On Friday, the euro continues to trade under pressure to 12:30 GMT of its exchange rate was U.S. $ 1.313. At the exchange rate under pressure uncertainty in economic policy in Europe and weak data statements of European companies.
Net loss Europe’s largest airline Air France-KLM Group in the I quarter of 2012. increased by 0.3% and amounted to 368 million euros. These data are contained in the published financial statements of the company. Revenues for the reporting period increased by 6% and amounted to 5.65 billion euros against 5.33 billion euros a year earlier. Losses of Air France-KLM before tax for the quarter totaled 308 million euros, decreasing by 41.9% against the pre-tax loss for the January-March 2011. Recorded at 530 million euros.
negative background a little diluted neutral Report BNP Paribas. Net profit of the largest French bank for the I quarter of 2012. increased by 9.6% – up to 2.87 billion euros against 2.62 billion euros a year earlier. These data are contained in the financial report released BNP Paribas. Revenues for the last quarter, meanwhile dropped by 15.4% to 9.89 billion euros, while a year earlier the figure was 11.69 billion euros. Operating profit also declined, reaching 2.09 billion euros, up 48.3% lower than that recorded in the I quarter of 2011. at 4.04 billion euros.
Leading French companies slowed the pace of growth, indicating that the continuing deterioration of economic condition of the EU. In the future, it threatens to decrease the tax base and an even greater deterioration of the provisions of both the borrowers.
Royal Bank at a loss
Speaking reporting of leading European companies, we can not noted that the net loss of British banking group Royal Bank of Scotland (RBS) in the I quarter of 2012. amounted to 1.52 billion pounds (2.47 billion dollars), exceeding the loss almost tripled over the same period last year, amounting to 528 million pounds. This was reported in the published financial report RBS. RBS is due to a net loss of “paper” losses at 2.46 billion pounds, accounted for in the revaluation of the bank’s own debt. Excluding revaluation of pre-tax profit of RBS for the I quarter was 1.05 billion pounds ($ 1.7 billion).
data from the RBS affected the pound sterling, he began to fall in line with the euro and 12: 39 Moscow has reached a point of U.S. $ 1.617.
European system continues to shake. The lack of economic growth and the huge dependence of economies on fiscal stimulus have done their job. Countries can no longer hold, but can not spend less. The independent monetary system solve this problem by printing money, but this option does not have European states. As if they do not want to print the money they could not. Although this option is the UK and the U.S., which it is actively used, making the pound and the dollar weak against the euro at the moment, but gives the British and American economies in the hope of growth. Meanwhile, the euro area to look for non-monetary way out of debt, which is much more complicated. In addition, it puts at risk the prospects euros.
May 4, 2012