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U.S. stocks finished Friday in a disorganized, investors wanting to believe in breakthroughs in the Greek record while being cautious on the eve of a weekend of three days.

The Dow Jones gained 0.35% or 45.79 points to 12,949.87 points while the Standard & Poor's 500, widest, won 0.23% (3.19 points) to 1361.23 points. The Nasdaq composite ended down 0.27% or 8.07 points, to 2,951.78 points.

For the week, the Dow gained 1.2%, the S & P 1.4% and Nasdaq 1.7%.

U.S. markets are closed Monday for President's Day.

Greece looks set for Monday the release of a new plan to help the EU and the IMF, despite the doubts that persist among its partners in the euro area about the pace which it manages to reduce its debt.

"It is beginning to realize that all the negative feeling that we had four months ago on a global depression that would be provided by Europe (…) quickly becomes wrong when we look economic indicators continue to show pretty good, "said Ryan Detrick, at Schaeffer's Investment Research. 

Traditionally, the stock market also marks a break towards the end of the period of publication of company results. Investors need to digest all this news. According to data from Thomson Reuters, 404 of the 500 companies in the S & P 500 have already published their results and 64% of them posted higher profits laughing expectations.

Since the beginning of the year, the S & P gained 8.2%.

Values, Heinz and Campbell Soup have been awarded respectively 4.5% and 2.6%. Both groups have food delivered results above expectations.

In contrast, General Mills, which lowered its forecasts, lost 3.6% to 38.34 dollars.

Gilead Sciences fell 14.25% to $ 47. The pharmaceutical group, which last year spent 11 billion dollars (8.36 billion euros) to buy Pharmasset and its experimental treatment against hepatitis C, saw its stock plunge after inconclusive results of this product.

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For the second consecutive year, the book market is declining, particularly in supermarkets. Only the online sale progresses. At the book fair de2009.

The book market declined 1% in 2011, continuing to deteriorate for the second year in a crisis, and if selling online is the only move forward, the library holds up better than retail, according to annual survey Livres Hebdo / I + C.

Lower sales of -1% in current euros amounted to -3% by volume, given the evolution of prices of the books, according to annual data from the institute I + C on behalf of the magazine Livres Hebdo .

The decline in attendance outlets last year has been the main obstacle to the business book market, which declined by -0.5% in 2010. The average shopping basket of consumers was less than 17 euros for the year: 16 euros during the first nine months of 2011 and 18 euros in the last quarter. If the book has fared better than most other consumer goods in December, "he suffered much the decline in household spending throughout the year (-0.5% according to INSEE), a score ever recorded for fourteen years, "notes the editor of Livres Hebdo, Christine Ferrand. "The question of the attractiveness of libraries stands out as the first challenge of 2012," the magazine.

The libraries of the first level (most important) remain in the general market average, with -1%. However, the deterioration of book sales accelerates in hypermarkets, with a decline of -5.5% in 2011, against -3.5% in 2010. Cultural supermarkets are now in the red (-0.5%) despite continued store openings in several brands. Up 5.5% in 2011 and 2010, the circuit of distance selling (including clubs via retailers) confirms its dynamism thanks to the persistent growth of online commerce, the survey notes.

Another highlight, the pocketbook is the only publishing sector up (1%), while sales of books Youth stagnate (0%) and comics (-0.5%) recorded a slight compaction. Humanities to limit the damage (-0.5%), thanks to the vitality of sales history books. The practical book saw a decline of -1.5%, as the school and after school. As for literature, it is declining by -2.5%.

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Sony suffered an operating loss of 91.7 billion yen (910 million) over the period October-December, disappointing result for a quarter usually lucrative, due to the force the yen, sluggish economy and flooding in Thailand.

Analysts expected a profit of 8.8 billion yen, according to Thomson Reuters I / B / E / S.

The Japanese electronics giant also said Thursday expected to be in red on all of its fiscal year ending in late March, weighed down by chronic problems of business television and aggressive competition from rivals in South Korea as Samsung Electronics. 

Sony expects annual operating loss of 95 billion yen, while the market was expecting a profit of 8.2 billion yen.

These results worse than expected underline the magnitude of the task facing the new boss of the group, Kazuo Hirai, whose appointment was announced Wednesday with the aim of giving back to the group Japan's leading role in consumer electronics.

The title Sony closed down 2.64% just before the publication of these figures.

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Fitch believes that the "AAA" rating of France would be in danger in case of intensification of the crisis and a worsening economic slowdown. The rating agency currently maintains its stable outlook. The offices of the rating agency Fitch in New York.

