The Paris Bourse ended with a gain of 0.46% to 3026.76. Other European markets end up in unison.

Values, Rémy Cointreau finished with a gain of 2.9%. The second group of French spirits saw its operating income rose 31% in the first half of 2011-2012 and intends to add a new brand to its portfolio of spirits.

The London Stock Exchange also ended up on a 0.46% to 5337.00 points.

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 euro area, you love it or leave it. This was essentially the message from Nicolas Sarkozy and Angela Merkel George Papandreou yesterday evening after a mini-crisis summit in Cannes. French President and German Chancellor had laid their conditions in the referendum decided by the Greek Prime Minister: consultation should not include the bailout of the euro but on the desire to remain or not in the euro area. And it should take place before Christmas.

From that moment, George Papandreou began successive setbacks leading to consider later in the day to withdraw its proposed referendum."One of the benefits for Greece out of the euro area is to default on its debt of 100%, but funding needs remain still very important," Jesus Castillo analysis, an economist at Natixis. Indeed, if it defaulted on its debt unilaterally and not coordinated with its creditors, Greece will be banned for a long time in financial markets. But the Greek public deficit, excluding debt burden, reached another 2.5% of GDP. To provide for turning the machine, the Greek state will have to reduce spending by 3 billion euros.

Moreover, the main losers of a total failure would not be French or German banks, but banks Hellenic, which hold a total of 52 billion Greek bonds, 15% of the debt. But the margin of Greek banks is very limited, if not nonexistent.

On the Nymex, the December contract on the U.S. light crude (WTI) ended on a loss of a dollar, or 1.07% to 92.19 dollars a barrel.

Meanwhile, Brent yielded 0.33%, 0.3 dollar to 109.23 dollars.

The announcement of a further slowdown in manufacturing activity in China and the United States has accentuated the negative sentiment in the markets. and

For the presidency of the last Board of Governors of the ECB, Jean-Claude Trichet, however, disappointed part of the market hoping the announcement of a rate cut by the end of the year as the economy slows and the Bank of England injected 75 billion for his part in pounds sterling (86 billion euros) in cash.

The CAC 40 index ended up 3.41% to 3075.37 points, following a rebound of 4.33%.Other major European markets, London was up 3.71%, 3.15% Frankfurt and Milan to 3.55%. The pan-European Euro Stoxx 50 index rose 3.18%.

"While the speech of Jean-Claude Trichet has disappointed some investors but remains on a positive note and not only to the ECB to intervene to improve the current situation," said Bertrand Lamielle, Director of Management mandated at B * capital.

INVESTORS MORE OPTIMISTIC

"Some had anticipated a rate cut and an increase in the size of EFSF (European Financial Stability), it was not the case.But we must remember that the mandate of the ECB is not the same as the Fed, and that it focuses only on inflation, which is why it has kept its rates unchanged, "he adds .

As before, the cyclical and financial stocks helped support the trend. The automotive sector grew by 4.3% and the construction of 4.04%.

Stoxx index of European banks has provided 4.18% and 5.08% of the insurers, the European Commission has announced that it would propose a coordinated action to recapitalize banks.

However, Dexia has also marked the session, the title having been suspended in the afternoon at the request of the Belgian authorities when he fell over 17%.Belgian regulators have indicated they wanted more details on the ongoing negotiations on the takeover of the Luxembourg subsidiary of Dexia in Luxembourg.

Except for the difficulties faced by the Franco-Belgian bank, investors want more optimistic about the European situation, as illustrated by the award of Spanish debt carried at rates much lower than this summer when the fears were strong to see the country contaminated by the debt crisis in the eurozone.

The yield on government bonds to 10 years is Spanish and dropped below 5% in session before recovering to 5.01% against 5.092% at the close Wednesday, while the Bund yield the same maturity is 1 , 95%, against 1.84% yesterday and nearly 1.72% on Tuesday.

Similarly, the euro was up 0.64% against the greenback at 1.3422 dollar.

This tax will be sitting on their sales-tax at a rate of between 0.08% and 0.12% and is expected to bring nearly 250 million euros, the newspaper said on its website. Electricians (mainly EDF) will pay the third party, says he.

The government source confirmed the creation of this tax and its rates, but not the expected return.

Wednesday the government will introduce the draft budget for 2012 which aims to reduce the public deficit of France to 4.5% of GDP at the end of next year.

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.

Monday morning before the opening of the Tokyo Stock Exchange, the finance ministers and central bankers from the G7 issued a statement in which they pledged to take "all necessary measures" to support financial stability and growth.

They say they are determined to act whenever necessary, to ensure liquidity and support the smooth functioning of markets, financial stability and growth.

They reaffirm "our common interest in the international financial system and our strong and stable support for the exchange rate determined by the market" and stressed that excessive volatility and disorderly movements in exchange rates has negative implications for economic stability and financial.

Previously, the European Central Bank (ECB) announced "actively implement" the bond buyback program to try to stem the debt crisis that has shaken the euro area and threatened to spread Spanish and Italian economies.

Monday before a day of crucial markets, the European financial institution did not specify the countries concerned by this acquisition debt but every indication that this may be obligations of Spain and the Italy.

