The impact of macroeconomic variables on Stock ‎market in United Kingdom

The key objective of this study is to shed light on the relationship between the stock market ‎and macroeconomic factors (Interest rate, Consumer Price Index, Exchange rate) in United ‎Kingdom for the period Pre Global Financial Crisis 2008 (GFC); from January 1999 to ‎December 2007. The finding of Johansen Cointegration, and Granger and Toda Yamamoto ‎‎(TY) Causality tests show respectively that there is no co-integration between variables, no ‎causal relation is detected from macro factors to stock return, and a unidirectional causal ‎relation is depicted from exchange rate to stock price. While from VAR Granger non ‎Causality/Block Exogeneity Wald Tests results, both inflation (INF) and exchange rate ‎growth (EXCG) Granger cause the UK stock market Return. Moreover, the ARDL ‎specification show a stable long run effect of all considered macroeconomic factors on the ‎UK stock price. Precisely, the results of the ECM show that all considered macroeconomic ‎factors drives UK stock price toward long-run equilibrium at a fast speed.

Избыточность в языке

Секция IV. Межъязыковая коммуникация в современном мире и проблемы языкового обучени

Towards the description of the plant virus metagenome of the French Sub-Antarctic Islands

International audienc

Métagénome phytoviral des Iles Kerguelen, vers un inventaire exhaustif des phytovirus dans un écosystème simplifié

National audienc

Recherche non ciblée de virus de plantes par une approche métagénomique : l'exemple des îles subantarctiques françaises

National audienc

Efficient Wastewater Treatment and Removal of Bisphenol A and Diclofenac in Mesocosm Flow Constructed Wetlands Using Granulated Cork as Emerged Substrate

Constructed wetlands (CWs) are considered as low-cost and energy-efficient wastewater treatment systems. Media selection is one of the essential technical keys for their implementation. The purpose of this work was essentially to evaluate the removal efficiency of organic pollution and nitrogen from municipal wastewater (MWW) using different selected media (gravel/gravel amended with granulated cork) in mesocosm horizontal flow constructed wetlands (HFCWs). The results showed that the highest chemical oxygen demand (COD) and ammonium nitrogen removal of 80.53% and 42%, respectively, were recorded in the units filled with gravel amended with cork. The influence of macrophytes (Phragmites australis and Typha angustifolia) was studied and both species showed steeper efficiencies. The system was operated under different hydraulic retention times (HRTs) i.e., 6 h, 24 h, 30 h, and 48 h. The obtained results revealed that the COD removal efficiency was significantly enhanced by up to 38% counter to the ammonium rates when HRT was increased from 6 h to 48 h. Moreover, the removal efficiency of two endocrine-disrupting compounds (EDCs) namely, bisphenol A (BPA) and diclofenac (DCF) was investigated in two selected HFCWs, at 48 h HRT. The achieved results proved the high capacity of cork for BPA and DCF removal with the removal rates of 90.95% and 89.66%, respectively. The results confirmed the role of these engineered systems, especially for EDC removal, which should be further explored