BP said Friday that the cost of oil spill in the Gulf of Mexico reached eight billion dollars and he would need another two weeks to completely seal the well to the source of this pollution.
BP also reported that there had been no major upward revision in the amount of compensation paid to victims of the spill.
The compensation fund for victims of 20 billion dollars, called Gulf Coast Claims Facility (GCCF) and active since August 23, pays about 3.5 million per day.This figure is broadly in line with what BP paid himself before the fund takes over.
Under pressure from the White House, the British oil giant pledged in June to fund an escrow account of $ 20 billion over four years.
The values to follow on Wednesday at the Paris Bourse, where the CAC 40 has risen sharply and takes 1.75% to 3,551.87 points at 12:42, after the recent half-yearly publication of the index generally encouraging.
* VIVENDI signs the largest increase in ACC and climbed 4.56% after announcing an anticipated increase in its annual results for 2010 and maintaining its dividend at least 1.40 euro until 2012, after a first half marked by higher performance expectations, including SFR.
Lafarge wins * 4.41%. CA Cheuvreux has raised its rating to outperform against under-performance for valuation issues.In addition, Moody's confirmed Tuesday evening Baa3 debt rating of the group he had placed under review in early August for a possible lowering.
* Also in Construction, VINCI was up 2.89% after confirming its forecast for an improvement in its net profit this year and said he had good visibility for 2011 and beyond given the backlog. SAINT-GOBAIN earns 2.65%.
* In contrast, Bouygues is the only value of ACC in the red, losing 0.67%.The group has slightly raised its sales target for 2010 but has expressed an intensification of the relief of its subsidiary Colas (-4.75%), including the weakness in the first half was partially offset by Bouygues Telecom and TF1 ( 1.2%).
* CARREFOUR advance 2.9% to 36.87 euros after the publication of his semi. Deutsche Bank raised its target price of 36-41 euros and reiterated its advice to buy the title.
Moreover, the Japanese distribution Aeon will bid on the assets of French in Thailand, Malaysia and Singapore, it was learned from sources close to the matter.
* ARCELORMITTAL garnered 2.08% with its sector in Europe (+1.6%), driven by a slight rebound in manufacturing activity in China.
* Sanofi-Aventis jumped 2.23%.In an interview with Reuters, CEO of Genzyme considers the probability of finding an agreement on an offer from Sanofi on American group, however, reiterating that no question of accepting the proposed price of $ 69 per share
* Out ACC, CAM, highest increase of the SBF 120, jumped 5.1%. The group has returned to growth in the second quarter after four consecutive quarters of decline and forecast a continued recovery in its automotive business.
6.63% * Havas abandoned after publishing an organic growth in the first half making him "the last of the class" in its sector, in the words of its chairman and largest shareholder, Vincent Bolloré.
* BOURBON loose 3.5%.Specialist Marine Services has published the results down in the first half because of the growth of its operating costs, but the group says still confident in its ability to achieve the objectives of its plan 2011-2015.
* Wendel advance of 3.89%. The investment company has seen its half year results increase sharply thanks to a rebound in performance of its investments as listed and unlisted said there was "no urgency" to make asset sales.
* Transgene is 5.05% after a positive opinion from the European Medicines Agency for the final phase of clinical trials of its treatment of a form of cancer, TG4010.The biotechnology company publishes its interim results this evening after the market closes.
* April Group climbed 4.21% after first half results found encouraging. CM-CIC and Socgen went to purchase the title.
Lagardère was shown on Thursday determined to see Canal + France go public by March 2011 because of disagreement on the sale of its 20% stake in Vivendi, the controlling shareholder group of pay TV.
Shaken last spring with a campaign of shareholder activist Guy Wyser-Pratte, the media group accelerates the sale of its minority, who constitute a conglomerate discount to its stock price.
Arnaud Lagardère, general partner of the group inherited from his father, was more cautious for the next big sale expected by analysts, that of its 7.5% remaining in the group of aerospace and defense group EADS.
During the presentation of interim results of his group, Arnaud Lagardere seemed more eager than ever to clean up these minority, among which 25% of Amaury, the owner of Parisien and L'Equipe, and 42% of media group Marie Claire.
He particularly stressed his determination to introduce Canal + France in stock while analysts saw it as far a new negotiating tactics of Lagardère, began several months in a poker game with Vivendi, which owns the remaining 80%.
"We go through the process (…), we will not turn on the road," he said during a conference call during the half year results.
GO QUICKLY TO CANAL +
Arnaud Lagardere wants to move quickly to avoid being caught by the tender provided during 2011 for the rights of Ligue 1 for the period 2012-2016, during which an initial public offering by Canal +, the main stakeholder, would the least sensitive.
