(BFW) Statoil Says Zafarani Reservoir in Tanzania Successfully Tested

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BN 03/03 07:52 *STATOIL COMMENTS ON ZAFARANI RESERVOIR IN E-MAILED STATEMENT BN 03/03 07:51 *STATOIL SAYS ZAFARANI-2 OPS FLOW CONSTRAINED BY EQUIPMENT BN 03/03 07:51 *STATOIL SAYS ZAFARANI-2 OPS FLOWED AT MAX. 66M SCF GAS/DAY BN 03/03 07:50 *STATOIL SAYS ZAFARANI-2 OPS TESTED 2 SEPARATE INTERVALS FLOWED BN 03/03 07:49 *STATOIL SAYS ZAFARANI RESERVOIR IN TANZANIA SUCCESSFULLY TESTED

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Statoil Says Zafarani Reservoir in Tanzania Successfully Tested 2014-03-03 08:00:08.552 GMT

By Mikael Holter March 3 (Bloomberg) -- Says Zafarani-2 operation tested 2 separate intervals, flowed at maximum of 66mln scf gas/day. * Says production-well rate potentials estimated to be higher than equipment-constrained rates obtained during test * Says test confirmed good reservoir quality, connectivity * See statement {NSN N1UOU16KLVRI <GO>}

Link to Company News:{STL NO <Equity> CN <GO>} Link to Company News:{XOM US <Equity> CN <GO>}

For Related News and Information: First Word scrolling panel: {FIRST<GO>} First Word newswire: {NH BFW<GO>}

To contact the reporter on this story: Mikael Holter in Oslo at +47-22-00-8209 or mholter2@bloomberg.net

To contact the editor responsible for this story: Stephen Treloar at +47-22-00-8211 or streloar1@bloomberg.net

>>> Apple announces leading auto OEMs are rolling out CarPlay, for use iPhone in

Apple announces leading auto OEMs are rolling out CarPlay, for use iPhone in the car

Co announces that leading auto manufacturers are rolling out CarPlay, the smarter, safer and more fun way to use iPhone in the car.
CarPlay gives iPhone users an incredibly intuitive way to make calls, use Maps, listen to music and access messages with just a word or a touch.
Users can easily control CarPlay from the car's native interface or just push-and-hold the voice control button on the steering wheel to activate Siri without distraction.
Vehicles from Ferrari, Mercedes-Benz and Volvo will premiere CarPlay to their drivers this week, while additional auto manufacturers bringing CarPlay to their drivers down the road include BMW Group, Ford, General Motors, Honda, Hyundai Motor Company, Jaguar Land Rover, Kia Motors, Mitsubishi Motors, Nissan Motor Company, PSA Peugeot Citroën, Subaru, Suzuki and Toyota Motor Corp.

>>> Elisa could be a takeover target - report

Elisa could be a takeover target - report (translated) 

Elisa, the Finnish telco operator, could be a takeover target, according to Kauppalehti Online. The Finnish paper cited an analyst named Laurie Fitzjohn-Sykes from Citibank who had commented on Elisa’s share’s strong rise because the share price has been at its highest in years. The bank had estimated that a buyer may appear for the company and that the company could become an M&A target, in which case the company’s share is set to rise further.


Source Kauppalehti Online

>>> Autoliv interested in buys but potential targets seen as too expensive

Autoliv interested in buys but potential targets seen as too expensive
Autoliv, the Swedish auto safety systems giant, is interested in buys, but facing difficulties finding targets at a suitable price, according to Dagens Industri.

The Swedish business daily cited Autoliv’s Managing Director Jan Carlson, who was asked why it is taking time for the company to acquire within active safety as planned. Carlson replied that there are active safety candidates which are of interest but the problem is that the price range is too high as the vendors expect the industry to grow further.

The item noted that Autoliv is worth around SEK 42bn (EUR 4.7bn).
Source Dagens Industri

Les Echos : The government is involved in the SFR file

Link to fench Article : {http://bit.ly/1bZSn5D}
Link to tanslation(google) : { http://bit.ly/1mZMo2r}

