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Vivendi said Wednesday anticipate an increase in its annual results for 2010 and maintaining its dividend to 1.40 euro for the year, after posting better than expected performance in the first half, notably at SFR and Universal Music.

The first group of European media and entertainment market capitalization said in a statement anticipating a growth in adjusted operating profit (EBITA) in 2010 – instead of a "slight" growth before.

It also provides a higher adjusted annual net income higher than the 2.585 million generated in 2009.

Vivendi has released the first-half EBITA of 3.243 million euros, up 11.9% and a turnover of 13.982 million, up 6.1%.

The 12 analysts polled by Reuters drafting average expected EBITA of EUR 3,099.5 million and a turnover of 13.833 million.

The company posted an adjusted net income biannual 1,526,000 euros, up 4.0%

SFR, which accounts for nearly half the turnover of the group reached EBITA of 1.368 million euros, against 1.302 million expected by analysts, with sales up 1.8%, more stronger than expected.

Canal + has reached an EBITA of 486 million euros, up 3.0%, against 463 million expected, but with a turnover more moderate than expected.

Lagardere announced last Thursday that he intended to complete by March 2011 the IPO of 20% of Canal + France held 80% with the balance.

UMG, the first record label world, shows a fall of 24.6% of its EBITA less than expected at 159 million euros, against 149.5 million anticipated.

Vivendi also raised the forecast of Brazilian fixed-line operator GVT, its latest acquisition and its smallest division, now anticipating increases of 34% of its turnover and 44% of its adjusted EBITDA – 29% and cons 35% previously.

GVT has done in the first half turnover of 444 million euros and an EBITA of 98 million.

The Vivendi shares closed Tuesday up 1.24% to 18.41 euros, giving a market capitalization of $ 22.8 billion. It has lost 11.5% since the beginning of the year, against an increase of 5.3% of the pan-European media index.

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.

The plan to support the U.S. economy contributed 4.5% in real gross domestic product in the second quarter of 2010 and allowed to deliver up to 3.3 million people in employment, said Tuesday Budget Office Congress (OBC).

The CBO estimates, a bipartisan agency, believes the support plan, whose effects are challenged by the Republican Party, has prevented the economy contracted between April and June

Economists polled by Reuters expect the revised figures, which will be released Friday, show that GDP grew at an anemic pace of 1.4% in the second quarter, less than the 1.7% increase announced in the first estimate.

The CBO also estimates that support plan has put between 1.4 and 3.3 million jobs in the second quarter.

The total cost of the plan to support the U.S. economy should come out to 814 billion dollars while the CBO anticipated amount of around 862 billion dollars from a previous estimate.

Industrial production increased in the U.S. in June, against all expectations, above-normal seasonal temperatures have boosted the use of air conditioning and therefore the production of electricity, official statistics show the Federal Reserve.

Production was up 0.1% in June while economists and analysts polled by Reuters had forecast an average decline of 0.1%.

The May figure was confirmed at 1.3%.

For the second quarter as a whole, industrial production has emerged up 6.6% yoy, lower than the 7.0% increase recorded during the first three months of the year.

The production sector of utilities rose 2.7%, higher than the Fed said the sharp rise in the use of air conditioning.

Manufacturing output fell for its 0.4%.

The utilization of production capacity has remained stable at 74.1%, but remains below 6.5 points to its average over the period 1972-2009.

The Federal Reserve is closely monitoring these statistics to assess the possible inflationary pressures, which could affect its monetary policy.

U.S. stocks finished higher on Thursday for the third consecutive session after the publication of employment data found reassuring.

The Dow Jones gained 1.2% or 120.71 points to 10,138.99 points, while the Standard & Poor's 500 took 9.98 or 0.94% points to 1070.25 points.

The Nasdaq Composite Index has advanced by 0.74% or 15.93 points to 2175.40 points.

The weekly claims for unemployment benefits fell 21,000 last week to the United States, more than expected, which has momentarily quieted concerns about a possible slowdown in U.S. economy.

Prices were also supported by the major U.S. retail chains that have posted good sales in the month of June JC Penney Co. and Abercrombie & Fitch were awarded 6.7% to 23.24% and 7.75 dollars to 35.45 dollars.

Costco Wholesale has gained 2.62% to 55.71 dollars. The number one warehouse stores reported an increase of 4% of its turnover store, which has been slightly below market expectations.

Side decreases, the values of semiconductors have been some profit taking.

"It is a context of nervousness.The investors are not eager to jump feet first into the market, "said Scott Marcouiller specialist at Wells Fargo shares Advisors in St. Louis.

Micron Technology has come a decline of 2.3% to $ 8.69. Index PHLX Semiconductor sold 0.1% after gaining over 5% Wednesday.

Apple has sold 0.2% to $ 258.09 and Intel 0.2% to 258.09 dollars also.

