So the markdown is not in store but on its title also

Swallow has never been the spring. Especially when it crosses a true desert. The good resistance of Inditex, the parent company of Zara, in a Spain probably into recession in the third quarter and with 900,000 unemployed more than a year ago, however put the balm to the heart of the investors. The very timid progression of sales of the emblem of the mode of Iberian between August and October, between 0 and 1 in number of equivalent stores, was hailed as a miracle by the Madrid Stock Exchange, filled by the only perspective, reaffirmed yesterday by the group, this soft growth will continue until the end of the current year. Senator it certainly does insult to the 7 increase from a year ago, but Inditex follows with his foot in the spine of an Iberian market which still generates 35 of its activity. And far as the furia, the pace of Spanish is still too rapid to be caught up by the Swedish H & M, down more than 2 over this period, or the American Gap in the red by about 12. Also a clientele always more concerned about its purchasing power but little prepared to cut corners on the profusion of choice, Inditex may continue in crisis to open round of arm of new points of sale to boost its growth 11 at the cost of a slight erosion of margins. So the markdown is not in store, but on its title also.

The two China of the PC

Why the Brazil Yang Yuanqing, President of the Chinese manufacturer of PC Lenovo, certainly did not read Christine Angot, but one would be even tempted to ask the question when he is about to throw his vest on Positivo Informatica, the number one Brazilian. Swallow the leader of the fifth world market of individual PCs would win at Lenovo that 0.6 point part of the overall pie, much too little to catch up on the Taiwanese Acer. The other Chinese of PC, number three world, would still remain 60 larger than him even after the acquisition, absorption of Gateway and Packard-Bell has conferred a good step ahead. The shareholders of the Brazilian having definitely lost faith in positivism after the fall of half of stock market since its introduction two years ago, Lenovo could certainly put low cost some South American guarana in its margins were much needed after the fall of 78 of the profits in the second quarter. But if the stock exchange of Hong Kong welcomed the spirit of conquest by an increase of 26 of Lenovo title in two days, she prefers to cross the China Sea to equip Acer shares that display the lowest decline (28) since January in the computer Quartet.

Sunless tanning

Miracle creams are not worth the rays of the Sun. The sale of Jet Tours and Club Med Gyma to restore color to the results of the Club Mediterranee. But investors would probably prefer a more natural benefit. Gold, despite a strong result increase operational recreation, champion holiday villages would still have been in red in 2008 without these exceptional elements. Certainly, the group chaired by Henri Giscard d'Estaing may put forward the first net gain of clients, over a year since 2001, and the rise in range which inflates the operational profit. This may be sufficient to allay the concerns of shareholders in this period of uncertainty. The decline in bookings for the 2008-2009 winter mainly concerns Europe provides three quarters of the result. In addition, the robust program implemented savings will result, outside the decrease in the duration of opening of the villages 2-3 tridents, by an offset in the program of Upselling, spearheaded by the relief of the group. Family strong contribution customer, on which the Club has better through the crisis, will have to wait to see the choice of its destinations increase. Under these conditions, the title which has lost 70 in one year may remain light beyond the winter.