The Dow Jones lost 1.13% or 134.86 points at 11,770.73 points, while the Standard & Poor's 500, the reference fund managers, gave up 1.68% or 20.78 points to 1,216 , 13 points. The Nasdaq Composite fell 1.96% or 51.62 points to 2587.99 points.

There was no very obvious trigger for this downturn.

"There is progress," he said on his arrival in Brussels where he will hold talks with German Chancellor Angela Merkel began Sunday when the European Council considered a challenge for the future of economic and monetary union.

"By Wednesday (when a second Council, ed), we must find a solution, a structural solution, an ambitious solution, a final solution, there is no choice," he said when he arrived at the headquarters of the European Council.

Asked if he was confident in the outcome of discussions, the president replied: "Yes, otherwise I would not be here."

The CAC 40 index ended down 4.73% at 2999.54 points, its lowest since July 10, 2009 (final closing)

The CAC 40 index closed up 0.18% to 3159.74 points."That said, it's half a surprise, in a very anxiety provoking," he adds.

Other major European markets, London closed Monday, rose 2.7%, while Frankfurt lost 0.46% and 0.23% Milan sold.EuroStoxx 50 index ended on a note stable (-0.01%).

FEAR OF A NEW CORRECTION

The market had already gone into the red by late morning after a sharper than expected deterioration in economic sentiment in the euro zone in August.

However, most stakeholders interviewed believe that the market consolidates further, in a climate of expectation after the shock downward in early August and before the employment statistics in the United States to be published Friday.

"It is a market without enthusiasm, which is still afraid of a correction, market pure waiting, with U.S. unemployment figures Friday in focus," said Frederic Rozier, manager at Meeschaert Private.

The bank ended up in a piecemeal, between the positive impact of bank mergers and EFG Greek Alpha and a letter from the International Accounting Standards Board (IASB) issuing criticism of the methods used by some institutions to add value and move impairments on the securities of government debt..

Societe Generale lost 0.2% to 22.055 euros and Credit Agricole 6.568% to 1.01 euros, while BNP Paribas gained 0.99% to 34.735 euros.

Mining stocks, however, remained well oriented throughout the session, the index increasing by 4.04%, supported by the agreement between ArcelorMittal (1.81% to 14.610 euros), Peabody Energy and Macarthur Coal on the terms of the acquisition of Australian specialist pulverized coal.

In the bond market, the auction of government bonds in Italy this morning met with a relatively low demand, despite the purchase of the European Central Bank in recent weeks, creating nervousness.

For its part, the performance of the same maturity Bunds fell to 2.15%, 2.22% against the previous day.

This evaluation suggests that the hurricane was downgraded to a tropical storm may have caused less damage than feared by insurance professionals.

According EQECAT, the bulk of the damage in both states was recorded in North Carolina, including unusual waves and flooding.

Added compensable damage suffered in the Caribbean, estimated between 300 and 600 million, now estimated EQECAT Irene has so far caused damage of between 500 million and one billion dollars.

This is less than the estimates of the competitor AIR Worldwide, which refers to 1.1 billion damage in the Caribbean region alone.

Estimates of damage to the rest of the United States are expected in Monday.

ArcelorMittal, the world's largest steel and Peabody, the largest U.S. coal, offered 15.66 Australian dollars per share Macarthur, including dividend, about 3.5 billion euros to get their hands on the giant but pulverized coal it considers the offer inadequate.

The Australian group, which must respond by 1 September, said efforts to find a buyer more generous.

"Macarthur said to be in regular negotiations with a number of interested parties in connection with any alternative proposals which could result in a superior offer to shareholders," the group said in a statement.

The action ended on Wednesday Macarthur 15.80 Australian dollars, up 1.15% but slightly above the proposed $ 15.66, suggesting that investors are skeptical of a cons-offer.

Macarthur posted annual results boosted by higher coal and pulverized by a gain on disposal.The annual net income at the end of June, has almost doubled to 241.4 million Australian dollars.

Excluding items, earnings came out of 142.4 million Australian dollars, against 139.1 million the previous year, while the Thomson Reuters consensus I / B / E / S was 144.6 million.

The second half suffered from production interruptions caused by major floods in the region of Queensland. The group plans to return to normal production in early 2012 at the earliest, around 5 to 5.3 million tonnes per year, and hopes to increase it to 9.2 million tonnes by 2014.

"The United States has never been in default and will never be in default," said Biden in a speech to Sichuan in southern China.

China is the largest foreign creditor of the United States. Dollar investments represent about 70% of its foreign exchange reserves, estimated at 3200 billion.

Chinese investment dollars are safe, assured Biden, the fifth and final day of his visit to China.

Vehicle production is interrupted in April at Saab, suppliers refusing to deliver more parts until they have been paid.

Lars Holmqvist, Director of the European automotive suppliers, told Reuters that the Spanish supplier Matrici S.Coop preparing an application for bankruptcy of Saab on the grounds that the manufacturer owes him two million euros.

The Spanish company could not be reached immediately.

In July, Saab was able to avoid the bankruptcy of one of its units by entering into an agreement with the supplier SwePart Verktyg AB.

"Some companies expect and receive no response.Others have heard that some had been paid in part, what irritates them greatly, "reported Lars Holmqvist.

"They realize that there is no alternative but to seek bankruptcy, because obviously in this case, Saab will pay."

