"In the second half, the impact on the luxury industry of the economic challenges the world faces and the high comparison base to which the measure group sales we suggest caution," said Johann Rupert, the chairman CEO of world number two luxury.

"Given the performance achieved to date, and despite these challenges, the operating profit of the year should be significantly higher than that of 2010-2011," he added.

Even as Richemont is known for prudent forecasting, these words echo the comments of all other major luxury groups, which have recently published quarterly defying the economic crisis.

Last week, the leather Hermes said he was hampered in its growth by its production capacity which does not allow it to meet demand, given the popularity of its handbags and famous silk scarves.

Mid-October, LVMH had also published quarterly strong despite the vagaries of the economy.

In interviews granted to the German newspaper Bild am Sonntag, and French Le Monde, one that will yield the first Tuesday in November to place Mario Draghi said, however, confident in the ability of governments in the euro area to restore financial stability.

According to him, this requires that the Stability Pact is comprehensive and is implemented in a manner vigorous.

The agreement reached in Brussels this week by the leaders of the European Union should enter in his facts very accurately and quickly.Now the hard work waiting for governments and the European Commission, "he insists.

"A rapid and full implementation of decisions is now absolutely crucial," said he.

This could derail the hostile bid launched by Cameco Corp. of Hathor.

The Board of Hathor has recommended that shareholders accept the offer of Rio Tinto, which amounts to 4.15 Canadian dollars per share. Cameco is only that of 3.75 Canadian dollars per share.

The aim of the maneuver is the exploration project "Roughrider", located in the Athabasca region of the Canadian province of Saskatchewan.

The listing title Hathor was suspended Wednesday morning at the Toronto Stock Exchange.The title Cameco, the first Canadian producer of uranium, was down 3.21% to 20.80 Canadian dollars to 3:20 p.m. GMT, while the action listed Rio Tinto in London declined by 1.09% within minutes of the fence.

Richard Sulik, 43, head of the unicameral Parliament of Slovakia and Freedom and Solidarity Party ("SAS"), is an ultra-liberal economist torpedo approval Bratislava strengthening the European Relief Fund (EFSF). According to the founder of the party in 2009 SaS, the EFSF is "a road to socialism."

In 2010, the party enters with great fanfare the Government, through its platform advocating fiscal consolidation, privatization, the legalization of same-sex couples and the decriminalization of marijuana. At the initiative of the man with glasses, bald and of medium size, a referendum is held three months after the election, focusing on the immunity of deputies, the privileges of politicians and use by these luxury cars.

But future historians may recall in particular the month of October 2011, when Richard Sulik has torpedoed the European security, to help indebted countries in the euro area. "We are witnessing an attempt to resolve the debt crisis with even more debt.It's as if someone was trying to extinguish a fire with a fan, "he recently told AFP.

The Slovaks are too poor to pay for the mistakes of others, he repeats often. The future "executioner" of the European bailout fund was born January 12, 1968 in Bratislava, in a family that emigrated twelve years later in West Germany at the time. Passion for economics and physics, he completed his university studies in Munich. In 1991, two years after the "Velvet Revolution" anti-communism in the former Czechoslovakia split amicably in the Czech Republic and Slovakia in 1993, he returned to his homeland to go into business.

For ten years he led his company FaxCOPY.In 2003 he graduated from the Economic University in Bratislava, before appearing shortly after one of the authors of a radical tax reform introducing a flat tax (flat tax) of 19%. In 2005-06, he was advisor to the Minister of Labour and Social Affairs, a Christian Democrat named Iveta Radicova, future Prime Minister. In 2006-07, he served as advisor to the then finance minister, Jan POČIATEK.

Unconditional cigars, Richard Sulik is often pilloried for his little formal clothing. Even as head of Parliament, it is often the tie. Richard Sulik, who speaks German and English, is divorced. He is the father of four children with his former wife and her current companion.

The pan-European FTSEurofirst 300 index yielded 2.68 and the Eurostoxx 50 was unscrewed from 2.21%. In Paris the CAC 40 ended down 2.61% to 2850.55 points.

The London Stock Exchange fell 2.58%, that of 2.98% in Frankfurt and Milan instead of 2.72%.

"The markets are nervous because a lot of political uncertainty.As long as no solution has been found to the situation in Greece, the context will remain difficult, "Judge Klaus Wiener, chief economist of Generali Investments.

Cyclical stocks were particularly hard hit, always burdened by concerns about a possible relapse into recession. The European automotive sector dropped 6.21%, largest decline sector, and those of construction and banks have lost both about 4%.

