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Coface, which announced Monday a further improvement in results due to the recovery of its performance in the insurance authorized by a decrease in claims and believes that its results any credibility to public offerings.

The credit insurer, 100% subsidiary of Natixis, the subject of strategic thinking since last February in BPCE, parent company of Natixis on his future within the banking group.

Commenting on the results of Coface published on Monday its chief executive, Jerome Cazes, said at a press conference that discussions had not been completed and that there was "no urgency".

However, he said "feel that the scenario of a public offerings in 2011 is gaining credibility with the results" the first half.

The credit insurer is considered unlikely scenario of recurrent growth under the policy followed by recovery in the United States and China and the dynamism of world trade, and expects a further improvement in claims in the second half.

"This situation (macroeconomic) can anticipate the second half a further improvement in claims, continued cost control and growth turned positive in its turnover," notes Jerome Cazes.

The company saw its second quarter results continued the recovery started in the last quarter of 2009, with operating income of 31 million euros after a loss of 76 million a year earlier and a positive result of 24 million in the first quarter of year.

PERFORMANCE ASSURANCE

Driven mainly by the insurance, which rebounded thanks to a decline in claims, despite a turnover fell 2% at constant rates to 303 million euros while the ratio claims fell to 59% in the second quarter, against 63% in the first.

Coface's objective is a loss ratio between 45% and 50% in the next 18 months as well as productivity gains three points per year.

Operating income from insurance activities has reached 31 million euros, against a loss of 126 million a year earlier and a positive result of 24 million in the first quarter of 2010.

In services, where sales fell 8% to 65 million euros, operating profit was halved to six million euros while in factoring it increased to 10 million EUR cons has a two million earlier, on sales up sharply (+21% to 29 million euros)

Net profit stood at 20 million euros, against a loss of 37 million a year earlier and a profit of 15 million in the first quarter.

Shareholders' equity improved to 1.311 million euros, signing up 21% from the end of 2009 and 11% from the end of 2007, before the outbreak of the financial crisis, mainly driven by the capital increase occurred at Natixis first quarter.

As part of its strategic plan 2010-2012, after which Coface is a net profit of 250 million euros, the group also wants to become a rating agency that specializes in financial firms.

In response to criticisms of credit insurance during the crisis, the company has introduced a free access to its insured ratings to their clients.

Boeing released a quarterly earnings above expectations but down from last year due to lower deliveries of aircraft.

The U.S. group, world number two sector behind Airbus (EADS) has achieved in second quarter net earnings of $ 787 million, or $ 1.06 per share, against 998 million ($ 1.41 per share) a year earlier.

Financial analysts had expected a profit of $ 1.01 per share according to Thomson Reuters I / B / E / S.

The quarterly revenue fell 9% year on year to 15.6 billion dollars.

Sales of the division of civil aviation has dropped 12% to $ 7.4 billion aircraft deliveries declined by 9%.Boeing Commercial Airplaines recorded 88 orders for the quarter and 20 cancellations.

The backlog stood at 3,304 civil aircraft late June, for a value of 252 billion dollars.

The turnover of the defense business has declined in parallel from 8% to $ 8 billion, mainly due to lower volumes in the Network & Space Systems branch.

Net sales of Boeing Capital has dropped 3% to 162 million.

Norsk Hydro believes that the aluminum market may have reached its highest level this year in the second quarter and maintained its forecast of growth of 12% of its markets upstream and downstream in 2010.

The Norwegian producer of aluminum has made a profit before interest and taxes (EBIT) current of 1.1 billion kroner (137 million euros) in the second quarter, after losing 618 million kronor last year on same period. Analysts polled by Reuters had expected a profit of 900 million kroner.

"The numbers are very solid," said Samir Bendriss, an analyst with Pareto."They are particularly successful in the upstream activity, with higher prices, higher volumes and lower costs than expected."

The group assigns him, this performance to increase its volumes, the strength of its margins and tight control of costs.

"We still anticipate that demand in our major markets upstream and downstream will grow by about 12% in 2010," he said.

However, Norsk Hydro estimates that the global market for aluminum is oversupplied despite the recovery in demand linked to the moderate recovery of economic growth.

"There are many elements that suggest that the second quarter will be stronger in 2010", said group general manager, Svein Richard Brandtzaeg, at a press conference.

The group said world demand for primary aluminum, excluding China, has increased in the second quarter to an annualized level of consumption of around 24 million tonnes, while production outside of China increased 25 million tons on an annualized basis.

"Demand should be stable in the third quarter but with a normal seasonal decline," said Norsk Hydro.

The Norwegian group also warned that its results for its underlying activities of alumina (aluminum oxide) and raw materials are expected to fall in the second half after a solid six months, due to an expected drop courses alumina and rising costs of bauxite.

"The decline (will be) following the expected decline in margins," the group said.

Around 9:45 GMT, was virtually unchanged at 34.96 crowns.

The International Monetary Fund (IMF) intends to increase its lending capacity of 750-1000 billion dollars to prevent future financial crises, the Financial Times.

The organization wishes to enter into agreements to advance on a case by case basis with member states, rather than offering loans under certain conditions, the newspaper said without citing sources.

"Even during periods of crisis, a large fund that can take massive can help prevent crises," explained Dominique Strauss Kahn, IMF managing director, in the columns of the Sunday edition of the FT.

"The fact that the decreasing financial role does not mean we can do without a big fire power (…) A fund of 1.000 billion is a wise prediction," he says.

South Korea, which currently chairs the G20 group, hopes to convince its partners to approve the draft at the next summit of the organization, to be held in November in Seoul, says the author of the article.

The Japanese consumer confidence improved for the sixth straight month in June, reaching its highest level in almost three years, a sign of an increase in economic recovery in the archipelago.

The index measuring the sentiment of households, which reflects their views on income and employment, reached 43.5 in June, its highest since September 2007, according to figures released Tuesday by government departments. In May, the index was at 42.8.

The government has revised upwards its opinion on the mood and now believes it is oriented towards improvement.

The index remains below 50, meaning that pessimists still outnumber optimists.

Christine Lagarde wants a "pause" in gas prices until January 1 next time an audit determines the relevance of the new method of calculation applied by the Regulatory Commission (CRE).

CRE authorized Thursday GDF Suez to raise gas tariffs from 1 July, after an initial increase of nearly 10% from 1 April. Higher rates for individuals oscillate between 2% and 4.7%.Since the start of the year, gas prices have increased by about 15% in France.

"I hope that the CRE do an audit of this formula because I'm quite surprised at the speed of execution and I wish that as a result of this audit, we determine if the formula is good," said Minister of the Economy Friday on France Inter.

"By then, I hope the prices remain unchanged, that is to say that until January 1, we make a full break in considering any further action until the audit results are not provided, "she added.

The CRE noted Thursday in a statement that his tariff had been an audit on which it will deliberate by September.

The CRE and GDF Suez justify rising gas prices by higher oil prices, which are indexed to gas prices and the weaker euro, which significantly increased imports of oil, sold in euros.

"The crisis is not behind us," explained Friday government spokesman Luc Chatel, RTL, noting that gas prices "have fallen by about 11% last year.