World News – International Headlines, Stories

• oil wells in a state "in the coming days"

Oil may be back soon in Libya. The country should rehabilitate wells "in the coming days," announced the new oil minister, Ali Tarhouni, at a press conference in Tripoli. "The situation will not return immediately to normal, but almost," he added.

In Geneva, the World Food Programme (WFP) has launched a tender to supply 250,000 tons of gasoline provisional Libyan authorities to deal with the most urgent needs of the population after six months of civil war .

• Libya buys French wheat with frozen assets

The interim government in power in Libya has signed two contracts for the purchase of French wheat with assets released this month by France, according to sources close to the negotiations.The French Ministry of Foreign Affairs French announced in early August its intention to release $ 259 million to make available to the National Transition Council to rebuild the country after six months of civil war.

Each contract weighs at least 22 million to about 60,000 tonnes of wheat, a senior leader of the French grain trader Bellows, who signed one of the two contracts.

• A four-day ultimatum issued to supporters of Gaddafi

The rebel leader Libyan Tuesday sent an ultimatum expires Saturday supporters of Muammar Gaddafi in the last strongholds of the regime that they surrender, otherwise they would face military operations my credit score.

The head of the National Transitional Council (CNT), Abdeljalil Moustapha said that negotiations were underway with officials of those cities to try to secure their surrender without a fight. "This window of opportunity will expire at the end of the Eid al-Fitr. From Saturday, if a peaceful outcome is still not to the field, we can make a difference militarily, "said Abdeljalil. The launch of the final battle in Libya is "imminent", said the military spokesman of the rebellion Bani Omar Ahmed Benghazi in the east.

• Quiet on the front of Sirte, NATO continues its mission

The situation was calm on Tuesday morning on the front east of Sirte, Gaddafi's stronghold in central Libya. The rebels have increased by about ten kilometers and are line was about 40 km west of Ben Jawad beyond the hamlet of UMR Gandil.

Sirte Sunday has been caught between rebel forces, backed by NATO air strikes. The Atlantic alliance has reiterated its support Tuesday morning the insurgents, saying that his mission would continue "as long as the threat persists."

In May 2010, McDonald's France was a sensation with a TV spot in which a teenager going on a phone call to her boyfriend before having lunch with his father, who explains that, as he did at that age, it could be a 'real card with the babes. " Advertising has been around the world. In the original French with subtitles in English, it even triggered a controversy in the United States. The conservative Fox News channel has even made a field day. Sacrilege: great American brand in the gay friendly side!

In this spot, designed by BETC Euro RSCG, is not known if the son ends up coming out to her.But the statement by McDonald's, which has declined in all genres, is very clear that you're straight or gay, black or white, young or old, rich or poor, we do not judge, "just like you are. "

Before, we criticized the pub not to be representative of "visible minorities", not to be sufficiently "black-blanc-beur". Today, the debate has shifted to the "non-visible minorities" and still gets carried away on the issues of communalism, which are still taboo in France.

10% of "non-white"

The proportion of ads depicting characters perceived as "non-white" compared to the total advertising (TV, press and poster) distributed and reviewed by the Regulatory Authority's professional advertising (ARPP) reached 7% in 2008 against 3% in 2005, and this share has increased further since then, around 10%."Racial minorities are now represented quite rightly, said Ingrid Zerbib, image editor for the magazine Strategies, who viewed all the ads that come out in France. The next step is in progress. Homosexuals, the disabled and the sick are increasingly visible. "

McDonald's campaign has been emulated. Krys posted Orangina or gays in their pubs. Personalities with disabilities such as Down syndrome Pascal Duquenne for the virtual mobile operator Simyo, or the blind Gilbert Montagne, for heating specialist camera, turned in spots. Diseases are also commonplace."You can be sick without stigma," said Anne Ramon, communications director of the National Cancer Institute (INCA), the last campaign "I am a person, not a cancer," conducted by the agency La Chose , seeks to change social perceptions of one of the most widespread diseases in France.