In a statement issued after a conference call late Sunday, the ECB urged Rome to Madrid and set up as quickly as possible measures of fiscal consolidation recently announced by both countries to try to reassure markets .

"On the basis of these estimates that the ECB will implement an active program of redemption of bonds," wrote the ECB.

The absence of bond buyback of Italy and Spain by the ECB to ease prices has been particularly punished by the markets that have seen the sign of internal divisions harmful.

Markets expect the ECB to see begin on Monday the purchase of government bonds in both countries to stabilize their prices.Interest rates in Italy and Spain in recent days jumped to their highest levels in 14 years.

Monday morning, the IMF praised the response of the ECB and the G7.

BERLIN AND PARIS PRESS

In a joint statement issued Sunday a few hours before the end of the ECB meeting, French President Nicolas Sarkozy and German Chancellor Angela Merkel stressed that "a rapid implementation and complete the measures announced is essential to restore confidence markets."

According to South Korea, a conference call Sunday morning brought together financial officials of the G20, which groups the world's major economies, to discuss the situation caused by tension on the debt in the euro area and lower by Standard & Poor's sovereign rating of the United States.

The G20 and the European Central Bank have been active behind the scenes to assess the consequences of the debt crisis on both sides of the Atlantic, shaking financial markets and fears of a relapse of Western countries into recession .

After heavy turbulence in global financial markets, which have lost about 2.500 billion dollars over the past week, European and American leaders find themselves again forced to reassure investors about the ability and determination of their countries to reduce deficits and public debts.

PANIC IN THE GULF AND ISRAEL

Saudi Stock Exchange, the largest in the Arab world, has faltered on Saturday, falling from 5.5% to a low of five months before showing a small increase of 0.08% at the end of Sunday.

But it was in Tel Aviv that the decline was most pronounced with a fall of 6.99% recorded by the TA-25 index in Israel.The TA-100, wider, has meanwhile shrunk by 7.2%.

An extension of the crisis in Italy or Spain, after the bailouts granted to Greece, Ireland and Portugal, in the eyes of observers would require a strong increase in lending capacity of EFSF, equipped for time of 440 billion euros.

Quoted by the weekly Der Spiegel, the German government experts doubt that Italy could be re-floated by the EFSF even if the fund saw its capacity threefold, because the needs of Rome are in their too great.

United States, the lowering of the sovereign rating has been denounced by the Treasury, which held that the rating agency "forgot" 2000 billion in budget savings in its calculations.

In Washington, an economic adviser to the White House deplored the decision by S & P to degrade the rating of U.S. debt from AAA to AA +, which could ultimately affect all markets by increasing the cost of borrowing and undermining the prospect of sustainable recovery.

Asian allies of the United States, Japan and South Korea have renewed their confidence in U.S. Treasury bills, may lose value.

The U.S. chemical company posted net earnings of $ 1.22 billion, $ 1.29 per share, against $ 1.17 billion, $ 1.26 per share, a year earlier.

Excluding costs related to acquisition of the Danish Danisco, earnings per share were $ 1.37, while analysts had expected $ 1.34, according to Thomson Reuters I / B / E / S.

The turnover of Dupont was up 19% to 10.26 billion dollars against 9.68 billion expected by experts.

To account for the acquisition of Danisco, DuPont raised its forecast earnings per share from a range of 3.65 to 3.85 dollars from 3.90 to 4.05 dollars.Analysts had previously relied on an earnings per share of 3.87 dollars.

"We are revising upward our 2011 earnings forecast on the basis of strong performances since the beginning of the year and the confidence we have in our business plans for the second half of the year," said Ellen Kullman , CEO of Dupont, quoted in a statement.

The good performance of the group turnover was notably the fact that the trade performance of seeds produced by the group as well as strong sales of Kevlar body armor and titanium dioxide pigments used in paints.

The good results of Dupont in contrast to the more mixed publications of its European competitors, like BASF and Bayer.

Casino CEO, Jean-Charles Naouri, said a senior official of the Brazilian government that he would defend the right of the French retailer to increase its stake in Pao de Acucar in June 2012, written O Estado de S.Paulo, citing sources familiar with the situation.

Naouri accuses Abilio Diniz, president of Pao de Acucar and his partner in the dispenser, having secretly negotiated a merger with Carrefour without consent, contrary to his opinion a shareholders' agreement signed in 2005.

Casino has launched arbitration proceedings against two Diniz during the past month.

Naouri also said Luciano Coutinho, the president of the state development bank BNDES, the Casino was "the best partner possible" and that he had never interfered in the management of Pao de Acucar, giving any Diniz latitude to establish its strategy, writes Estado.

BNDES reported last week that it would not mobilize the $ 2.4 billion it had promised for the merger between Grupo Pao de Acucar and Carrefour, unless Casino gives its green light.

Diniz and Casino each hold 50% of the voting rights of the holding Wilkes, which in turn owns 66% of the voting rights of Pao de Acucar.

Wilkes shareholders are scheduled to meet Aug. 2 to discuss the proposed merger.