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 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.

This week has the distinction of being a shortened session on Thursday is a public holiday in the United States where we celebrate the Thanksgiving holiday, which should result in reduced volumes.

The spotlight will be on Monday in Washington, where 12 members of the "super-committee" Parliamentary expected fiscal consolidation to make public their proposals Monday before the vote on November 23.

The latest negotiations skating at the risk of a new block.Now it supports more austerity measures, which may satisfy the investors.

A RALLY POSSIBLE?

The S & P 500 yielded 3.8% over the last five session, ending the week Friday night's most mediocre in two months.

"Bringing France to a system that works", "max out of Germany" … Yesterday, in his television interview, President Nicolas Sarkozy has once again praised the German economic success and the interest that France would have to be inspired.Henrik Uterwedde, deputy director of the Franco-German Institute in Ludwigsburg, analysis for expansion. Com fascination of French politicians for our neighbors.

How to interpret the willingness yesterday by Nicolas Sarkozy to "bring together the French and German economies"?

Henrik Uterwedde: I hear the speech, I wait for the acts, because this question is asked repeatedly by French politicians. In the 1970s, already, the president Valery Giscard d'Estaing had made the statement that Germany had more resilient to oil price shocks than France, and that, therefore, be based on the German model. But it was especially for the then government to denounce the behavior of unions and to better accept the French policy of fiscal restraint.We find ourselves a bit in the same situation today: the idea of ​​convergence is exploited for domestic policy.

In terms of unemployment, growth, public finances, Germany displays much better than France. Have we still not reasons to get closer to the German model?

Yes on the thoroughness, a word too long banned in France … However, each country has its own peculiarities, and it is difficult to translate the policies of the neighbor. We can watch what is happening elsewhere, but everyone must then find its way. Just look at the weight of SMEs in the economy, which is a major difference between France and Germany. The strength of our "Mittelstand", this network of small and medium enterprises, largely explains our export performance.

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.

François Hollande is widely considered more credible than its rival in the primary Martine Aubry on economic issues, according to a BVA poll showed that these two socialist leaders outweigh Nicolas Sarkozy to manage the crisis.

According to this opinion poll conducted for BFMTV BFM Challenge.fr and Business, published Wednesday, before the last debate between six candidates broadcasting the primary member for Corrèze is considered much more credible than the mayor of Lille for growth economic (60% against 22% and 18% not ruling).

Ditto for the debt (59% against 23% and 18% NSQ), taxes (55% against 27% and 18% Aubry NSP) and the purchasing power (50% to him 32% to her, 18% undecided). Domination yet Mr. Holland to the fight against unemployment (48% against 34% in Aubry (18% NSP).

The latter prevails, however, by 45% against 37% (18% NSP) regarding the fight against poverty and insecurity. If a financial crisis "of the magnitude of 2008" is declared, the French are much more confidence to deal with, the two socialist leaders as outgoing president: 54% Netherlands, 39% against Sarkozy (7% DK), 50% against 42% Aubry Sarkozy (8% DK).

A huge majority, the French are "somewhat less confident" in September to face the economic situation: 82% against 17% of an opposite view. There were only 65% ​​rather less confident about a month ago.

Survey by telephone and internet on 29 and 30 September 1215 from people aged 15 and over (representative sample, quota method).

Greek Prime Minister George Papandreou would meet with French President Nicolas Sarkozy in Paris on Friday to discuss the plan to end the crisis, said on Thursday a source close to the case in Athens. France is one of the main funders of Greece, with Germany, which was Tuesday Papandreou, who met with Chancellor Angela Merkel. The Chancellor said it was awaiting the findings of the audit conducted by the troika of the country's creditors, representatives of the EU, the ECB and IMF, who arrived Thursday in Athens to whether there should or not renegotiate the terms of the second international aid plan decided on July 21 in Brussels by the euro area.

"Should we renegotiate, or not renegotiate? We would prefer of course that the figures remain unchanged, but I can not predict (the outcome of) the troika," said German Chancellor Wednesday in an interview with Greek state television NET . "We were obviously disappointed that apparently the numbers (the Greek budget deficit, Ed) in September were not as they should be. So we must wait and see what conclusions the troika arrives, the mission experts, what it tells us, "said Merkel.