In another, more commonplace, but also an affirmation of reality: that of the Community consumption, with the campaign launched last year by the brand halal Isla Delight "Proudly halal." On the occasion of Ramadan, for the first time in France, the brand was as diverse a reference food, free of any cliché. "This campaign is a marker, decrypts the marketing consultant Jean-Jacques Urvoy.The brand was treated as the French leader Charal. "On a halal market estimated at over 5 billion euros – and therefore highly competitive – the whole trick of the ad was to challenge the EU labeling, while displaying a rooster and a Charolais beef! A war of images in a way.

The concern again lead the Paris Bourse. The CAC 40 was launched on the day down 0.37% to 3064.49 points. But around 9:40, the fall has accelerated: the Paris index of 3.44% to unscrew 2970.13 points, releasing the threshold of 3000 points. The CAC has, however, resumed in the afternoon around 16:30 it is in the green briefly before returning to equilibrium, yielding 0.10% at 3072.88 points. London erases even his losses: the FTSE-100 gained 0.22%. In Frankfurt, the Dax lost no more than 0.39%. Madrid still loose 1.38%, Milan were down 0.53% and 0.57% in Zurich. Across the Atlantic, Wall Street returns to the green: the Dow Jones gained 0.29% and the Nasdaq 0.93%.

Operators are struggling to recover from their emotions after the new European stock markets plummeting and U.S. Thursday. This morning, Asian stock market sent negative signals with indices in very sharp drop.This bad mood due to a surge in concern about the state of the global economy, reinforced by poor indicators of the Atlantic. Bad index measuring the Philadelphia Fed manufacturing activity in the region, lower sales of existing homes in July, new jobless claims rising again during the second week of August … All signs of the apparent stagnation of growth in the United States.

Concerns about U.S. growth fears add to the debt crisis in Europe, European banks are the first to bear the brunt. In its Thursday edition, The Wall Street Journal reported on fears the U.S. Federal Reserve on the liquidity of European banks.And for the first time since February, the European Central Bank (ECB) has given a major dollar loan to a European bank, whose identity was not revealed. An action that reinforces doubts about the ability of banks to refinance.

Morgan Stanley has added his two cents to panic, explaining that she perceived the United States and Europe as "dangerously close to recession." The President of the European Union, Herman van Rompuy, tried Thursday to calm the mind by ensuring that there was "no new recession" in sight. And this morning, Chinese Vice President Xi Jinping has reaffirmed that the U.S. economy was "resilient". In vain.

"The bears are back"

"The bears (pessimistic players, ie) are back in force that night, after disappointing U.S. economic indicators and renewed fears about the stability of European banks, which prompted investors to push the button sales," said Ben Potter, an analyst at IG Markets in Australia. "There seems to be getting ready for a weekend very ugly, with a market dominated once again by fear and panic," he added.

Gold reached a new record Friday morning in Asia, to 1,837.50 dollars per ounce, due to the concern. And oil, which fell 6% in New York yesterday, continues to fall in morning trading.A barrel of "light sweet crude" for September delivery lost 1.69 dollars to 80.69 dollars while that of Brent North Sea crude for October delivery gave 68 cents to 106.31 dollars.

No significant indicator that could reverse the trend, are expected on Friday.

Values ​​to follow

The banking sector

European financial stocks, which had been rolled by a renewed tensions in the interbank market and concerns about the short-term refinancing of the banks were still under attack this morning.BNP Paribas (-3.01% to 33.18 euros), Natixis (0.97% to 2.924 euros), Credit Agricole (-0.40% to 6.203 euros), Societe Generale (-0.46% at 21 , 50 euros) and AXA (-1.42% to 10.405 euros), however, have erased some of their losses in the afternoon.

Danone: -2.21% to 45.835 euros

Nestlé, the group became a favorite activity for infant formula, Wyeth, Pfizer subsidiary, valued at approximately ten billion dollars (seven billion euros), officials said a source familiar with the bank.

