France announces budget plan, which includes the bulk of which raise government revenues

France announces budget plan, which includes the bulk of which raise government revenues

After one day of Spain Declaration budget plan for 2013 the French government has also announce their own budget plan self period and there is great difference the difference between them and that they were meeting the same goal but differed in the implementation mechanism.

The plan announced by the government today is the first part of fiscal reform steps within the country, budget plan for 2013 primary objective of reducing the budget deficit to 3% from 4.5% for the current year to be up to levels of 0.3% in 2017.

And plan aims to save about 30 billion euros - the financing gap - by raising taxes - which is the largest part of the plan - next to cut public spending in a simple and austerity plan is the largest in three decades.

Raise taxes

According to the French government about the plan to increase public revenues it was decided to raise the high taxes - temporarily - on profits of more than one million euros to 75%, and 45% on profits of more than 150 thousand euros.


Raising taxes will be levied on dividends and returns resulting from investments next stop exemption on capital gains realized from the sale of shares in addition to the cancellation of some temporary tax exemptions.

Also reduce the value of the amount of loan interest paid by companies and which is deducted from the tax base.

Growth

The government is targeting growth of 0.8% by the end of 2013 which was confirmed by French Finance Minister today and that there was some uncertainty in the market towards that in light of what ails France from economic weakness and high unemployment rate to historic levels.

It should be noted that the public debt amounted to 91% of GDP, which is the largest since the period after the Second World War, and the adoption of the government to raise more revenue from public spending cuts have thrown some of the criticism within the country and whether France - second largest economies of the euro zone - are still able to borrow from the market yield little like return on German bonds and levels of just below 2%.

 

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European stocks fell in the middle of the end of the week session

European stocks fell in the middle of the end of the week session

European stocks fell in the middle of today's session after they had opened today's session on a positive and clear after the support that we have seen in the market due to the approval of the Spanish Parliament on the budget in 2013 and focused on reducing the budget deficit and find the reform measures of the economy. , But did not continue this positive day for the intervention of the main stock indices in Europe for red areas especially after the announcement of the general budget 2013 for France.

And more negative we saw after rising borrowing costs on Spain after announcing yesterday's budget in 2013 amid uncertainty surrounding the outlook for future state, has increased yield for 10 years in the secondary market registered 6% and return this revenue to rise to dangerous areas and that put pressure on the state to apply for an external rescue loan.

As of at 08:25 New York time, we have seen how STOXE 600 index achieved a 0.69% decline by 1.89 points to record levels of 279.76 points, the public utilities sector was the biggest loser in the index registered losses of 0.98%.

And the performance was the worst among Aloshen for shares Electrocomponents PLC and after the company announced the possibility decline profits and their realization of the performance of the worst in general, as it dropped the company's shares today rose 11% and was the worst performer since 2005 to share price to reach 196.00 pounds Sterling. And was the best performer in the index shares Air France-KLM, which rose 3.67% to 5.0 euros.

This has landed the German DAX Index rose 0.52% an increase of 37.95 points, its levels 7251.99 points, also fell FTSE100 index of Britain by 0.07% or by 3.84 points, levels 5775.48 points, while the decline in French CAC40 index by 1.23% or by 42.28 recording levels trading at 3396.46 points.

, While the benchmark stock Spaniard main IBEX 35 fastest pace between stock indices Home to decline by 1.36% an increase of 107.55 points, to the index to 7735.30 points and that after the announcement of the state budget in 2013 and high levels of return on bonds Spanish levels above 6%.

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European shares closed higher amid the possibility of more easing from China, and after the Spanish budget

European shares closed higher amid the possibility of more easing from China, and after the Spanish budget

European stocks managed to end the day session Embed green areas amid support the general feeling in the financial markets more probability of easing by the Chinese central bank, which may follow this plan other major central banks such as the U.S. Federal, Central European and Japanese central, Add to that the approval of the Spanish Parliament Budget 2013.

Finally, and Spanish Parliamentary approved budget plan in 2013 after a long wait amid widespread protests by the Spanish streets, refusing to cover anticipated austerity policies of the government under this plan, which aims to reduce the budget deficit Spanish.

May The benchmark index for Europe, the STOXX 600 from closing up 271.65, or 0.34%, whereas the euro zone benchmark index, the STOXX 50 ended up by 0.24% to close at 2552.30 points.