For its part, the French Minister of Economy, Baroin said Wednesday evening that there was "no alternative" to the background, being ratified in several countries in Europe. "We have a plan" and "yes, France will continue to support the strategy of support" to a partner in the euro area, saidBaroin to the public television channel France 2. "This is the only strategy," he said. "There is no alternative to the declination of the agreement of July 21" and "there is no alternative to the implementation" of the European emergency fund, the EFSF, he said.

The plan, according to the French minister, will "ensure and support measures over time and measures to prevent contagion in large countries such as Spain and Italy." The European Agreement of 21 July expanded the toolbox of EFSF, which was established in 2010 to help countries in financial difficulty.It provides support some 160 billion euros to Greece to avoid bankruptcy, and most importantly, for the first time, the involvement of private banks in the rescue process, which agreed to voluntarily participate in an exchange program bonds when they lose 21% of their implementation, to avoid losing everything in case of bankruptcy of the country. Heads of Mission of the troika comprising the three main creditors of the countries (EU, IMF and ECB) are scheduled to resume Thursday in Athens their audit of the accounts of Greece after almost a month break.

Against the backdrop of the debt crisis, the activity of services in the euro area, representing about two-thirds of the economy of the 17 countries using the euro, fell into contraction in September for the first time in two years, according a flash estimate published by Markit.

The index of manufacturing it has continued to decline for the second consecutive month, following the lead of HSBC PMI index of Chinese industry, reflecting a narrowing of the event for the third consecutive month.

By mid-day, European stock markets were digging their losses, also depressed by the bleak diagnosis of the Federal Reserve on the U.S. economy.

"There is a global slowdown (…), the Fed took note of yesterday (Wednesday), and the Bank of England raised the possibility of a new round of quantitative easing," notes Lolay Jeavons, responsible research world at Lloyds Banking Group.

"There is no doubt that the risks of a global recession have increased."

The services index in the euro area stood at 49.1 after 51.5 in August, while analysts on average expected a 51.0 index.Manufacturing activity has contracted it to 48.4 against 48.5 expected and 49.0 in August.

"The numbers are consistent with continued growth in gross domestic product (GDP), so it does not show even a recession," said Martin Enlund of Handelsbanken.

GOVERNMENT CALLED TO ACTION

"That said, (…) the credit crunch in the euro area could lead to another recession by Christmas if governments do not act quickly and vigorously."

Tuesday, the International Monetary Fund (IMF) has warned Europe and the United States against the threat of a relapse into recession next year because of rapidly addressing economic problems that could contaminate the rest of world.

The European Central Bank (ECB), which was the first major central bank to raise rates after the financial crisis, may have to lower them again in the near future, especially as anti-inflation rhetoric has subsided with the decline in price pressures.

"Under these conditions, the ECB could cut the refi rate to 1% by the end of the year," Judge Clemente De Lucia, an economist BNP Paribas.

In Germany, driving the economy of the euro area, the private sector activity in September rose at its slowest pace in over two years and new orders declined for the third consecutive month.

The composite PMI, which includes industry and services, stood at 50.8 version of "flash", its lowest level since July 2009, against 51.3 in August.

"We could see very little growth (of German GDP) in the third quarter and perhaps even a contraction in the fourth," warns Chris Williamson, economist at Markit.

"A BAD NUMBER OF GDP TO PROFILE" IN FRANCE

Moreover, the growth of private sector activity in France in September fell to its lowest level since the beginning of the recovery in 2009, accentuated the decline in the industry while expanding services was weakening.

The composite PMI fell to 50.7 in version of "flash" against 53.7 the previous month.

"The results of the PMI for the entire third quarter involve a considerable loss of the underlying dynamics of the French economy, which means a bad figure for quarterly GDP growth is emerging from stagnation in the second quarter" said Jack Kennedy, senior economist at Markit, which links with the escalating debt crisis in the eurozone.

In China, HSBC index of purchasing managers in the manufacturing sector fell to 49.4 this month, against 49.9 in August, the third consecutive month that figure below 50 points , which separates expansion and contraction.

The contraction in manufacturing activity, against a background of decline in new orders and new export orders suggests that the second largest economy in the world will perhaps not a replacement locomotive to address the "continuing weakness" found Fed by the United States.

Economists and Chinese leaders expected that the country's growth slowing, largely because of declining exports.

"The export sector seems increasingly threatened since the global fundamentals are reeling," said Connie Tse, an economist at FORECAST in Singapore.

But even if the prospects darken abroad, domestic demand should continue to maintain growth in China over 8%, even if it fuels inflation and may complicate the task of the Chinese central bank to contain rising prices without undermining activity.

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.