Technip: -0.98% to 59.38 euros

The French engineering group said it had received a letter of intent on the part of the American oil company Anadarko for the construction of an offshore platform for the Gulf of Mexico.

All weekend, they multiplied the meetings and news: the political leaders of industrialized countries have mobilized to show that they had taken stock of efforts to engage to address concerns about the state of their finances. What to try to reassure markets, worried after the announcement Friday after the close of a deterioration in the rating of sovereign debt of the United States by Standard & Poor's, but also disturbed by the difficulties faced by countries the euro area to implement the solutions to the crisis in Greece. With always in sight the risk of contagion of debt to other countries.

In the wake of the Asian stock markets, down sharply this morning, the benchmark index in Paris should begin his week on a further decline in the eleventh row. Unheard of since the creation of the CAC 40 index in 1987.At 8:15, the futures on the CAC 40 was down 2.18% to 3209 points. Elsewhere in Europe, the future of the Eurostoxx 50, Dax, German and English are the Footsie down 1.9% to 2.4%.

Of course, Angela Merkel and Nicolas Sarkozy reiterated yesterday their determination to ensure that the bailout of Greece on 21 July be adopted before the end of September. They also praised the efforts of Spain and especially those of Italy, two weak links in the euro area at present. In addition, the European Central Bank (ECB) said it would implement "active" its buyback program obligations. However, this measure made and announced last week by Jean-Claude Trichet, president of the institution, had absolutely convinced investors.On the contrary …

Next on the list?

Moreover, the decision of Standard & Poor's on the U.S. should continue to haunt the minds of the markets, despite a weekend to "digest" the news. Now that the world's largest economy, long considered one of the most reliable borrowers, is not as well marked, which could consider itself safe from degradation? In France, this concern should be limited, however, the chief economist for Europe, Standard & Poor's Jean-Michel Six, who said Saturday that the agency maintained the "AAA" of France, in a stable outlook.

Before testing the first effects on the markets of this political mobilization, the announcement of the ECB on repurchase of bonds has already led to support the euro against the dollar saving account pay day loan.At 7 o'clock this morning, the euro was worth 1.4321 dollars, against 1.4281 dollars on Friday night, after the dollar rose to 1.4370 on Sunday night. But above all concerns macroeconomic benefit to gold, which recorded a new record Monday on the market in Hong Kong, dying for the first time the maximum 1700 dollars an ounce, and benefiting fully from his safe haven status.

The sharp drop in oil

Instead, the side of the oil, oil prices continued to tumble on Monday. Result of numerous concerns about a possible global recession, prices show a sharp decline.In morning trading in Asia, a barrel of "light sweet crude" lost 2.59 dollars to 84.29 dollars, while that of Brent North Sea crude for September delivery fell by 2.48 dollars to 106.89 dollars.

Finally, the political mobilization should remain in force throughout the day, and guide the trend in European markets as U.S.. For the side of the macroeconomic data, the news will remain poor n this first day of the week. Unlike last week, no statistics across the Atlantic will not give further details Monday about the health of the U.S. economy or the risk of a possible recession in the country. In France alone are expected to 8:30 business surveys from INSEE in the industry and market services for the month of July.

As for values ​​to follow, business publications are scarce this week.

Archos.The manufacturer of tablet detail its annual accounts after the market closes.

Carmat. The heart specialist articificiel total announced Sunday evening the success of its capital increase launched from July 13 to 29. The former subsidiary of EADS has raised 29.3 million euros, which will fund the first clinical trials on humans.

GDF Suez. The group of energy and services has sealed, according to Les Echos, a strategic Partenaris with the Chinese sovereign wealth fund CIC, which would lead to an acquisition of a 30% interest in the exploration and production arm of French.