The government is involved in the SFR file
Poorly known, the owner of Numericable faced a barrage of criticism.
These benefit another potential buyer SFR, Bouygues.
"It's been twenty years since we deale with Martin Bouygues, because it has the construction, a TV channel, etc.., But Patrick Drahi, it has never seen. "Within the executive, the revelation of the proposed acquisition by SFR Numericable, there is a week, created a sort of floating. But who is this Franco-Israeli entrepreneur who wants to pay the second French telecom operator, a subsidiary of Vivendi? This Polytechnique, who patiently consolidated cable in France, but has also built an international group (Israel, Belgium, Portugal, etc..) Has never been the seat of government departments. And yet, the parent company of Numericable, Altice, listed in Amsterdam since January, is 14 billion euros ...
Patrick Drahi met only recently Fleur Pellerin and Arnaud Montebourg and the deputy secretary general of the Elysee. He is about to tour again to reassure the government. Telecom is a regulated sector, better get the consent of the Executive before committing. And it is also not quite a coincidence that all operators in the country are 100% French.
Battle of the influence began. Martin Bouygues - which, according to the "JDD", was received last week by François Hollande - is determined to bar the way to the newcomer. He is preparing a rival bid that Numericable (the memorandum of understanding between the latter and Vivendi is still not signed) and by playing its networks to destabilize Patrick Drahi. His arguments? "He mounted a cascade of holdings , it is not French tax resident and where he went, there was a lot of social damage, "says Will we in ministry. The acquisition of France Telecom Cable in 2005 and Noos in 2006, has left hundreds of employees on the floor. There is no question of "make a trial of intent" to the contractor, but the government wants to know "if Patrick Drahi keeps its commitments."
Risks for employment
Moreover, some in the executive, worried as much a hypothetical Bouygues, SFR (between 8,000 and 9,000 jobs respectively), which would increase the number of mobile operators from April to March. Married two operators with comparable profiles is already not an obvious operation in terms of competition. In addition, this is the risk of deleting a lot of jobs, as explained Alain Bernard, national secretary of the federation FO union and Bouygues Telecom: "With SFR, we have two control centers, two computer systems, same jobs, the same directions and almost the same numbers. Whereas with Numericable, we can have duplicates, but they are not quite the same jobs. "
Then the government should seek assurances to potential buyers. It might require that there be no redundancies, but only voluntary departures and a reclassification plan. It will also require that the new entity to invest in fiber as the Cape of 100% high flow in 2022 was appointed by the president. "Numericable, which has a considerable stock of cable, will perhaps seek to the flow through SFR, rather than deploying new networks, "suspect a ministerial adviser. Charges which have outraged concerned. "We have the best fiber network in Europe. Numericable only planned 9 million made ​​fiber 2017 with SFR, we would spend 12 million, "a source close to promises Altice.
So far, the government's focus is to see more clearly. "Nobody can rely on our support, we are assured in a department. But we do not see the urgency to sign an agreement that fifteen days could have important consequences in terms of regulation. "This comment echoes the claims of Orange, who believes that a large integrated with a mobile network cable operator should be forced to rent its infrastructure at regulated rates. The war will not thank you.

Les echos : How Drahi intends to finance the acquisition of SFR

Link to french article : { http://bit.ly/NLJgul}
Link to translation (google) :{http://bit.ly/NlVBFN}

The debt of the new entity will amount to € 10.4 billion, for a cumulative gross operating income of € 3.3 billion surplus.

How small cable operator Numericable (worth € 6 billion including debt) account he buy SFR, usually valued at around 15 billion euros?
The outline of the project investor Patrick Drahi have already filtered, and were confirmed to "Echoes" by a source close to Altice, its holding company , parent company of Numericable: If everything goes according to the plans of the contractor Vivendi will be paid in cash to the tune of € 11 billion, of which 8 billion euros of debt. "A pool of 8 French and international banks has already undertaken to ensure these amounts," promises this source. Are added 32% stake in the new set - worth 3 billion euros in the event that there would be no synergy between the two groups. Numericable entered the stock market in November should conduct a capital increase of € 3 billion, which will be underwritten by three quarters the concert Drahi-Carlyle-Cinven, with preferential rights. There will be more than € 750 million up to the public, which should not be a tour de force. For its part, the parent company Altice, worth 14 billion euros at the Amsterdam Stock Exchange, will finance itself on the markets.
Debt concern
Within the government, we're worried about the amount of debt. If it is too high in relation to the repayment capacity, investment will suffer and jobs. Redemptions leverage , Patrick Drahi has increased in past companies, do not have good press. In the proposed scheme, the total debt of the new entity will amount to € 10.4 billion - billion with Numericable 2.4, but without the debt of SFR, which will remain at Vivendi.
However, the side of the potential buyer, it is reassuring and said that the gross operating surplus accumulated two companies amounted to € 3.3 billion: "The ratio of debt to EBITDA is slightly above 3, and even less if we take into account the potential synergies, which can reach 1 billion euros of cash flow in four to five years, "said the source close to Altice.
"This is an aggressive assembly, for its part considers an analyst, but the repayment ability is very good. "For him, the debt level is justified by the fact that the new entity will be considered a player in the cable and not a mobile operator:" In the cable in Europe, you can have multiple debts on Ebitda up to four times because we consider that cable operators are increasing their investments and help bring new customers, "he explains.
Conversely, a group of telecommunications, such as Orange, "only invests to maintain its sales," he adds. The debt tolerance is much lower, at most 2.5 times the EBITDA.