In addition, the banking sector is dragged down by Dexia, which lost up to 38% in session to finish down by 22.46%.France and Belgium flew to the rescue of the Franco-Belgian bank Tuesday while script for a dismantling of the facility, weakened by the financial crisis and in particular its exposure to Greece, is gaining credibility.

At 9:15, the CAC 40 was down 2.92% at 2894.91 points, starting the last quarter backwards, after falling 25% in the third quarter, its largest quarterly decline since 2002.

Other major European markets, London lost 2.53%, 3.5% and Frankfurt Milan 2.4%. Of the European indices, the EuroStoxx 50 and yields 2.7% Eurofirst 300 lost 2.3%.

The European banking stocks index drops 3.5% and 4.5% the car.

In case of extraordinary event, the public support mechanism used in France in 2008 is in place, says Christian Noyer, a member of the Board of Governors of the European Central Bank (ECB).

Several major banks in the world, including major French institutions, saw their market value melted in recent weeks as fears grew of deepening crisis of public debts in the euro area.

"There is no plan.And besides we do not need, "said Christian Noyer, when asked about a possible support mechanism examined by the French authorities.

"The only thing that exists is the mechanism 2008 of a public company may purchase securities in the capital of banks if they express a need," he says.

"So if there was an extraordinary event, this mechanism is in place."

To address the financial crisis following the collapse of U.S. bank Lehman Brothers, the French government established in the fall of 2008 a plan to help the banking sector by mobilizing a budget of 360 billion euros, including 40 billion to build equity and 320 billion to help banks refinance themselves via the Company's financing of the French economy (SFEF).

Christian Noyer said he has asked banks to speed up the process of strengthening their capital of schedule III of Basel, the international agreement designed to make banks more resilient."They will be ready by 2013," he said.

French banks "are very strong," repeated the governor of the Banque de France, "none cache of toxic assets."

"We know they can cope with risk less than a Greek half of profits," he says. "For other countries such as Italy, the risk seems totally excluded."

The crisis of sovereign debt continues to weigh on European shares and heckle banking stocks, particularly the French – the most exposed to Italy and Greece, two countries that capture these days the attention of market.

The CAC 40 index lost 1.62% to 2935.82 points, after rising 1.5% Tuesday in closing.

London has yielded 1.4%, 2.47% Frankfurt, Milan 1.65%.The index Pan-European Euro Stoxx 50 lost 1.96%.

European banks, including the French, have been buffeted in the red and the green at the mercy of rumors, including whether or not to recapitalize, and news about the crisis in the area.

The Stoxx European banks index ended down 1.6%.

In Paris, BNP Paribas has finally dropped 1.85% after gaining over 2% in the afternoon.Societe Generale, having also made the yoyo, ended in the red (-1.28%) as well as Credit Agricole (-2.38%).

Many professionals emphasize the link of "inbreeding" among European banks and the debt of the euro area and say that as governments will not put out a general settlement plan, financial stocks continue to suffer.

"So things are moving in all directions according to rumors," said a vendor noting the "fragility" of the market.

In this context of flight to quality, Germany awarded for the first time in its history of Bund 10 years at an average rate below 2%.

The performance of the Bund, part of the euro area, the market remained unchanged at 1.77% and that of the French OAT maturing as well, to 2.62%.

The euro gained ground and was trading late in the day around 1.3723 against the dollar around 1.3675 this morning.

In Paris, Alcatel-Lucent (0.85%) was the only value of the CAC 40 to finish in the green while cyclical as PSA (-5.70%) and Vallourec (-4.61%) suffered the largest declines in the index.

In early trade, the Dow was stable (0.04%) to 11,406 points.The Standard & Poor's also (-0.01%) to 1204 points while the Nasdaq composite fell by 0.1% to 2610 points.

The Federal Reserve, which meets Tuesday and Wednesday, is expected to announce steps to further lower the long-term rates by changing its own bond portfolio.

Wall Street has little else to move, in the absence of outside major indicator of housing starts, or major corporate earnings.

The housing starts fell more than expected in August, falling 5% to a seasonally adjusted pace of 571,000 units, according to the Commerce Department (consensus: 590,000 units).

Markets on both sides of the Atlantic do not seem overly unsettled by the decline of Italy by rating agency Standard & Poor's, a decision yet unexpectedly revives the specter of a contagion of debt crisis in the eurozone.

Values, Xilinx lost 2.38% at the opening. The programmable chip maker cut its revenue forecast for the second quarter due to the sluggishness of some of its markets.