After a week marked by the beginning of a very nervous investors, the Paris stock market is still under pressure on Tuesday, still confused about how to react against the agreement reached Sunday night in the United States on raising the ceiling of the debt. The CAC 40 was down at the opening of 0.52% to 3569.26 points before giving further 0.45% to 3571.86 points in mid-session.

The benchmark index of the Paris this morning reached a new session low of the year at 3553.54 points. Yesterday, he finished in a very sharp decline (-2.27%), despite an optimistic start of the session after Barack Obama announced that a compromise was finally reached between Republicans and Democrats on the measures to be taken to reduce 'U.S. debt, after weeks of negotiations.The House of Representatives has also tonight approved the agreement, which will, from this Tuesday evening, subject to the U.S. Senate.

The Cac 40 was finished on Monday, under the 3600 points, to 3588.05 points, the lowest since August 2010. In addition to the uncertainty on the adoption by Congress of a plan considered "a minima", investors were frightened by the publication of an indicator of U.S. industrial activity is very disappointing. What revived fears about the strength of the growth of world's largest economy.

Therefore account for these concerns again the minds of investors on Tuesday, while voting in the night by the House of Representatives from the increased ceiling of U.S. debt relieves some of the final adoption of the plan.The Senate vote, expected on Tuesday to 18 hours, should not influence the market today.

In addition, rating agencies have not yet given their opinion on the common ground found in extremis by the elected Democrats and Republicans, especially regarding proposed budget cuts to reduce the deficit (2.5 trillion dollars over 10 years) . This raises the specter of a possible degradation of the maximum always assigned to the U.S. sovereign debt (AAA).

Elsewhere in Europe these concerns also influence the trend. In London, the FTSE 100 was down 0.56% to 5742.24 points while in Frankfurt the Dax moves ever in the 7000 points mark, after the results poorly received by the market.Metro disappointed.

The long-awaited economic figures

Beyond the issue of debt, new macroeconomic indicators are expected across the Atlantic on Tuesday and could more severely curb the trend. At 14:30 will be unveiled including the revenues and expenditures of U.S. households for the month of June while vehicle sales for the month of July should be reported late this evening.

Meanwhile, in Europe, producer prices remained stable in June, having increased by almost 6% year on year, according to data released Tuesday by the EU statistics office Eurostat. In May, prices fell 0.2% after 19 months of consecutive increases (5.9% increase).

On the currency front, the markets vary little, still mixed on how to deal with an agreement reached in the snatch.The euro was virtually unchanged against the dollar on Tuesday morning after its decline yesterday, and while the vote on raising the debt ceiling is expected in the U.S. Senate. In mid-session, the European currency was worth 1.42 dollars, a slight decline of 0.36%.

The side of the barrel, and the day after a volatile session marked by swings of the agreement on U.S. oil prices rose slightly off again Tuesday morning in electronic trading in Asia. In morning trading, a barrel of "light sweet crude" for delivery in September yielded 0.85% to 94.08 dollars.

As for values ​​to follow

Alcatel-Lucent rebounds strongly, leading the CAC 40 in mid-session (1.56% to 2.66 euros), while Schneider Electric last displayed index (-4.05% to 96 euros) .

Early publications of the banks, BNP bounces in mid-session

The pace of publication of results of companies this week is calmer. Note, however, launched the quarterly publications of the major banks, with BNP Paribas, which reported this morning results below expectations. The first French bank missed the consensus in the second quarter due to supply and charges (560 million) related to the background of aid to Greece and a weaker than expected growth in income.Consequence of this disappointment, the stock has fallen sharply this morning, before recovering in mid-term: shortly after noon, BNP Paribas 0.56% clawing at 43.92 euros, Societe Generale advance of 1.35% to 33.75 euros (bank accounts will detail on Wednesday), Natixis wins 0.48%, to 3.12 euros, but sells Axa 0.51% to 12.74% (results on Thursday).