The French CAC 40 Index:

Index climbed 24.48 points or 0.72% to close at 3439.32 points, where the index opened the trading day at 3438.20 points and achieved its highest level at 3447.46 points and a low of 3421.31 points.

The best-performing stocks and a positive day on the index were led by Sanofi SA, which rose 1.80% to close at 68.82 €. Followed by BNP Paribas SA rose 1.50% to close at 37.90 €, while shares rose SA Schneider Electric rose 2.04% to close at 47.83 €.

And on the other hand, fell LVHM Moet Hennessy Louis Vuitton SA rose 1.32% to close at 119.50 €, followed by Unibail-Rodamco SE, which ended at the level of 159.15 €, investigators declined 1.03%, while shares fell PPR by 0.62% to close close at 120.35 €.

German DAX Index:

German shares ended the day at a height to add to the day, the German index about 13.51 points or 0.19%, with the index closing at 7290.02 points, the index opened the day at 7313.15 points and achieved its highest level at 7324.79 and the lowest point at 7268.69 points.

Where the stocks adding the day led by Infineon Technologies AG share, which rose 1.74% to close at 5.02 €, while, followed by Beiersdorf AG, up by 1.39% to close at 57.46 €, while rose Merck KGaA AG rose 1.35% to close at 96.31 €.

And on the other hand, fell Volkswagen AG by 2.12% to close at 143.30 €, followed by Commerzbank AG, which ended at the level of 1.40 €, investigators declined 1.55%, while shares fell HeidelbergCement AG rose 0.88% to close at 41.96 € .

The British FTSE 100 index:

As for the British market, the index ended the main market the day higher by about 11.33 points or 0.20% to close at 5779.42 points, and this may index opened the day at 5768.09 points and achieved its highest level at 5804.09 and the lowest point at 5762.98 point.

Speaking on the stocks adding and positive indicator British today were led by HSBC Holdings PLC rose 1.01% to close at 579.50 £, while, followed by Rio Tinto PLC, up by 1.51% to close at 2884.00 £, while shares rose BHP Billiton PLC by 1.26% to close at 1932.00 £.

And on the other hand, fell Royal Dutch Shell PLC 0.62% to close at 2164.00 £, followed by GlaxoSmithKline PLC, which ended at the level of 1436.50 £, investigators declined 0.55%, while shares fell Tesco PLC 1.29% to close at 335.55 £.

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European region eyes on a test of Spanish banks and French budget plan

European region: eyes on a test of Spanish banks and French budget plan

Budget deficit and rising public debt, one of the most important priorities of European governments at the moment, and why not in a crisis has been going on for three years and does not have access to any radical solution so far in light of the complexity of relations between the countries of the euro zone and thus further complicate the crisis.

The response markets positive after the announcement by Spain budget plan for 2013 yesterday under a plan aimed at providing 13 billion euros to reduce the deficit, which represents one of the objectives the government Rajoy according to a target that is reducing the deficit by the end of fiscal year 2013 to 4.5% from 6.3% for the current year.

In general, the government's plan Spanish depends primarily on reducing public spending without raising general tax rate in the country, and the target within this plan to reduce public spending by about 7.3% and raise government revenues by 4% by raising the value-added tax and the tax on lotteries.

This is the Fifth Plan for austerity by the Spanish government since the outbreak of the crisis, but this time might be in order to pave the way for progress to seek help from international lenders but not at the moment, especially as the government is trying to avoid the application of the conditions of such aid which corresponds to reject popular within Spanish territory.

Pricing investors of the event was positive and what appeared at the end of transactions yesterday on transactions of the euro against the U.S. dollar rose from its lowest level in two weeks, recording the day levels 1.2960, as well as the decline in yield on sovereign bonds Spanish for ten years yesterday to 5.95% from 6.06% during the this week.

However However, this effect may not last long, especially in light of the uncertainty regarding the ability of Spain to achieve the target of the plan in an economy that is still languished in recession.

Is expected to be announced tolerance test banks in Spain later in the day, which is considered one of the conditions for the aid package approved by euro zone countries in June the previous estimated value of 100 billion euros to support the banking sector crumbling in Spain.

France

Today is also expected to play the French government to announce a plan the budget in 2013, with expectations that include the largest public spending cuts since three decades as part of a plan to provide an estimated value of 30 billion euros to reduce the budget deficit.

Plan aimed at reducing the budget deficit to 3% in 2013 from 4.5% for the current year until reaching a final settlement and stable deficit by 2017 this next target growth rate of 0.3% by the end of 2013 which represents a big challenge for the government.