National Australia Bank is expected to introduce in the space of one week a new proposal to the Australian competition authorities on its bid of 11.5 billion dollars (9.13 billion euros) over the asset manager AXA Asia Pacific , a subsidiary of AXA, say three sources familiar with the matter.

NAB, which attempts to revive the business after losing the first time in April by the Australian Competition Commission (ACCC) would seek a further extension of its exclusivity few weeks from Axa to finalize its offer, added the sources.

The exclusive agreement between NAB and Axa expires July 15 and, in the opinion of the sources, Axa will extend it to allow time for competition authorities to assess the new proposal.

NAB and AXA AP have declined comment.

The ACCC had estimated in April that a merger between NAB and AXA would significantly reduce competition in the market for retail investment platforms.

To satisfy the commission, NAB may sell retail platforms AXA AP, North, for example.According to sources, discussions are underway on this with the fund manager IOOF Australia.

The Director General NAB Cameron Clyne said Wednesday shareholders that "NAB continues to evaluate its options for the approval of the ACCC's proposed purchase of subsidiaries in Australia and New Zealand AXA Asia Pacific" .

The opportunities are scarce for AXA, to the extent that the manager Australian PMI is also in the running but a recent decline in its share has reduced his ability to effectively make a competing offer, which it has yet received approval from the ACCC .

The NYSE opened up but on a cautious note Friday after the release of monthly statistics of the labor market in the United States, which rekindled fears of a slowdown in economic recovery.

A few minutes after the start of trading, the Dow Jones gained 0.27% to 9759.21 points, the Standard & Poor's 500 index 0.44% to 1,031.86 and the Nasdaq Composite 0.34% at 2108.48.

The U.S. economy has destroyed 125,000 non-agricultural jobs in June, according to Labor Department statistics, a figure slightly higher than expected.This is the first time since the beginning of the year that the U.S. economy is destroying jobs.

Among the values sought in early trading, the "biotech" Biogen and Allergan earn more than 6% and 8% respectively after news reports that Sanofi-Aventis is preparing a major acquisition in the United States.

The death of U.S. Sen. Robert Byrd could lead to a postponement until mid-July of the final adoption of the draft law reforming financial regulation in the United States, forcing the Democrats to seek further support.

The future of the bill now depends on the decision of a handful of senators after the death Monday of Robert Byrd, at the age of 92 years, denying the Democrats a voice in favor of the 60 needed to deprive Republicans delayed by a battle of adopting the text amendments.

The Democrats could expect that the governor of West Virginia named interim successor to Robert Byrd, but the appointment could take several weeks.

To ensure some additional support, the Democrats may have to change the text.

"If they need to review the bill and make concessions to secure additional votes (…), the text will emerge strengthened, not weakened," warns Barbara Roper, who heads an advocacy organization of consumers.

This bill, which President Barack Obama made one of his priorities, would launch a reform of financial regulation unprecedented since the 1930s.

The text aims to cut without a ban, the risky activities of banks, to establish a new process of liquidation for companies in financial difficulty, or to impose a tax credit on the largest financial groups, on larger groups to finance reform.

The House of Representatives should adopt the text Tuesday or Wednesday. But before being submitted to the presidential signature, originally scheduled on July 4, the text must also be approved by the Senate.However, due to the death of Robert Byrd, the Senate could defer their decision on July 12, after a week of leave, said a legislative assistant.

"We expect that this overhaul of banking legislation wins approval in U.S. House of Representatives, but the situation is complicated in the Senate," admits Brian Gardner, a political analyst for investment firm Keefe Bruyette & Woods.

THE MARKETS IN WAITING

If the vote of the law should dispel the uncertainties surrounding the bank stocks, the implementation of the text still has many question marks, analysts said Goldman Sachs.

Among outstanding issues is the appointments that the U.S. president should proceed, including the new head of the agency responsible for regulating mortgages, credit cards and other financial products.

Some clauses of the text should weigh on profits and growth of the largest banks, but have been relaxed during negotiations between representatives and senators, after a marathon negotiating session last 21 hours that ended Friday in the dawn.

For now, Democrats are thus seeking to support their cause some moderate Republicans like Olympia Snowe, and Senators Scott Brown, supported the text but rather reluctant to introduce a tax credit.

It aims to prevent the bill strikes the U.S. public finance more.However, according to the Congressional Budget Office, an independent monitoring and evaluation of public accounts, expenses related to the reform in ten years, estimated at $ 26.9 billion, should be offset by as much revenue.

The vote Democratic senators Russ Feingold and Maria Cantwell, who voted against it last month, claiming it was not sufficiently binding, should also be courted.

Russ Feingold, however, already assured Monday that he would not change his opinion. Maria Cantwell for studying the issue and it still has not yet decided, said a spokesman.

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.