NYSE-Euronext (-0.89% at 22, 75 euros). The exchange operator has issued Tuesday a quarterly net profit down 16% to $ 154 million (106.83 million euros), reflecting a decline in trading volumes in equity markets and derivatives markets in New York and Europe.

Schneider Electric (-4.13% to 95.092 euros) announced Tuesday the resignation of Anand Mahindra's term as a member of the Supervisory Board due to potential conflicts of interest between the French and Indian group Mahindra & Mahindra.These conflicts could "arise from the development of these two groups in the distribution business in India," said in a statement the French specialist of electrical equipment.

The specialty chemical Arkema (-3.18% to 64.19 euros) should be very surrounded on Tuesday after the group announced an increase of 33% of its EBITDA (EBITDA) quarterly, which reaches a record 320 million euros.Thierry group provides the Hénaff for 2011 an increase of about 30% of its EBITDA.

EADS (-1.71% to 23.54 euros), despite having a large cash flow, it does not squander his money by overpaying their prey, said Monday its director of acquisitions in an interview to Reuters, after announcing a fourth acquisition this year for the European aerospace giant.

HSBC (2.01% to 7.09 euros) the British bank, one of the first in Europe, will hire 15,000 people in emerging markets over the next three years, said a spokesman Tuesday, the day after the announcement of the removal of 30 000 jobs worldwide.

Gameloft (-0.21% to 4.74 euros) confirmed late Monday its growth targets in sales and margins in 2011 after a consolidated turnover up 11% to 37.4 million euros the second quarter.The weak dollar has had a negative impact on sales, said the publisher of mobile games.

Note that DnxCorp (ex-Dreamnex, -1.99% to 19.75 euros) will unveil its after market sales for the second quarter.

It's time for Spain to be in the sights of Moody's. The agency placed the credit rating of the country under surveillance for any reduction, said a statement issued Friday, indicating a downward revision of the country's Aa2 rating one notch lower. The agency believes that the difficulties of Madrid to borrow at an acceptable rate will escalate following the second plan the rescue of Greece, who "made history" involving the private sector and a marked increased risk for investors bondholders fragile in the euro area.

The rating agency also advanced a weak growth of Spain and fiscal slippages in some areas of the country, adding that it would present risks, burdens on efforts to reduce deficits, which have recently been undertaken by Madrid .

Highlighting the challenges that the Spanish government will face for fiscal consolidation and improving the fiscal situation of the Spanish provinces, Moody's has given the banking regulator Spanish Fondo de Reestructuración Ordenada Bancaria (FROB) a rating Aa2, providing a possible degradation of the latter in the future.

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"The five weaknesses of the Greek plan

"SPECIAL – Europe, States facing bankruptcy

While European leaders are working on the Greek crisis to find a solution by Thursday, the Party of European Socialists (PES) advance his proposals. In a joint statement, Martine Aubry and 12 other European socialist leaders have agreed on a roadmap. The Socialists are in power in particular Spain and Greece.

The PES associated himself with the idea of ​​Eurobonds. Concretely, this would be to issue bonds to 17 common European states in the euro area. According to this roadmap, this mechanism would allow to pool risks and protect the weaker states.

In an article published in The Journal of separate Sunday, the candidate for the primary PS Francois Hollande also defends the system of Eurobonds. "They are an effective way to raise money at lower cost," said he.He added that this could be used to "buy Greek debt delisted and to speculators at their own game", the latter focusing on a bankrupt country.

Buy Greek bonds, which are worth more thing: this last idea was put on the table by Germany, reports the magazine Der Spiegel to be published Monday. This technique would save 30 billion euros.

Mutual guarantees

European Socialists also advocate a system of mutual guarantees of European debts to "help the countries attacked by speculators" and would help them "to the costs of stabilization." The PSE also blames rating agencies, criticized for their very recent decisions concerning Greece and Portugal. The party wants to "limit their power" and forbids the creation of a European rating agency.