Especially in light of the economic weakness in the country over the last three quarters of quarterly, next to the high unemployment rate to the highest level in 13 years and high levels of 10% and this is what government pledged towards reduced during the current year.

Italy

There is no new on Italy only with respect to statements of Prime Minister "Monty" and that demonstrates an aspect of reasons tarry government to request assistance from international lenders, and from statements made by Monte, the reason of the delay in Spain and Italy in the request for assistance is not clear conditions that may put ECB when you ask for help and activate the bond-buying program. Also see Monte must set limits on intervention of the International Monetary Fund or non-existence of the base in the supervision of financial restructuring.

It is worth mentioning that the ECB may impose conditions to be activated bond-buying program to state what this next development of the International Monetary Fund as a technical assistant to the supervision and control on the progress made in the State which has requested assistance.

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Declining confidence in the euro zone to a worse than expected and why the sovereign debt crisis!

Declining confidence in the euro zone to a worse than expected and why the sovereign debt crisis!
Business climate index in the euro area during September to record the level of -1.34 for the worst of expectations comes to the value of -1.20, while the previous reading was amended to -1.18 from -1.21.
And as well as the confidence index fell in the economy in the same period to score 85.0 from 86.1 the previous reading and expectations.
And did not change the final reading of consumer confidence in September / expectations and preliminary reading went down to keep the value of -25.9 and was worse than the previous month's reading of the value of -24.6.
Confidence in the industry fell to -16.1 from -15.4 to the revised previous reading while a worse-than-expected value of -15.0, while confidence in services fell to -12.0 from -10.8 the previous reading.
It is not strange to see declining levels of confidence in the euro zone, especially in light of the uncertainty and lack of clarity as to how to find a radical solution to the sovereign debt crisis in the region, and although the European Central Bank to announce purchase program sovereign bonds to lower borrowing costs for countries with financial distress in the region but it was not enough to reassure the markets and boost the confidence level.
Overall situation is uncomfortable, Spain is still stalling on request international assistance, and Italy on the same platform while experiencing Greece from political pressure and external and undergo pressure from international lenders to provide plans austerity convincing until facilitate access to packages remaining aid.
The economic situation is not satisfactory at all and can have the most impact on confidence is weak labor market, the unemployment rate worse record level by 11.3% in August / August and was the highest since the European currency consolidated, the direction governments to austerity policies were a contributing factor in the occurrence and Back the European economy into deeper recession.
Euro-Zone economies seventeen achieved a contraction of -0.2% in the second quarter and forecasts indicate the possibility of continued weakness until the second quarter and thus enter into formal recession. This comes in parallel with the European Bank forecasts consistently twice the pace of growth during the current year.
Bank in his latest report has modified its forecast for growth for the worse in terms pointed to the possibility of check a contraction of -0.4% and worse than it was expected in June / last June to achieve a contraction of -0.1% for the year 2012.

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Decline in consumer prices in Japan in conjunction with the fall in industrial production during August may accelerate give new monetary stimulus

Decline in consumer prices in Japan in conjunction with the fall in industrial production during August may accelerate give new monetary stimulus

Achieved consumer prices in Japan fell during August to near ratio expectations, which increases the crisis, the Japanese economy in the inability to achieve the inflation target for this year, which is supposed to up to 1%, accompanied by a drop in industrial production also during August, which could precipitate by giving more of monetary stimulus by the Bank of Japan in the coming period.

Released by Japan's economy annual consumer price data through August where it came from registered a decline of 0.4%, compared with the previous recorded a decline of 0.4% while expectations indicated a 0.5% decline. Also issued annual household spending data through August where it came from registered 1.8%, compared with the previous recorded an increase of 1.7% while expectations indicated a 1.1% rise.

Here is clear from the decline in household spending impact on consumer prices as Japan from countries that depend heavily on domestic spending levels unlike China, for example, focused its total dependence on exports to boost growth rates.

Released by Japan's economy industrial production data for the month of August, where he was recording a decline of 1.3%, compared with the previous recorded a decline of 1.0% while expectations indicated a 0.5% decline.

Also issued annual industrial production data through August, where he was recording a decline of 4.3%, compared with the previous recorded a decline of 0.8%, while forecasts indicated a 3.4% decline.