He has said he was approached by German suppliers, who reported each of around five million euros of debt on Saab.

A spokesman for the Swedish carmaker, said: "We know in what situation we are. We work very hard to resolve it and ensure more stable funding."

The movement continues unabated. Last Saturday, more than 100,000 demonstrators marched to shouts of "the people demand social justice" in Tel Aviv and several other Israeli cities. It is the largest social movement in Israel in four decades. Religious and secular, Jews and Arabs, members of the Likud and the Labour Party … The whole middle class is united in protest against the rising cost of living, the result of a market controlled by a few families . And every day, the movement is growing.Latest to join the protest, the taxi drivers came Thursday. The adoption by Parliament Wednesday a law on housing by the government has not met the protesters calling for a mass demonstration on Saturday in Tel Aviv after the sanctity of the Sabbath rest. This is probably the moment of truth for the "revolt of the tents," launched in mid-July.

Click here to find the slide of the Express. Fr

Swiss prices for wages Greek

It all started with the cheese. While the price of the basic ingredient of Israeli breakfast is climbing, a boycott on Facebook in June was successful: the government has asked milk producers to lower their prices. Building on this success, the boycott was extended to other products such as diapers, cereals and olive oil.In fact, the Israelis are facing high inflation, which is expected to grow 4% this year and forcing the central bank to raise interest rates 10 times since 2009.

Result, the Israelis spend each month two to three times more than people in developed countries, while revenues are lower, according to a study of daily Globes, cited by Slate. Even chains like Gap and H & M sells 15 to 30% more expensive than elsewhere in Israel, according to The Jerusalem Post.But if the price increase should slow down to below 3% over the next two years, the electricity should continue to burn because of the problems of supply of Egyptian natural gas.

Unaffordable housing

If the grumbling began with consumer products, the focus shifted in July to housing prices, when a student has pitched his tent in the center of Tel Aviv to proclaim his distress face high rents. His initiative has spread like wildfire, so much so that today there are tent camps in most cities.

For the stone blazes in Israel. In one year, prices rose by 32% in Tel Aviv (64% since 2008), and 17% in Jerusalem, a trend that is reflected across the country and bar the access of young couples to property, their wages stagnant.That, while there is a park of 150,000 unoccupied dwellings whose owners are often foreign Jews. Rents are to match, a family apartment easily reaching NIS 5,000 (1,000 euros) per month, or more than the minimum monthly wage, which has been revalued to 4100 shekels (820 euros).

How to explain the shortage of housing? If the demonstrators are reluctant to highlight the thorny issue of subsidy for housing in the occupied West Bank, it is clear that this policy was at the expense of real estate projects in Israel. A report by the Israeli Peace Now, 15% of the national budget of the construction is dedicated to the development of settlements in the West Bank, while the territory has only 4% of the Israeli population.

Increasing inequality in a growing economy

The paradox is that the Israeli economy is doing well. Since 2004, the growth rate of the nation start-ups and high tech is 4.5%. In addition, the country can boast of having escaped the financial crisis in 2008 thanks to a strict banking regulation credits. This year, growth should be 4.8% and unemployment fell to 6%, its lowest in 20 years.

Beyond the rising cost of living, the protest is therefore more generally on the concentration of the national wealth in the hands of a small class and the aggravation of social inequalities. A recent study by the Bank of Israel, eighteen families and individuals alone control companies that generate half of GDP.These family groups as NOHI Dankner (insurance, airlines, supermarkets, mobile phones, television), Lev Leviev (diamonds, real estate, television, fuel), Shari Arison (banks, highways, real estate).

On the other side of the social ladder, the middle class continues to become poor. An official study published in November estimated that nearly a quarter the percentage of Israelis living below the poverty line in 2009, an average monthly income of less than 3,630 shekels (740 euros). Involved, drastic neoliberal reforms carried out since 2003 by the Minister of Finance Benjamin Netanyahu, with the key to a sharp drop in taxes, the overhaul of the pension system and health insurance, privatization of certain public and most massive cuts in public spending and particularly in the allocations.What draw a line under the socialist model and egalitarian kibbutz pioneers.

While these reforms have helped the country out of recession caused by the bursting of the high tech of 2000, but they have plunged many families into poverty. This is why the protesters up in arms today against "savage capitalism", in charge of growing inequality but also the degradation of public services, particularly in the field of health and education. Thousands of doctors, on strike for over three months, such as pat denounce the lack of doctors in the public system and low wages. And thousands of mothers took to the streets Thursday by pushing their prams to speak out against the cost of registration "abusive" in private kindergartens.

According to information from newspaper, without citing its sources, the board of directors of the Franco-Dutch company will review the draft July 27, before an announcement expected in September.

The Tribune adds that only half of the order, valued at EUR 25 billion at list prices, will be strong – 25 Airbus and 25 Boeing – while 50 other aircraft will be options.

One hundred MPs have launched a petition last month to urge Air France, which the state owns 15.7%, to choose the future long-haul Airbus A350 instead of the Boeing 787 "Dreamliner" for its next command.

The CEO of EADS, Louis Welsh replied that it was the only airlines to choose the aircraft they wish to order.

According to the Tribune, regardless of this tender, Air France has already ordered ten B787 rent to the leasing company ILFC on behalf of KLM.

The long-term lease, initially spent a few years ago with another leasing company, was then taken up by ILFC.

No comments could be obtained immediately from Air France.