After the glove of horsehair brush the South

If the spectacle offered by finance expensive cost the world economy two years ago, it still recognize the virtuosity of its artists. At the root of the growing mysteriously disappeared in the chapeau of the "subprime" now succeeds the huge release of chains of toxic assets, hands tied in the back by State subsidies. It would certainly be wrong to refuse the first rise in net earnings per share of JPMorgan Chase one quarter to the other since June 2007 to return to the benefits of Goldman Sachs, after four months of losses, the periods of the year 2005. But this magic of quarterly accounts its behind the scenes, and his magicians there walk on a single toe, the trading market rates, exchange rates and raw materials. At JP Morgan, the record of revenues from the Investment Bank exceeds thus a third previous Summit which was for two years and is based essentially on the tenfold increase in this trade in particular. It reported at Goldman Sachs in almost three months the entire fiscal year 2008 revenues double. The dividends can increase that once banks have paid Uncle Sam, their shareholders were, for once, interest that the illusion continues to operate.

The foil of Breton

Voluntarism which Thierry Breton was his trademark is not necessarily a defect. The man who has "energized" France Telecom had similarly inscribed at the top of its agenda the debt reduction in settling in Bercy. In Atos Origin, re-offend, announcing in February an ambitious three-year programme of Government, named TOP in all simplicity. Despite a crisis consider "long and hard", it has on the strengthening of the integration of a very heterogeneous group to improve its margin of 0.5 to 1 this year, all by providing a drop of about 2 of its growth. In view of its quarterly turnover, the battle appears to be well underway. The decline in growth limited to 0.6 pleasantly surprised a market also reassured by catches of equivalent to 1.4 year of activity commands. Decrease in debt and outsourcing activities which have played their role of damper completed convince propel some 4 a title that has already won more than 30 since the beginning of the year. Performance compared to the decline of 5.4 of the CAC 40 and 4.5 of Capgemini. Giving a bonus of 10 on its sector to Atos, the stock market shows his confidence. The group whose profitability remains less than half that of Capgemini knows that, to keep it, it cannot simply speckled bits.

Finnish message

The Finnish message above the massage, Nokia knows something. Each of its ads to market 15 months is accompanied by violent friction of his scholarship course. Even in the country of the sauna, he is remembered for the hot and cold that have étrillé the title without always good reasons in January ( 14), in April ( 13.6), in October 2008 ( 10) or more recently in January 2009 ( 9). Publication of quarterly results from Finnish Herald yesterday did not depart with a 9 jump even though it is difficult to understand how the announcement of a fall of 90 of the net profit of the first loss before tax in the history of the Group and a 19 of its sales slump could trigger such enthusiasm. In fact the temperature change is not yesterday. Investors already seemed regret their excesses of rigor who had been diving action from 35 in the first two months of the year, making him regain since 45 of its value. No doubt, they realized that the owner of 40 of the world market was probably best placed to take advantage this of a same game difficult. The confirmed them by showing prospects of attractive margins and the stabilization of its share of the market of "smartphones". After the glove of horsehair brush the South.