Note here decline of industrial production by more than expected as well as decline in retail trade also during August by 1.5%, which puts Japan's economy is in trouble due to the deterioration rates of important economic in the country so expect that the coming period could see stimulus cash by the Japanese central bank to push the economic recovery.

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Decline durable goods orders in the United States of America

Decline durable goods orders in the United States of America

Released from the U.S. economy reading index requests durable goods for the month of August / August by -13.2% compared to 3.3%, which was amended from 4.2% in the previous reading for the month of July, and so is the current reading is worse than analysts' forecasts, which pointed to the proportion -5.0%.

As for reading index requests durable goods excluding transportation in the same month came by -1.6% compared to -1.3%, which amended the rate of -0.4% in the previous reading for the month of July, and so is the current reading is also worse than analysts' forecasts that referred to 0.2 %.

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Fell U.S. weekly jobless claims exceed expectations

Fell U.S. weekly jobless claims exceed expectations
Released from the U.S. economy reading jobless claims for the week ending 22 September / Sept. estimated 359 thousand request compared to 382 thousand request and amended from about 385 in the previous reading, and so is the current reading is better than analysts' forecasts, which pointed to some 375 thousand request.
Also released also read jobless claims continued for the week ending 15 September / Sept. estimated 3271 thousand request compared to 3275 thousand request and amended from about 3272 in the previous reading, and so is the current reading is also better than analysts' forecasts, which pointed to some 3288 thousand request.

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Asian stocks experiencing fluctuating between gains and losses Fbl the end of the quarter

Asian stocks experiencing fluctuating between gains and losses Fbl the end of the quarter

Managed most Asian equity indices to end the last week in the third quarter on a high, after the optimism that a solution on the market after Spain agreed to abide plan austerity which could help the state to avoid falling into a spiral of debt as well as providing some support to the crisis in Europe.

On the other hand Japanese stocks closed lower after the release of a number of conflicting economic data, prompting investors to abandon Japanese stocks and increase demand for the Japanese yen.

This The MSCI index of Asian shares rose 0.2% to 122.78 in Tokyo, to complement this index as long as monthly rise since June.

On the other hand Chinese stock index continued to rise after news of hesitation the Chinese central bank to inject a greater amount of cash in its history in one week which has increased the demand for Chinese stocks before they enter the Chinese financial markets on holiday for a week.

Down Japan's Nikkei 225 index rose 0.89% to 8870.16, while the Topix index fell 1.10% to 737.42 level.

Hang Seng index rose in Hong Kong rose 0.38% to 20830.38 level, and CSI 300 index rose 1.84% to 2293.11 level.

Index S & P / Australian rose by 0.06% to 4387.02 level. New Zealand's NZX 50 Index rose 0.66% to 3834.15. Kospi Index in South Korea rose by 0.38% to 1996.21 level. BSE Sensex 30 Index in India rose by 1.23% to 18808.69 at the time of writing the report. Taiwan Taiwan Taiex Index rose 0.41% to 7715.16 level.

FTSE Straits Times Index of Singapore rose by 0.02% at 3060.21. In Thailand index rose SE Thai by 0.96% to 1298.41 level yet. Index FTSE Bursa Malaysia KLCI Malaysian up 0.43% at 1636.13. Jakarta Composite Index rose 0.37% to 4241.25 level. Index PSEI in the Philippines rose by 0.84% ​​and closed at 5346.10.

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A summary of the day's events such as the Asian session: improved European and U.S. equities today along with the recovery of commodity

A summary of the day's events such as the Asian session: improved European and U.S. equities today along with the recovery of commodity

Preparing financial markets for the reception of the Asian session with an open mind after days was doing some positive, but this does not negate the fact weakening U.S. economy and the continued uncertainty control European Sky despite the fact that Spain disclose its budget for the year 2013 and their willingness to establish an independent body to monitor government spending.

And review of the most important events and data that we have seen in this day record, Bmcunnina start in the United States, which foiled investors in general and published panic them to wonder whether the stimulus program quantitative Third Bank U.S. Federal enough to support the economy, which is facing many difficulties and challenges that are in large labor sector and the housing sector.

Dawn of the U.S. economy Thursday unpleasant surprise markets by announcing the third reading of the GDP and for the second quarter, growing U.S. economy during the second quarter by 1.3 percent only, compared with the previous reading, which amounted to 1.7 percent, and lower than expectations, which amounted to 1.7% .

