Dexia Credit Local in the summer of 2010, copies of which were sent Thursday to Reuters by Georges Gilkinet, MP Belgian French-speaking Green party Ecolo.

"The College (CPA) found that the liquidity position of DCL, which does not comply with the regulations to the deadline of 30 June 2010 and also presents the risk of deterioration was particularly fragile," writing to the regulator DCL August 16, 2010.

"Under these conditions, it intends to place the institution under special supervision."

More detail in a letter sent Sept. 17, 2010, the CPA advanced many shortcomings in the management of Dexia Credit Local.

"In general, DCL is not or has not been always able to accurately determine the parameters of risk instruments markets," it said in the second post.

"The efforts of DCL and Dexia since late 2008 to address the weaknesses identified by internal audit group and this inspection mission are still insufficient to significantly reduce the risks, including counterparty and liquidity, and comply with prudential regulations and accounting, "the governor continued.

CONTROL OPERATIONS failing markets

He also noted the lack of control of Dexia Credit Local of its foreign subsidiaries' consolidated supervision of market transactions was deficient at the time of the survey, DCL not knowing the transactions initiated by its major subsidiaries including Spanish and German."

For the ACP, Dexia Credit Local had failed to mid-2010 to regain control of the risks taken by its various subsidiaries after its first rescue in 2008.

"This situation, similar to that already encountered in 2008 on the activities of the Slovak subsidiary, is not admissible in view of the notional amounts involved and the risks involved," he is also indicated in the report, in which the ACP doubt on the ability of Dexia to "effectively control the activities of its subsidiaries and branches."

A spokesman for the Prudential Control Authority declined to comment.

"This is a report on the consequences of the first banking crisis, we can not correct the story in a snap," Pierre Mariani defended himself in the newspaper De Standaard Dutch, noting that 'no sanctions had been taken against DCL.

A Dexia spokesman declined to comment further.

Dexia has given Thursday launched the final phase of its dismantling by validating the sale of subsidiaries whose Franco-Belgian bank must dispose as part of its rescue plan October 10.

First victim of bank scale of the crisis of sovereign debt in the euro area, Dexia should exist only as a holding company listed in Brussels which will combine the activities of financial services to the public sector in France, Spain, Italy and Germany.

Recapitalized on the basis of 9.9 euros per share in 2008, the Dexia share is worth more today than 0.61 euro. She lost three quarters of its value since the beginning of the year after falling nearly 39% in 2010.

Production increased by 0.2% the previous month, according to the expectations of economists polled by Reuters and after remaining unchanged in August. (Revised from an initial estimate showing an increase of 0.2% in August.)

Production in the utilities fell 1.8% last month.She fell 2.9% in August after the July heat wave that had boosted the use of air conditioners.

The rate of capacity utilization rose to 77.4% against 77.3% (revised from 77.4%) the previous month. (Reuters: 77.5%).

The deficit on trade in goods fell to 5.2 billion euros, against 6.4 billion a month earlier.

Trade in services have stabilized, generating a surplus of one billion euros.

The income balance has reached $ 3.5 billion from 3.6 billion in July while the current transfers deficit was unchanged at 2.2 billion.

The financial account showed a net outflow of direct investment of 800 million euros from 8.5 billion in July.

French direct investment abroad stand at 4.6 billion against 4.3 billion a month earlier.

Portfolio investment recorded net inflows of 21.7 billion euros residents increased their holdings of 34.6 billion while non-residents making sales of French securities to 12.9 billion.

Other investment posted net outflows of $ 4.9 billion after limited net outflows of 5.3 billion.

The world number two services for conformity assessment and certification, which has already almost doubled its turnover since its IPO in October 2007, intends to repeat this performance with an average growth of 9% to 12 % per year of its activity on the duration of the new plan.

In 2010, its turnover stood at 2.93 billion and surpasses three billion in the latter part of 2011.

"The 2012-2015 plan is a plan for development and growth rather ambitious in a difficult economic environment," said Frank Piedelièvre, CEO of Bureau Veritas, during a media teleconference.

"Especially because the trends of the markets where we operate are supported by fundamentals have not changed, including regulations and standards for safety and environment, which are deployed in particular in emerging countries."

The group estimates that the high-growth areas will weigh about 55% of its turnover within five years, against just under half now.It does however make a third of the growth target in the plan through acquisitions turned primarily to the mature markets.

Bureau Veritas has also set a target increase of 100 to 150 basis points of operating margin adjusted, stood at 16.3% on average over the last twelve months to June 30, and annual growth in its adjusted EPS 10% to 15% over the plan period.

The action group, held March 31 to 51.2% by Wendel, took 1.16% to 54.22 euros at 9:25 after advertising in a market generally downward trend, showing a market capitalization of 5 , 92 billion euros. At this price level, the title lost 4.4% since the beginning of the year, after rising by almost 56% over the whole of 2010.

German Chancellor Angela Merkel said on Friday that the growth of gross domestic product (GDP) German would be "closer to 3% than 2.5%" this year. This statement comes as concerns about the impact of cooling of the global economy on the German economy, heavily dependent on exports, are more vivid. The official growth forecast of Berlin is 2.6% since April, but throughout the summer German leaders, in unison with most economists, have dangled a much stronger growth , 3% or more.

The new crisis in the financial markets and the turmoil in the euro area, however, have changed the situation.Growth forecasts in the world and the euro area have been revised down recently, including the European Central Bank (ECB) and Thursday by the European Commission. German GDP growth in the second quarter is also emerged well below expectations, to a meager 0.1%.

Renowned research institute, the IfW in Kiel, said Tuesday that Germany was "on the brink of recession," and projected a GDP growth of 2.8% this year and 0.8% only the next year. But Merkel's comments suggest that Berlin could still revise up its official forecast, which should be adjusted in October.