70 billion euros, the amount of foreign trade deficit for the French government plans to announce Tuesday. An absolute record much higher than the previous record set in 2008.

Secretary of State for Foreign Trade, Pierre Lellouche had, in mid-January, revised down from the estimated 5 billion annual deficit, previously estimated at 75 billion. "It's huge, it's still too much, of course," he had complained at the time. "We pay several years for the erosion of our industrial base, the real issue is to reboost the French offer," Pierre Lellouche was analyzed.  

The cumulative deficit of 12 months completed end of November totaled 70.450 billion euros, very marked deterioration compared to the year 2010 (51.455 billion), according to latest figures released by Customs. The projected number of 2011 is also a significant increase on the previous record of 2008: 56.2 billion. The balance of trade in goods between France and the world was again negative starting in 2003. But, in addition to structural reasons regularly cited by the Minister and industry-related and lack of medium-sized companies, competitiveness in cost, capacity to innovate enough, economists emphasize the role of energy bill.

It helped itself to some 60 billion deficit last year, said Christophe Blot, of the French Observatory of Economic Conditions (OFCE). "It is clear that energy has had a very negative impact", with a 39% increase in annual average oil prices, said Alberto Balboni for his part, the analyst firm Xerfi. Note also the slowdown in trading partner of France, he notes. However, after excluding these two factors of energy and economic crisis, there is on "long-term non-energy deficit that is growing since the early 2000s," he says.

Small increase in French exports

There is a "structural trend of the industry side to record deficits, which is associated with deindustrialization," added Balboni. The year 2011 is a case, all sectors of industry have led to a widening deficit, "says he. Areas already in deficit, including automotive and textile industries, have increased their negative balance and others "who are a little florets of French foreign trade as the aerospace industry but also the pharmaceutical industry saw their surpluses shrink ".

Hence the debate of the current presidential campaign in France on the lack of medium-sized companies (250 to 5000 employees) capable of launching export, innovation and competitiveness, both in its component price and non-price component, say the economists. Elements of "hard to quantify" but based primarily "on the question of whether there are resources that could find through the trade to improve our performance in terms of growth," explains Christophe Blot.

It is observed that French exports in 2011 grew less than those of Germany, but also that exports from Italy, Spain, UK and U.S.. The global market share captured by France and has deteriorated significantly since 1990 from 6.2% to 3.6%. For 2012, it is possible to expect an improvement on the side of oil prices that are on the downside, the average Brent price from 123 dollars a barrel in April to 108 in December. But the trend depreciation of the euro could partly neutralize this effect.

The commands in French industry, including export, fell sharply in September after several months of growth, even if they were up all over the third quarter, INSEE said on Friday. The industrial new orders (excluding transport equipment but including automotive) were down 3.1% from the previous month after rising 0.8% in August.

Those from abroad also recede, 2.7%, says the National Institute of Statistics and Economic Studies in a statement. The decrease is very strong in the automotive (-6.9%), pharmaceuticals (-8.3%), chemicals (-2.7%), paper and cardboard (-6.2%) and textile (-3.2%). Electrical equipment, electronic and computer were down 1.6%.

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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.

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.

While S & P downgraded Friday to AA + the United States and matched their score with a negative outlook, Paris and London still enjoy a stable outlook on its triple-A, said Moritz Kraemer, quoted by the German economic daily Handelsblatt.

"We note the risk that we perceive the prospect that we attribute," he said.

"Accordingly, the United States were negative watch, and we have a stable outlook for both France and for Britain, which indicates that this point of view we do not anticipate a reduction in the next two years. "

France – which shows the worst ratios of fiscal group of "triple A" in the euro area (France, Germany, Netherlands, Austria, Finland and Luxembourg) – will honor its commitments to keep the note allowing it to fund the best conditions in financial markets, said Tuesday morning the budget minister Valérie Pécresse.

The budget deficit of the French state amounts to 61.3 billion euros at end-June against 61.7 billion a year earlier, according to data released Tuesday by the Budget Ministry.

If Schneider Electric continues its annual target organic growth of between 6 and 9% over the year, there is now an operating margin of 15% in the bottom of the range of 15 to 15.5% originally announced.

The surge in raw materials is one of the main negative factors weighing on the group.

"Their effect has never been so hard on our accounts," said Jean-Pascal Tricoire daily, adding that initially the group provided a negative impact of 250 million euros for the full year 2011.

"Ultimately, it is the impact we've had for the first half alone, and we now expect an effect close to 400 million over the year," admitted the manager who promised efforts to better understand these fluctuations.

"We will better manage the impact on some big projects and we were able to pass some of this inflation in our prices, but it will be mostly on the second half of the year," he said.

Logistical disruptions that followed the tsunami in Japan also had a negative impact.

"The stockpiling was unusual to have a financial impact of € 300 million on our cash, we reverse the second half," further stated Jean-Pascal Tricoire.

Schneider recorded organic growth of 10.2% in the first half of 2011 and operating profit came out up 14% in absolute value in the first six months of the year.

The activity "Solutions" group and the strong growth in emerging countries are the main drivers of the business group, said the leader.

Schneider published Friday in the morning its official results of the first half.

