Half an hour after the bell, stock markets were slightly widened their losses after the President of the European Central Bank (ECB) Mario Draghi said the downside risks to the economy increased. Investors are waiting to learn more about a response of Europeans to the debt crisis to position.

"The increase related to the decision of central banks yesterday allowed (market) to heal his wounds with a high gain of the euro and stock markets.The real question is: this rule does the real problems in Europe? No, not at all, "Judge Michael Hewson, an analyst at CMC Markets in London." This makes the return to the competitiveness of European peripheral countries due to the strengthening of the euro.

Finance Minister (Chancellor of the Exchequer), George Osborne, warned that the UK economy might slide into recession if the debt crisis was not quickly resolved.

"If the rest of Europe is heading into recession, it may be difficult to avoid in the UK," he told parliament in his address to the biannual budget.

Orbeo, based in Paris, was founded in 2006 at par by the bank and the French chemist, in the context of the creation of carbon markets in 2005 and the implementation of the Kyoto Protocol in Europe.

The Solvay has already acquired half of this year by acquiring Rhodia Orbeo.When it has, by January 1, acquired the participation of SocGen, it will therefore control the whole.

"Rhodia Energy wishes to strengthen its commitment to the fight against climate change by making full use of industrial know-how of Rhodia and Solvay and expanding its offering in the integrated management of energy and CO2 emissions," said Solvay in a statement.

The terms of the agreement were not disclosed

An analyst with SocGen said the agreement had no connection with the collapse in prices of units of certified emission reductions, which reached Friday morning a new record low of 4.40 euros.

The news is almost unnoticed but it is huge. This is another step in Beijing's policy to internationalize the Chinese currency. The Chinese government seeks to ensure that the renminbi becomes progressively currency regulations of global trade flows. He also wants it to become a reserve currency, equal to the dollar and the euro.

The first European bank also warned that it could leave the United Kingdom, where its headquarters for more than twenty years, due to new rules on capital that could cost him dearly.

Over the period from July to September, HSBC made a profit taxable underlying decline from 36% to $ 3 billion (2.18 billion euros).

The bank has already cut 5,000 positions from the first quarter of the 30,000 cuts announced by 2013.

HSBC said its provisions for credit risks, and charges were up $ 700 million at quarter end compared to their levels of last year at this time, partly because of the moratorium on foreclosures in the the United States.

"The outlook for the global economy are very difficult, as problems in developed markets beginning to affect the growth rate worldwide," said HSBC.

Chancellor Angela Merkel ended the discussion at a joint press conference with Nicolas Sarkozy, saying that the finance ministers of the euro area were working on two models to strengthen the capacity of the European Financial Stability Fund (EFSF).

"The two do not include the European Central Bank because the treaties do not allow it," she said.

Nicolas Sarkozy for his part said that France "is as much" the independence of the ECB as Germany and he returned not to the Heads of State and Government instruct the guarantor of stability of the euro.

France is still defended publicly on the eve of the weekend to grant a banking license in EFSF, which would have the advantage of giving unlimited access to liquidity from the ECB.

It could rely on the support of 14 of the 17 countries in the euro area, Italy, Spain and Belgium being advanced against a Germany that had only the Netherlands and Finland to its sides.

While the looming G20 summit in Cannes in early November, the United States, the major emerging countries and the International Monetary Fund (IMF) also grew in the wings for the firewall erected by Europeans to be the strongest possible and involve the institution in Frankfurt.

"The problem is not Greece, but installing an effective firewall to prevent contagion to the rest of the euro area," summarized a source close to the G20, which emphasizes the risks posed by European dithering on the global recovery.

"For this, we must size and speed (…) Only the ECB has the size and speed of action needed," the source said.

FAST ACTION

Another source said that if the French Minister of Economy, Baroin, suggested Friday night flexibility on this issue was first to open the door to possible trade-offs between different aspects of the response to crisis in which STRIPS Europeans.

Because if the Germans are opposed to the transformation of the European Financial Stability Fund (EFSF) in the bank and to leaving the ECB to become lender of last resort in Europe, the French refused to endorse them on the discount of 60% Berlin demanded that the Greek bonds.

Remains unknown: the position of the European Central Bank after Jean-Claude Trichet has left office, October 31.

The French are hostile to the evolution of double EFSF and the institution of Frankfurt but his successor, the Italian Mario Draghi, the current governor of the Bank of Italy and considered more pragmatic, there is not necessarily opposed.

"It is likely that Italy is on the side of France against the toughest positions defended by Germany and the Netherlands", do you confirm the Italian Treasury.

The arrival of the "pragmatic" Jörg Asmussen to the Board of the ECB to replace the "hawk" Jürgen Stark as the representative of Germany as well as a possible French digitally replacing Jean-Claude Trichet could also influence the position of guardian of the euro.

In the past, the ECB had similarly plot of "red lines", as its absolute refusal to buy government bonds markets or to consider a discount of Greek debt to be forced to abandon with worsening of the crisis.

Meanwhile, two solutions remain on the table to maximize the firepower of the EFSF: Germany and the ECB's call for a partial insurance mechanism sovereign debt of countries in the euro area.

The alternative would be to create a special vehicle powered by such banks as well as foreign sovereign wealth funds and resources which the Fund would be available to intervene in the secondary market.

The benchmark Shanghai Stock Exchange has sold nearly 17% since the beginning of the year in part because of fears of monetary tightening and a slowdown in the Chinese economy.

The purchase of shares started Monday is the first undertaken by Central Huijin Investment since the financial crisis of 2008-2009 and are the first step to support the stock market officially recognized by the authorities.