François Hollande, who associated himself with the JDD many of the proposals of the PES, also calls for merging the functions of president of the European Council (now Herman van Rompuy) and President of the Commission (José Manuel Barroso) to take the head of a real "economic government" of Europe.

"Dangerous" statements

The budget minister Valérie Pécresse denounced statements Socialist Sunday morning, "Francois Hollande and Martine Aubry are engaged in a dangerous competition of statements on the euro that are likely to undermine efforts made by all European and France primarily to protect the euro area ".

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"Euro area: stop the panic before August

"SPECIAL – Europe, States facing bankruptcy

Eight European banks have failed the tests of resistance imposed on 91 banks on the continent to test their strength in the event of economic shocks, said Friday in a statement the EBA (EBA) responsible for these tests.

ABB said that the banks needed a total of 2.5 billion euros to strengthen. She did not initially detail the name or nationality of the banks that failed the exam, each institution concerned and the national regulators with priority to communicate about it.

According to announcements made simultaneously in each country by banks and regulators, five Spanish banks and a German bank failed.Two banks failed still missing the call, the regulators have not yet communicated all.

ABB said that the results of only 90 banks had finally been taken into account, without further explanation.

All Italian banks, French, Portuguese, Irish and British passed the test.

While Wall Street ended the session and declined Friday Asian stock markets see red on Monday morning, the CAC 40 continues its decline on Monday. Halfway through, he gave up 1.44% to 3858.11 points. The session will be marked by the expectation of the beginning of earnings season in the United States, with the aluminum giant Alcoa, which must publish its figures after the close of Wall Street. Investors are also nervous until the advances of another meeting of central bankers in the euro area held Monday in Brussels.

Van Rompuy, Barroso and Trichet, heads of three major European institutions – the Council, the Commission and the Central Bank – in fact, find themselves on Monday to spur the seventeen countries of the euro, still unable to agree of mounting a second rescue plan for Greece.Then the seventeen ministers of finance are again struggling in the afternoon of the participation of private creditors (banks, insurers and pension funds) to finance the 110 billion euros expected by Athens. In addition, concerns are doing now in Italy. Friday, the country has seen its returns soar. Rumors about a possible resignation of Finance Minister Giulio Tremonti, would have triggered the movement.

These concerns continue to weigh on the euro, which widened its losses against the greenback on Monday. Around 11:00 in Paris, the single European currency was worth 1.4123 dollars against 1.4258 dollars on Friday night, falling to levels seen for two weeks.

The macroeconomic situation across the Atlantic does not reassure the markets more. The United States are also penalized by a debt record. Barack Obama finds MPs on Monday.He said Sunday night, before a meeting with key members of Congress, he "must" that Congress reached agreement on the debt within 10 days. Otherwise, the U.S. could default on August 2.

Chapter macroeconomics, INSEE released the figure in industrial production in France for the month of May Over the period, and after two months of decline, it bounced 2%, against 0.5% expected by the consensus.

Car values ​​down sharply, despite the results of Renault and for values, the release this morning (tomorrow ahead of Peugeot-3, 74% to 30.09 euros) business results Renault (-2.17% to 38.35 euros) was not at all convinced investors. Carlos Tavares went to the site of Flins Monday.The automaker has announced an increase of 1.9% of its global sales in the first half, the strength of demand abroad offsetting supply problems it encounters in Europe. The group also expressed its willingness to establish a new sales record this year by selling more than 2.6 million vehicles due to its growth internationally and despite the poor performance in Europe in the first half, he said Monday.

The financial sector ailing

The financial sector is in bad shape, still weighed down by the debt crisis in Europe. Mid-session, BNP loses 3.92% to 47.87 euros, Axa, plunges 4.69% to 14.53 euros, Crédit Agricole ceded 3.05 9.18% to 3.88 euros and Societe Generale to 37.03 euros.

Air France (-1.37% to 10.06 euros) will propose October 13 routes from Marseille to France, Europe and the Mediterranean from 50 euros one way, a way, she says, to launch an "offensive" against the low cost.