The specialist electrical equipment and automation has made several acquisitions in 2011 such as the Brazilian and Chinese Leader Steck Harvest Power Technologies and has launched a 1.4 billion euros for the Spanish Telvent.

Jean-Pascal Tricoire said want to focus in the second half of the year on the integration of acquired companies and not to aim for very large operations.

"We continue to have a very strong preference for small and medium sized acquisitions," he said.

The leader has repeatedly tried since the beginning of the year cut short the rumors of interest in the American Tyco, speculation which had lost nearly 10% in group action in a week. On the front of divestitures, are persistent rumors about a possible sale of its sensors, grouped today in the entity CST (Custom Sensors & Technology), an entity valued at around one billion dollars.

The Nikkei gained 1.54% or 148.28 points to 9797.26 points, while the Topix, broader, taking 1.66% or 13.77 points to 844.11 points.

Japanese industrial production jumped 5.7% last month, after an increase of 1.6% in April, while analysts predicted a 5.5% increase.

The renewed optimism related to industrial production took part in the values ​​of the distribution.

J. Front Retailing gained 0.86% to 353 yen.The number two Japanese department stores has revised upwards its forecast for Tuesday operating profit for the current year which will close in February.

According to a survey published by the daily Nikkei, retailers foresee a rise in their income for the quarter June-August.

Nissan has appreciated by 2.67% to 847 yen. Tuesday, the automaker announced just before the close of trading, a target operating margin target of 8% within three years.

Power companies have been sought.According to the Nikkei, the opposition asked the government that the utility companies do not contribute to the compensation program for victims of forced evacuation related to radiation at the Fukushima nuclear power plant operated by Tokyo Electric Power. TEPCO has gained 2.85%. Kansai Electric Power took 3.94% and 4% Chubu Electric Power.

Former French Socialist Prime Minister Michel Rocard, Ambassador for negotiations on the Arctic and Antarctic poles, expressed concern Tuesday in Buenos Aires of the increase "dramatic" Tourism in Antarctica.

"The problem that point, it's tourism: starting from scratch thirty years ago, it reaches 55,000 people a year," he told reporters Mr. Rocard, who participates in the Argentine capital to the 34th Consultative Meeting on the Antarctic Treaty.

"It increases dramatically. But it is polluting. How can we reduce the pollution generated by tourism?" Said Mr. Rocard, recalling already decided that the limitations could be insufficient.The signatories of the Treaty had been particularly engaged in 2009 to limit the number of people down to 100 at a time.

In addition, "is it that biodiversity is threatened on a particular species of whales?" Asked Mr. Rocard. "There are countries who continue to poach. Do we have to increase the level of protection?". The ambassador argued that France was seeking to expand the number of countries that have ratified the Antarctic Treaty.

"There are many people to the prognosis we have the pressure to lift the ban on mineral activities in Antarctica," warned the former head of government. "If France has taken the fight to strengthen the political authority of the treaty by expanding the number of people that have ratified it, is precisely to resist that," he said.

The signatory countries are celebrating on Thursday in Buenos Aires, the fiftieth anniversary of the Treaty of Antarctica. A protocol to the treaty on the protection of the Antarctic environment, was signed in 1991, when Mr. Rocard was French prime minister. He has made Antarctica a nature reserve.

The second global distributor, who battle to recover the profitability of its hypermarkets in France, had already warned that its performance was not up to expectations.

"(Carrefour) Christmas Prioux asked to implement a recovery plan performance in France, the results in the first half, in a difficult environment, are below the expectations of senior management," it said in a statement .

In early May, he had justified the dismissal of its executive director France, James McCann, judged by the results disappointing.The Group Chief Executive, Lars Olofsson, was then taken directly to reindeer operations in the interim.

The group was then given any figures for the first half alone, simply to ensure that its 2011 results would be "growing" and without specifying the extent of the expected increase.

In the process, many analysts anticipating a possible decline in operating profit in the first half had adjusted their annual forecasts.

"The poor figures for the first half are already largely factored into prices," notes one analyst who requested anonymity.

To replace James McCann, Lars Olofsson, chose a man of the seraglio, a connoisseur of the land as he led the hypermarkets in France.

This appointment, however, surprised.Many observers felt that Carrefour had to find a man in the group, but Christmas Prioux newly appointed head of Europe in place of Vicente Trius, party head towards the Canadian distributor Loblaw Companies.

"It shows they are really desperate. Why is the name in France after giving Europe?" Asks an analyst based in London.

A Paris-based analyst for its part considers that "it's going the right way instead."

"They appoint a French person who knows the terrain.With the motivation of teams, currently, I think it was the only solution, otherwise, it was the wall, "he adds.

The distributor said that Lars Olofsson, however, continue to "supervise" the operations of Carrefour in France.

France remains a key market for Carrefour, where the group generates more than 40% of its turnover but he is losing market share.

"The situation in France is becoming more difficult," noted another analyst.

Thomas Hübner Martin, 53, Swiss citizen, will head for its European activities of the group.Spent at McDonald's, he also made his career at Metro Cash & Carry International before investing in start-up supply.

The title Carrefour lost 10% of its value since the beginning of the year.