The chief financial officer Dominic D'Hinnin, responsible for leading the operation, said that if it was not buckled before the end of the year, should wait until March because investors would know the results of Canal + in 2010 before committing.
Lagardère values in its accounts its 20% interest in Canal + France to 1.5 billion euros, or the proportional value of sales options exercised this year by TF1 and M6, which together held 15% of Canal + France.
Analysts doubt that Lagardère, which has no option, can achieve such a valuation at an IPO.
Under a shareholders agreement forged in 2007 when the merger between CanalSat and TPS, without an agreement between two parties on the price of participation, Lagardere could sell its shares on the market.
The Figaro had been reported that Vivendi had refused an offer of 1.35 billion euros Lagardère. Neither group had reviewed the information.
Vivendi has not made any proposal when we gave them (our) money.Their response was: we prefer to keep our money and invest in telecoms, "said Dominic D'Hinnin.
MORE TIME TO LEAVE OF EADS
Regarding EADS, the equation is more complicated. The action has returned 27% since the beginning of the year to close at 17.95 euros on Thursday, but still low and many analysts are convinced that Lagardere will not sell to under 20 euros.
Arnaud Lagardere also said he wanted to first ensure that the program of the future Airbus A350 was well underway before leaving the group's capital.
"There may be delays, or maybe not, we know nothing," he explained."But to be in position to sell those shares in EADS, we want to be 100% comfortable with the development of this aircraft, which means a little more time."
He added that he had the green light from the French government to withdraw and that the issue of the French-German balance in the capital of EADS was not within its jurisdiction.
"I do not expect sales at the end of this year, but if we have an opportunity, it is clear that we will seize this opportunity," he added.
Arnaud Lagardere also said that his discussions with Marie-Odile Amaury, which owns the namesake newspaper group, for a withdrawal had not been completed, while hoping to achieve in 2011, see this year.
He argued that a sale of the Parisien and Aujourd'hui en France, refocusing the group on the organization of sporting events and L'Equipe, increase conflicts of interest with Lagardere, also present in this area Marie-Odile Amaury placed in an "awkward position".
"It is important that we sell," he said. "We're trapped in a company we have no control and which we do not draw virtually no dividend".
Tokyo stocks ended virtually unchanged on Tuesday (-0.07%), caught between downward pressure related to the strength of the yen and satisfaction related to solid quarterly results and found the stronger than expected for Sales of new homes in the United States.
The Nikkei index closed at 9496.85 points while the broader TOPIX, took 0.03% to 846.12 points.
Home sales in the nine to the United States jumped from 23.6% in June is, in percentage, the stronger rebound since May 1980, reassuring investors about the risk of a relapse of the U.S. economy.
In terms of value, the manufacturer of household products Kao Corp. gained 1.1% to 2.111 yen after the announcement of an increase of 34.6% of its operating profit for the period April to June, to 26.17 billion yen (231 million euros).
In contrast, the continued strength of the yen continues to handicap the exporting groups.
The semiconductor equipment supplier Tokyo Electron, the semiconductor maker Advantest, and the carmaker Honda and decreased from 0.42 to 1.62%.
The pharmaceutical group Sanofi-Aventis, seeking a major acquisition, has approached the U.S. biotech Genzyme, we learn the source familiar with the matter.
Discussions are still in their infancy and there is no agreement expected in the immediate future, it says.Issues such as price and management have not yet been addressed, it adds.
The Wall Street Journal, which has revealed the information, officials of Genzyme, which specializes in products for the treatment of orphan diseases, are studying the amount that Sanofi would pay.
In Stock, Genzyme is 14 billion dollars (10.8 billion euros) but the group can require a significant premium given its portfolio of drugs, analysts said.
"If we take as a starting point the figure of 20 billion dollars that has been discussed before, this puts Genzyme to $ 75 (per share)," said Michael Yee, an analyst at RBC Capital Markets.
In exchange, the share of Genzyme blazed nearly 18% to 63.84 dollars at end of session.
Sanofi declined to comment.
Faced with competition from generic drugs, many pharmaceutical companies are looking for external growth.
In early July, the rumor gave Sanofi-Aventis, faces the expiration of patents on several important drugs, looking for acquisitions in the United States.
The sales of Sanofi made in the USA by its anticancer Eloxin fell sharply after the launch of generic versions, while its other cancer drugs, Taxotere, will drop its patent to the public in November in Europe and United States.
In late June, Sanofi announced the acquisition of American TargeGen for 560 million dollars (458.5 million euros) in order to strengthen the fight against cancer.
Late June-early July, the French laboratory has met its board of directors on the topic of acquisitions, had been taught to the time source familiar with the matter.