Moreover, the energy values ​​react more weakly to kick off the giant tender (about 10 billion) government on the construction of an offshore wind farm with a capacity of production of 3000 megawatts.

Several candidates have already expressed: the consortium GDF Su ez (-0.84% ​​to 24.08 euros), Areva (-0.81% to 24.50 euros) and Vinci (-0.92% to 41.98 euros), another consortium Areva and combining the Spanish giant Iberdrola, EDF EN and all (-0.01% to 39.67 euros), Alstom (-1.2% to 40.76 euros ) and Dong Energy.E. ON and EDP-R have also responded to the tender.

Total (-1.09% to 39.53 euros) could write off some tax benefits. Following the controversy triggered by the imposition of any large groups of the CAC 40, Total could give up to enjoy the tax shelter known as "worldwide profits." The CEO also announced that he would pass to the pump the recent increases in crude oil prices.

Mergers in the telecoms

Bouygues Telecom, a subsidiary of Bouygues (-0.85% to 28.63 euros). The smallest of the three French mobile operators own their own network announced Monday the signing of a framework agreement with Spain's Telefonica, which will allow it to benefit from the infrastructure and the size of its new partner.For its part, rival France Telecom (-0.63% to 14.17 euros) was approached by the television channel in Qatar, Al-Jazeera, for the redemption of Orange Sport. Discussions are in progress.

Sanofi (-0.94%, to 55 euros). The laboratory has sold its dermatology at Dermik Valeant Canada for $ 425 million (300 million) to focus on its platform for growth in the United States and Canada.

Airbus, a subsidiary of EADS (-0.15% to 23.16 euros), would be willing to sell out to rival Boeing. The European aircraft manufacturer could make significant price reductions to crop market share with its U.S. rival in the U.S., in connection with the tender launched by American Airlines, says the Wall Street Journal. The U.S. airline expects to order 250 aircraft.

On the other hand airlines could face a strike in early August.The union of airline pilots SNPL filed a strike notice for all French airlines from August 5 to 8, written Tribunedans his edition of Monday.

Ipsos (-0.06% to 32.76 euros) could be thwarted in his plans to return to UK Synovate. In fact, the British investment fund would be willing to put 675 million euros for the acquisition of Synovate, the tamping pin to French Ipsos already in discussions with the company for market research, according to information from the Financial Times. The Aegis Group, which owns Synovate, however, have rejected the offer.

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"Fuel prices will rise again

The agreement is good news the French biotech Innate Pharma. The company, based in Marseille, in a statement anounce the signing of a global agreement with the U.S. laboratory Bristol-Myers Squibb (BMS).

BMS is thus committed to finance the development of the IPH2102, a new antibody in Phase I development created by the biotech Marseille for the treatment of cancer. Thus, the U.S. laboratory to make an initial payment of Innate Pharma $ 35 million, followed by other milestone payments based on research findings. The total amount of the transaction could reach $ 465 million (over 320 million euros).Innate Pharma should also receive a fee, a "double-digit percentage" of international sales net of the product.

In exchange, "Innate Pharma will provide Bristol-Myers Squibb exclusive worldwide rights to develop, manufacture and marketing of IPH2102 and compounds structurally related KIR receptor blocking."

Innate Pharma flies title

"This license agreement is the largest ever made to date with a French biotech in financial terms," ​​said Hervé Brailly, CEO of Innate Pharma. "Bristol-Myers Squibb is a global leader in the field of immuno-oncology and as the best partner we could look to realize the full potential of IPH2102," he adds.

To BMS is a new step in its strategy of "string of pearls."The giant seeks to "establish collaborations with innovative businesses and leaders in their field worldwide," said Mike Seeley, CEO of BMS France.

The announcement of the agreement was followed closely by investors. The title Innate Pharma jumped nearly 80% in early trade, to 2.35 euros. The CAC 40 rose 0.46%.