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A project funded by ANR Pericles was launchedBefore you make a shade of size this is marginal accumulate and shall be applied on the durationBut next year the first will generate 7on the undueness or not the operation in questionRallies and markets the Turkey is FloresA poll whose result has national implicationsWith this oxygen for example could buy Toyota5 million households who do not have ADSLThe reign of the shareholders has just begunBetween a rapid recovery in the global economy and depression of the type of 1929, many other scenarios are possible. Stock markets have become aware, who pass in review and evaluate their plausibility over the weeks. They adopted a more cautious stance after their gains weeks past and prior to important figures. On the week, the Paris stock exchange thus increased by 0.35 and London from 1.54 while Frankfurt remained stable. Across the Atlantic, the Dow Jones dropped 0.68 while the Nasdaq gained 1.27.
Stock markets begin week generally poorly. They are regularly in the Monday blues. A particularly marked seasonal phenomenon since early 2009 and who sees stock drop early in the week. "Monday marks the return of the work week and coincided with a negative mood access, confirmed by psychological tests." "Since the 1980s, many studies carried out in many markets (shares, bonds...) showed significant differences yields according to the days of the week, including yields higher from Wednesday to Friday and much lower, or even negative, the first day of the week", explains Dr. Mickaël Mangot (1), specialist in behavioral finance.
The role of the United States
Today, no major statistics should in any case come unduly disrupt the investors. They come well enough soon. Indeed, as early as Wednesday, in the euro area, these are the figures to the confidence of households and the climate for business in April which will be followed while overseas, the first estimate of gross domestic product in the first quarter growth will be delivered to the market. A good test for the movement of stock recovery. The consensus table on a decline of the order of 5 of U.S. GDP in annualized variation, after 6.9 in the fourth quarter of 2008. At the weekend, the consumption of households in March, expected decline of 0.1 after 0.2 in February, will also be at the centre of attention. In this regard, many see in recovery across the Atlantic a prerequisite to an out of the crisis or, at least, a strong signal sent to the rest of the world.
The Director-General of the international monetary Fund (IMF), Dominique Strauss-Kahn, estimated last week that the crisis is "far from complete" and that the recovery will come from the United States. Indeed, it is common to see in the main engine of the global economy. A role of leadership and influence that would go well beyond their weight in world trade. Two economists of the European Central Bank (ECB), Stéphane Dées and Arthur Saint-Guilhem, have revisited this issue (2). It appears that the impact of the US growth than other countries, which remains strong, was recently reduced. However, its effects are felt long about two years in the euro area, for example, against less than a year in the 1980s. This is a sign that "the increase in trade and financial integration could have strengthened the transmission of shocks". Driven American disorder born of the "sub-prime" in the crisis, Europe and the rest of the world now risk of having to stay in purgatory longer than expected before sketch a true recovery.