Where he managed the economy from growth of 1.3% during the second quarter of this year as we have said, while adjusted Commerce Department read personal spending to 1.5%, compared with the previous and projected at 1.7%, while proved the third reading of the GDP at current prices for the quarter second at levels of 1.6%, compared with the previous reading, which amounted to 1.6%, and the conformity with expectations.

 As for the matter of Europe, after a long wait and hope for the budget Spanish in 2013, the government and parliament today to approve this budget, which still worries big for the hearts of investors who overwhelmed them uncertainty in the previous period prior announcement this budget, especially amid widespread protests taking place Spanish streets rejection of this budget.

Parliament approved the Spanish eventually on the state budget for 2013, after waiting for the global financial markets eagerly for the parliament's decision Alospaina toward those of the budget that includes plans austerity has resulted in Thousands of people demonstrated in the streets Spanish protest it, this will be revealed details on Friday with detection solvency test results for Spanish banks.

It is worth mentioning that the Deputy Prime Minister of Spain has pointed to the fact that the overall budget for the coming year include the reduction about 12% of government spending, it also includes a wage freeze in the public sector for the third year in a row, otherwise the Spanish parliament passed also create a new body independent of the order interest in the financial affairs of the government and control of funds carefully, knowing that pensions will be increased by about 3 billion euros from the reserve.

Then came the announcement of the Spanish budget to save financial markets from the confidence of others encouraging data finally issued by the euro zone, which showed a continued decline in the levels of confidence in the region amid fear of investors and consumers due to the continuity of worsening sovereign debt crisis and the weakness of the economy in general.

Business climate index in the euro area during September to record the level of -1.34 for the worst of expectations comes to the value of -1.20, as the index of confidence in the economy in the same period to score 85.0 from 86.1 the previous reading and expectations.

And did not change the final reading of consumer confidence in September / expectations and preliminary reading went down to keep the value of -25.9 and was worse than the previous month's reading of the value of -24.6. Confidence in the industry fell to -16.1 from -15.4 to the revised previous reading while a worse-than-expected value of -15.0, while confidence in services fell to -12.0 from -10.8 the previous reading.

In general, it is not strange to see declining levels of confidence in the euro zone, especially in light of the uncertainty and lack of clarity as to how to find a radical solution to the sovereign debt crisis in the region, and although the European Central Bank to announce purchase program sovereign bonds to reduce the cost of borrowing for countries with financial distress in the region but it was not enough to reassure the markets and boost the confidence level.

This has European stocks managed to end the day session within the areas of green amid improved sentiment in financial markets more probability of easing by the Chinese central bank, which may follow this plan other major central banks such as the U.S. Federal, Central European and Japanese central, Add to that approval Spanish Parliament on the budget for 2013 and the factors that we have mentioned.

The benchmark index for European markets the STOXX 600 ended higher to 271.65 by 0.34%, and whereas the euro zone benchmark index STOXX 50 ended up by 0.24% to close at 2552.30 points, in addition to all equity indices main achieved Mkaspa a good day After losses at the start of the European session.

This was for this data a significant positive impact on U.S. stocks ignored bad U.S. data that showed a slower pace of growth in the world's largest economy, U.S. stocks to interact with the developments that have taken place in Europe, marking the yet Mkaspa.

Trading as U.S. stocks such as closed in the green areas, Vmacher Dow Jones rises so far by 0.66% as of at 15:42 New York time and surpassed the S & P 500 rose 1.03% as of time 15:28 New York time. Nasdaq rises 1.47%.

It is expected to open Asian equity indices its shortly after the positive and clear coming from Europe as noted, and from China mainly amid speculation that the more stimulation and facilitation of its economy, which will help stock indices to achieve profits in today's session complementing its whole episode after high European and U.S. stocks.

As we have seen improvement in commodity markets, especially gold, which is the best safe haven in the market, which benefited and crude oil counterpart after the significant decline in the price of the U.S. dollar against a basket of foreign currencies after the bad performance of the economy and the power that won both the euro and the pound after European developments and improved performance of the UK economy slightly.

Ascended crude oil today from the opening level at 90.11 dollars a barrel to achieve the highest levels so far at 92.37 dollars a barrel and that after he had arrived minimum levels the day at 89.87 dollars a barrel, and as is the case for gold, which rose from the opening level at 1753.28 dollars an ounce to reach its highest level so far at $ 1779.92 an ounce and that, having achieved the lowest levels of the day at $ 1751.01 an ounce.

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