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11 août 2011 4 11 /08 /août /2011 16:19

Avant toute lecture, je vous invite à lire le texte sur le nytimes directement car c'est un excellent exercice de préparation à la version pour passer les concours. Ensuite, revenez sur le blog et voyez les mots qui m'ont posé des difficultés, ce seront peut être les mêmes que les votres ;).

Wall Street Stocks Jump at Start of Trading


Stocks (actions) on Wall Street surged higher les actions à Wall street (ont fortement augmentées, "à la hausse") at the start of trading on Thursday (à l'ouverture des marchés ce jeudi), setting the stage for what could be another unpredictable trading session (mettant en scène ce qui pourrait être sur une nouvelle séance imprévisible) in a week of wide market swings (au cours d'une semaine de grandes variations).

Stocks this week have been alternating between steep (forts, puissants) gains and losses to an extent (to such an extent signifie à tel point que) that has not been seen since March 2009. They finished sharply (nettement, brusquement) lower on Wednesday, with each of the three main indexes dropping more than 4 percent, generally wiping out (anéantissant) the gains of the previous day.

In early trading on Wall Street, the Standard & Poor’s 500-stock index, the Dow Jones industrial average and the Nasdaq composite were each up roughly 1 percent. Financial stocks rose (les actions financières allaient à la hausse).

The gains came despite declines in European indexes, led by sharp drops (brusque baisse) in French bank stocks.

Gold pushed to another high (seuil) amid continued anxiety in the financial markets (amid = parmi, je traduirais par "alimentant l'anxiété constante des marchés").

Europe’s debt crisis has spread to nations at the heart of the euro zone, including Italy and France. That has added to the uncertainty in markets that were already anxious over the growth outlook  for the global economy (prévisions sur la croissance de l'économie mondiale).

After strong openings, the Euro Stoxx 50 index of euro zone blue chips was down 0.92 percent in afternoon trading and the FTSE 100 in London was down 0.6 percent.

Société Générale fell 4 percent, a day after giving up almost 15 percent of its value amid worries about the debt and economic woes (malheurs, great sadness) of Europe and the United States. Frédéric Oudéa, the bank’s chief executive (directeur général), told Le Figaro in an interview published Thursday that the bank had “suffered (subit) a series of attacks in the market,” on the basis of rumors about its financial condition that he denied “most vigorously.”

Those fears were ratcheted up (alimentées) a notch Thursday by a report from Reuters, which did not identify its sources, that said at least one bank in Asia had cuts its credit lines to the major (principale) French banks and that others were reviewing their lines because of perceived risks. If confirmed, that would represent a worrying escalation of the crisis, since interbank  lending is the lifeblood of the global financial system (interbank = banque internationale, lend évoque l'idée de l'aide internationale bancaire, mais lifeblood, littéralement c'est le sang de la vie... je perçois le sens sans parvenir à le traduire ; L'aide de l'ensemble du système financier serait dans ce contexte indispensable???, the life blood pourrait signifier "le nerf de la guerre"?).

Société Générale called Thursday on French market regulators to “investigate the origin of these rumors that have gravely impacted the interest of its shareholders (capitaux propres).”

BNP Paribas, the biggest French bank, fell 4 percent. Crédit Agricole was down 2 percent. The Italian lender (établissement prêteur) Unicredit was down 7 percent.

Christian Noyer, the governor of the Bank of France and a member of the European Central Bank’s governing council, addressed the market concerns in a statement, saying the first-half results of French banks had “confirmed their solidity in a difficult economic environment, thanks to rigorous risk management and a universal banking model based on diversified businesses.”

The banks’ capital levels are adequate, Mr. Noyer said, noting that they had recently passed stress tests.

Ulrich Leuchtmann, head of foreign exchange research at Commerzbank in Frankfurt, said the market is “very much stressed.”

“Some people are starting to revise down their economic forecasts, and there’s not much room to maneuver” for policy makers at the Federal Reserve and European Central Bank, he said. “That’s what’s leading to the risk aversion.”

After a steep fall on Wall Street on Wednesday, Asian markets slipped again. But some later turned positive, and the sell-off in those that fell was not nearly as pronounced as the more than 4 percent drop in the major United States indexes.

The Hang Seng index in Hong Kong fell almost 1 percent, while the Nikkei 225 in Japan closed down 0.6 percent.

Gold futures briefly topped $1,817.60 an ounce, its highest ever in nominal terms, before receding to about $1,794.20. Adjusted for inflation, the record gold price would be closer to $2,400 an ounce, according to Capital Economics.

Crude oil futures in the United States were down 1 percent at $82.07 a barrel.

The euro rose to $1.4137 from $1.4178 late Tuesday in New York, while the British poundrose to $1.6140 from $1.6134.

The dollar fell to 76.54 yen from 76.86 yen, not far above its all-time low against the Japanese currency. But it rose to 0.7382 Swiss francs from 0.7266 francs, a day after the Swiss National Bank said it would add new liquidity to the market to weaken the currency. In an interview published Thursday, the bank’s vice president suggested that a short-term peg to the euro might help to arrest the franc’s gains, which hurt Switzerland’s exporters.

The yield on the U.S. 10-year Treasury fell 0.08 percentage points to 2.19 percent. German 10-year bunds were trading at 2.18 percent, down 1 basis point, while bonds of Italy were down 6 basis points to 5.01 percent and Spain was down 5 basis points at 4.93 percent.

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  • Thomas Bonne
  • Thomas Bonne
Titulaire d'un Master administration de l'entreprise, d'une licence de droit public 
Lauréat des concours administratif de rédacteur territorial 2011 et d'attaché territorial 2012 et Inspecteur des finances publiques
  • Thomas Bonne Titulaire d'un Master administration de l'entreprise, d'une licence de droit public Lauréat des concours administratif de rédacteur territorial 2011 et d'attaché territorial 2012 et Inspecteur des finances publiques