The rating agency Fitch Ratings said Wednesday that France could see its "AAA" rating, the best possible challenge for the aggravation of the crisis in the eurozone. "The AAA of France would be in danger" if the crisis worsens, then that would cause a worsening economic slowdown in France and Europe would force the country to help its banks, Fitch writes in his analysis .

According to the agency, France deserves its AAA today but could be forced to further action on the budget if it is to meet its deficit target of 3% of GDP in 2013, as pledged by the government.

The new Fitch report is published as France, rated triple-A from three major agencies, has suffered in recent days in the bond market, seeing the difference between its rate to 10 years and those of Germany to a level record since the inception of the euro area. Monday, rating agency Moody's had estimated that a rise in bond yields and French economic growth prospects deteriorated might have a negative impact on the debt rating of France.

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UniCredit is expected to announce a capital increase of up to 7.5 billion euros and thousands of job cuts, said sources familiar with the matter Sunday.

The Strategy Committee, with the main leaders of Italy's largest bank by assets, gathered Sunday to discuss these measures before the final decision to be taken by the board Monday on the occasion of the publication of results the third quarter.

A consensus of analysts distributed by UniCredit gives a net profit of six million euros against 334 million a year earlier.

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Germany produce probably less crude steel than expected this year due economic repercussions crisis European debt.

"The steel industry became morose recent weeks due to crisis eurozone" said Tuesday Federation president German steel Hans Jürgen Kerkhoff.

"Production crude steel will a priori 2011 below Level planned 45.5 million tonnes but exceed volume previous year 43.8 million tons" he added.

He confirmed predict next year up 1.5% demand products rolled steel but expressed unable give forecast steel production brut.

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The Director of the European Financial Stability Fund (EFSF) Klaus Regling Saturday tried to persuade China to invest in the bailout fund, adding that investors would be insured against losses fifth, if necessary, and that the debt could eventually be sold in yuan if Beijing wanted.

Klaus Regling visited China two days after the agreement reached by EU leaders on Greece to try to encourage Beijing to participate in the creation of a "special vehicle" within the EFSF, helping to leverage the ability of the latter in excess of 1,000 billion euros.

According to the agreement reached in Brussels, the leverage on the EFSF be obtained via a dual mechanism.This will be one hand to satisfy some of the sovereign debt issued by countries in difficulty and, secondly, to create a new "special vehicle" backed by the EFSF and the International Monetary Fund (IMF) and the participation international investors, such as China and other emerging countries.

The EFSF could absorb 20% of initial losses if necessary, assured Klaus Regling, who did not say whether this degree of protection was required by the Chinese.

He did not wish to comment his visit to China.

MAJOR ROLE OF CHINA

French President Nicolas Sarkozy said after the EU summit last Wednesday that Beijing had "a major role" in resolving the European crisis.

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The Dexia shares fall nearly 10% Monday on the stock market in large volumes, uncertainty around the Franco-Belgian bank cornered the dismantling continues to affect the value.

At 10am, the title fell by 11.38% to 0.615 euro in volumes already exceeding the number of transactions carried out on average over an entire session at the last three months (119% of average volumes).

The title shows the largest decrease of the SBF 120 and Stoxx index of European banks, up 1.37%, respectively, and 1.48% at the same time.

"Dexia drops due to information from the Belgian press this morning, the website relating rtl.be the communal Holding would still not immune from bankruptcy," said an executive of a brokerage firm.

Holding Communal, which includes local Belgian, holds just over 14% of Dexia.

Analysts point out that the title should remain volatile as long as there uncertainty about the fate of the bank.

In addition, the European Central Bank (ECB) said on Friday that guarantees that Belgium intends to make to the bank Dexia are too broad in time and must be amended.

"At the moment there are still uncertainties about the finalization of the plan of buying assets, the title will remain very volatile," observes one financial analyst based in Paris.

"It's a record that was treated in an emergency.There are a lot of 'wait and see' on Dexia, "he adds.

Dexia had lost up to 36% on October 10 before ending on a 4.73% decline in its first trading session after the presentation by Belgium, France and Luxembourg plan to dismantle the bank.

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Britain's BAE Systems said Tuesday it would cut 3,000 jobs in the UK as a result of the decline in orders received for its combat aircraft, resulting from the contraction in defense spending in many countries.

The first British manufacturing group said in a statement that the four Eurofighter partner countries – UK, Germany, Spain and Italy – slowed the rate of production of Typhoon fighter in order to allocate costs in the longer term.