Huijin is a subsidiary of sovereign fund China Investment Corp, rich $ 400 billion, already the largest shareholder of the first four banks.It began on Monday to buy back shares in the past, reported the official news agency Xinhua after the closure of local markets.

"In fact, the government acts to show his confidence because he believes that current valuations are a bit below the reasonable level," said Victor Wang, a Chinese banking analyst for Macquarie Securities.

Agricultural Bank of China and Industrial and Commercial Bank of China stated later that Huijin had bought 39.1 million and 14.6 million respectively of their shares listed in Shanghai.

HONG KONG ENDS IN NET INCREASE

Huijin intends to continue increasing its investments within a year, said the two groups in the stock exchanges of Hong Kong.

The Hang Seng Index in Hong Kong, where stock markets close later than those in Shanghai and Shenzhen, has made significant progress in recent trading following the announcement of investment Huijin.

Beijing authorities had already been used to support Huijin over the banks in September 2008. At the time, the Shanghai Stock Exchange had rebounded 9.5% after the announcement of these purchases, a field it had abandoned over the following weeks.

Last month, Chinese media had reported that the public pension fund received approval to invest 10 billion yuan (1.6 billion dollars) on the local stock market.And in August, official media had reported that Chinese insurers mostly controlled by the state had invested billions in the stock market.

Some analysts believe that the government could also hinder the IPO, as it did in the past in times of stock market slump.

At 9:05, the CAC 40 index advances 2.57% at 2923.78 points.

The London Stock Exchange gained 2.27%, 2.15% that of Frankfurt and Milan up 1.34%.

The pan-European Euro Stoxx 50 index rose 2.1%

European banks index was up 2.98%

The Paris Bourse opened sharply lower Monday, September 26, penalized by the cacophony of the debt crisis in the eurozone and fears that weigh on the financial soundness of the banking sector. The CAC 40 gave 1.97% to 2754.82 points at the opening. The banking sector, weighed down by fears about a possible recapitalization of some institutions, retreated. At 9:04 (7:04 GMT), BNP Paribas lost 3.99% to 24.30 euros, Crédit Agricole 2.69% to 4.31 euros and Societe Generale 2.67% to 16.20 euros.

Markets deem disappointing the last meeting of G20 finance ministers. The most powerful countries in the world committed themselves Thursday, September 22 in Washington to support the growth faltering and banks weakened.But they erupted into the open their differences on policy to monitor the crisis. The weekend was marked by numerous statements on the crisis in Greece, each trying to defuse the bomb that makes financial markets falter this summer, increasing the pressure up for the euro area quickly finds a solution to the crisis.

Faced with this cacophony, all the European stock markets started the week by sinking again. The Frankfurt Stock Exchange opened on a fall of 1.31%, 1.78% from London, Milan and Madrid by 1.6% to 1.88%. Asia mistrust was also very high, with the Tokyo Stock Exchange fell by 2.17% in closing the soaring yen in addition to ongoing concerns about global growth.The Stock Exchange of Thailand also plunged more than 8% early Monday afternoon.

To a capacity of EFSF

The Europeans are considering equipping their Emergency Fund (EFSF) of additional instruments, beyond those agreed in July to give "more power" to the crisis of debt, said the European Commissioner for Economic Affairs Olli Rehn, in an interview with the German daily Die Welt published Monday. The EFSF, created in spring 2010 to help countries in the euro area in trouble, has seen its envelope inflated and in July, his duties expanded to include the option to buy the debt of states in need of market "secondary", where it traded between investors. Decisions made July 21 in this regard by EU leaders are being approved by the countries of the euro area.

But the debt crisis that has shaken the euro area has worsened since July. It is no longer limited to so-called "devices" of the monetary union as Greece Portugal and Ireland. Italy is found in the eye of the storm, Spain is in a delicate situation and even France is not immune to the turmoil in the banking sector. This necessitates a kidney EFSF even stronger in the eyes of many European leaders.

Among the ideas discussed, for example, the guarantees provided by the European Relief Fund to the European Central Bank so that it can further support Italy and Spain by buying larger amounts of their obligations in the market. Which would be a dike around the two countries.Or loans secured by the EFSF, via the European Central Bank, for investors who buy the debt of troubled countries. In his interview with Die Welt, Rehn did not go into details.

A spokesman for the Greek government has denied reports the newspaper Ta Nea and Ethnos, which state that the other two scenarios are disordered or defective, or the implementation of the second rescue plan 109 billion euros agreed on 21 July.

Citing witness a speech given by Evangelos Venizelos, Ta Nea reported that the Greek Finance Minister would also have considered "very dangerous" for Athens to claim a discount of 50%."This would require a large coordinated effort," would have said.

A spokesman for the Ministry of Finance said not to be able to comment on articles, but a spokesman for the Greek government, Angelos Tolk, has denied.

"What we choose (for Greece) is to stay in the heart of Europe with the implementation of the decisions of July 21.The big challenge is to avoid failure or collapse. "

The Socialist deputy Tzakri Theodora, who says he listened to the speech of Evangelos Venizelos cited by the press, also denied that he had discussed the scenario with a discount of 50%.

Greek Finance Minister is on his way to Washington for a meeting with the inspectors of the mission the European Union and International Monetary Fund, European Central Bank in Greece.

Some European banks have agreed to contribute to the second bailout of Greece set July 21 by passing a 21% discount on bonds maturing before 2020.

The CEO of Deutsche Bank Josef Ackermann said earlier this month that many European banks would not stand a discount of these securities at the current market value.