Friday, Biogen and Allergan, whose names had been mentioned as potential target for Sanofi alongside Genzyme, lost 5% and 2.5% in stock.
The turboprop manufacturer ATR announced that it recorded 42 orders and delivered 26 aircraft in the first half.
The joint venture of the European group EADS and Italy's Finmeccanica said in a statement that, taking into account the options, the number of orders placed since January 1 amounted to 72 aircraft.
"We will deliver between 50 and 54 aircraft this year," he told a news conference at the Farnborough Airshow near London, Filippo Bagnato, Chief Executive Officer of ATR.
During the presentation of its annual sales results on January 18, ATR stated aim of delivering more than 50 aircraft this year after delivering 54 aircraft to their owners in 2009.
The group, which achieved a turnover of 1.4 billion dollars last year, added provide a stable revenue in 2010.
Greece became the second most risky in terms of sovereign debt due to a deterioration of its debt in the second quarter, a survey of CMA Datavision.
Athens was still in the ninth position of the most risky in terms of sovereign debt in the first quarter, said CMA.
The cost of protecting against a default in the country five years on its debt (credit default swap) has jumped to 1,003.4 basis points (bps) in the second quarter.There is a probability of 55.6% of default of Greece in the five years.
Greece is also the countries with the worst performance in the second quarter with an increase of 190% of its CDS, followed by Belgium with the CDC have increased 168.5%.
Spain completes the podium with a jump of 129.2% of its CDS, while Portugal and France are respectively the fourth and fifth worst student with an increase in the cost of protection on debt of 129.2% and 112.3%.
In absolute terms, Venezuela, with CDS has reached 1305.7 bps remains the country's riskiest ranking made by the company study the risk of default on debts, Caracas, with a probability of default to five years' s raising to 58.7%.
Iceland and Egypt are instead left the group of the ten riskiest in the world, unlike Romania and Bulgaria which joined the top 10 at the eighth and tenth positions respectively, their banks being heavily exposed to Greece.
Among the safest countries in the world are still Norway and Finland, which continue to occupy the first and second place in the field, while the U.S. is hoisted from the tenth to third in favor of improving the credit situation in the country.
Germany, which is a reference in the euro area sovereign debt, and the Netherlands have however slipped in the rankings of the safest countries.
Germany has dropped to third from sixth place the first three months of the year and the period April-June The Netherlands has them in eighth place after being in sixth place three months earlier.
For a chart on the classification of CMA Datavision, click on:
here
Having already recorded last week its biggest weekly decline in a month, the Tokyo Stock Exchange ended down 0.45% Friday, suggesting investors the opportunity for the Japanese stock market to its lowest close in six months to less than 9,400 points.
After passing downward in meeting new technical threshold to 9780 points, the Nikkei index has increased its loss to 43.54 points to finally dispose 9693.94 points, while the broader TOPIX, 6.50 lost points (-0.75%) to 860.80 points.
The agreement between the leaders of the 20 most industrialized countries in the world (G20) had a limited effect on Japanese markets, in contrast to concerns about the U.S. recovery and the high yen, which were again weighed on exporting groups.
The semiconductor equipment maker Tokyo Electron, and the specialist in digital cameras and Canon have respectively decreased by 2.49% and 1.13%.
Mizuho Financial Group ended at its lowest in seven months to 149 yen (-2.61%), reflecting the intentions of the bank to raise 861 billion yen (7.8 billion euros), a slightly higher expectations, by issuing securities should increase by 38% the volume of shares outstanding.(See)
The announcement of this operation resulted in the decline of other securities sector, Mitsubishi UFJ Financial Group and Sumitomo Mitsui Financial Group, respectively, finished with a decline of 1.91% and 1.88%.
Greece will overcome its fiscal crisis without having to restructure its debt, said Greek Finance Minister George Papaconstantinou in an interview published Wednesday by the German newspaper Handelsblatt.
'We still have a credibility problem, he acknowledged, adding that the country would not need to restructure its debt.
'We must not let the single currency to be destroyed by the markets overreacted.
A delegation of the European Union, the International Monetary Fund (IMF) and European Central Bank (ECB) said last week that Greece put in place economic reforms, according to plan massive aid over three years 110 billion euros to save the country from bankruptcy.
"I see the end of the tunnel," said the minister.
"We hope to finish the year better than we expected, out of the recession more quickly and return to growth from the mid-2011," he said, while acknowledging that "Spain and the Portugal [were] in a much better position than Greece.
In return for IMF assistance plan / EU, Greece has promised to cut its budget deficit to 8.1% of GDP this year to comply with the requirements of Brussels and under the 3% of GDP by 2014 .