This process reduces the workload on the different production sites, said the group, which continues to seek opportunities for the European combat aircraft to India, Japan, Oman and Malaysia.

Most of the job cuts will involve plants Warton, Lancashire and Brough, East Yorkshire.

BAE Systems, which has already eliminated about 15,000 jobs worldwide over the past two years, announced in July a decrease in pre-tax profits in the first half.

The decline in military spending in the U.S. also implies a spreading of the production of F-35 fighter, which is associated with BAE Systems.

The largest union within the group, Unite, has promised to do everything possible to mitigate the impact of the decision by BAE Systems, while calling the Department of Defense to act to preserve the area.

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Europe has once again been called to beef up Sunday its response to the debt crisis that afflicts him, asking the International Monetary Fund including more action from the European Central Bank.

According to the IMF, the ECB is indeed the only player strong enough to "scare" the financial markets.

Germany, like many senior officials of the ECB itself, however, did not want to see the institution in Frankfurt to become more involved in supporting Greece and other countries in need.

But after the plunge of the markets related to fears of contagion from the crisis in Greece, the pressure becomes very strong European policy makers.

"The ECB is the only agent capable of scaring the markets," said Antonio Borges, head of Europe at the IMF, the bringing together of global economic and financial leaders in Washington.

Executive Director of the IMF, Christine Lagarde, was to meet in the afternoon of Sunday (ET U.S.) the Greek finance minister, Evangelos Venizelos.

The latter acknowledged Sunday that the weakness of the Greek administration had complicated the country's efforts and assured that his government would take steps to meet the expectations of creditors.

"Doing whatever is necessary to fulfill our obligations to our partners, the euro area and the IMF: that is the final and irrevocable decision of Greece," he said.

"Greece feels the international uncertainty, but Greece is the scapegoat or the euro area, or the global economy. Greece is and will always be a member of the European Union and the euro area" , he added.

ENGAGING THE ECB?

The EU and the IMF have already come to the aid of Greece, but also Ireland and Portugal.The authorities want to avoid that Italy and Spain have, in turn, need help.

In the opinion of Antonio Borges, it is essential to combine the firepower of the ECB to that of the European financial stability, with $ 440 billion and responsible for paying aid to countries in need.

But many European officials opposed this solution.

"An avalanche of new proposals every week, it is of no help," and swept Ewald Nowotny, a member of the Executive Board of the ECB.

The markets fear a spread of the Greek crisis.According to estimates by financial analysts, 2,000 billion at least are necessary to protect the EFSF Italy and Spain in this case.

According to European Commissioner for Economic and Monetary Affairs, Olli Rehn, market attention will be focused on the use of existing means of EFSF when European states have approved the development of its capabilities.

"We must find a mechanism whereby every dollar placed in the EFSF would be multiplied by five, but no decision has yet been made on how to achieve it," said another European official, who wished not to be named.

AMERICAN MODEL

For its part, the Director General of EFSF, Klaus Regling, felt it would probably not be a need for the ECB to contribute.

"There are serious concerns about the compatibility with the ECB, because it might not be in accordance with its prohibition of funding markets.So I think it is very unlikely that this takes place, "he said.

A senior official of the ECB for its part said that Europe could follow the example of the United States, who had rewritten their rules during the financial crisis of 2007-2009.

Lorenzo Bini Smaghi, a member of the Executive Board of the ECB has raised the possibility of a European equivalent to the TARP, which had bailed out the banking system, or TALF, who had injected liquidity on the credit market dried up completely.

"I think these two scenarios can be followed and that these two options can solve the problem," he said.

But despite signs that Europe is preparing to act, some doubt that his speech is rather fast or ambitious enough to calm markets.

"The risk is that markets are disappointed by the lack of new specific commitments by countries in the euro area," responded the Swedish Finance Minister Anders Borg.

"Obviously they want to build a bulkhead, but it will take time before we see the necessary decisions fall into place."

On Saturday, the U.S. treasury secretary, Timothy Geithner, the ECB had called to place themselves at the forefront of the fight against crisis.

"The threat of cascading defaults, massive bank withdrawals and spontaneous, a catastrophic risk, all this must be rejected", he had hoped.

The governor of the Brazilian Central Bank has agreed with its meaning.

"The Brazilian experience with the crises of the past suggests that we must deal with problems quickly and consistently. The longer we wait, the longer the risk of contagion and the cost increases," said Alexandre Tombini.

"We must act with ruthless force."

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