Les Echos - The German economy is likely to become the lowest in the euro area"

Link to french article : {http://bit.ly/1kLCHTH}
Link to translation (Google) : { http://bit.ly/1hzZou3}

The German economy is likely to become the lowest in the euro area"

Albert Edwards, who works at Société Générale in London, is known for his pessimistic predictions. Currently, he fears a wave of devaluations in emerging countries and China. The risk? Emphasize deflation in Europe and a return to recession.

You predicted that the end of the bubble in emerging countries would lead to a more serious than "subprime" crisis. What worries you?
Emerging countries themselves worry me unless the impact of the slowdown in their economies over the United States and Europe. They are more durable and resistant to the eve of the crisis that has hit in the late 1990s, but precisely because they are bigger, their slowing down will do more damage in the West. A combination of factors creates a critical situation. First, the Fed tightens monetary and every time it happened, a major crisis ensued policy. This time, the problem is that the liquidity created in the West over the last five years have largely dumped in developing countries and that this stream dries up. This money is draining more pronounced these countries created currency to buy dollars to prevent their currencies from appreciating to continue exporting. As foreign exchange reserves decline with the economic downturn, they can not afford it, which is to apply additional round of monetary tightening.
Any other factor you care?
All these western cash generated significant inflation in emerging areas and made ​​the exchange rate real (adjusted for price inflation) of these economies less competitive. As proof, the relocation trend reverses. Today, emerging countries will be forced to counter deflationary forces that affect devaluing their currencies and exporting their deflation.
Are you worried that we are witnessing a wave of devaluations?
Absolutely, and I think even China will unfortunately have to use the lever. Another phenomenon indeed conspire to increase the risk. Japan is bankrupt and has now decided to devalue the yen to export its deflation. If the Fed tightens monetary policy and the yen depreciates, Korea will have to devalue its currency and Thailand, etc.. And if Asia devalues, other emerging regions will have to follow, especially Brazil. China, the real exchange rate is so competitive, can not sit idly. The yuan is also trying to depreciate.
Who will be most affected, Europe or the United States?
Europe is at risk of a deep recession. Germany is likely to be particularly affected and become the lowest in the euro area economy. Its industries are indeed in direct competition with many Japanese or Korean manufacturers to export goods, cars ... The devaluation of the yen and other currencies against the euro would be very bad news for this country, considered the most virtuous of Europe.
How Germany can react?
I think the impending crisis will force it to soften its dogma in favor of restrictive monetary policies and a strong currency. This could be good news collateral, even if the crisis from emerging countries can also awaken fears of a collapse of the euro area.
Is deflation threatens the West?
In Japan, both inflation and inflation expectations have collapsed. But in Europe and the United States, a certain degree of trust or blindness persists: inflation has fallen, but the central banks have managed to ensure that inflation expectations do not move. The risk is that the market starts to panic seeing that inflation does not rise, as in 1997 with the Asian crisis in 2008 and the Great Recession ...
Discourage you invest in emerging Scholarships?
Everything has a price. The actions of some emerging countries are comparatively cheap, and I do not will invest at this time on the actions of developed countries. However, the risk for a foreign investor is to end up with assets in one currency may be devalued by 20% ...

>>> What to look at today & this Week end - 03/03/2014

US Market closed mixed on concerns about Ukraine, which were justified when we see the events of this week end, S&P closed 0,3% higher and Nasdaq & Russel lower...weaker Q4 GDP (2,4% vs 3,2%) pushed people to think that the FED won't hurry the space of its tapering...Despite the selloff on Ukrainian development, the S&P 500 was able to return into positive territory thanks to relative strength of heavily-weighted sectors like consumer discretionary (+0.5%), consumer staples (+0.7%), and financials (+0.5%)...VIX had a big move from 13,49% to 14,79%, to close at 14%...volume were above with 944 mil shares traded.
China PMI...Ukraine...Asia lower... Nikkei -1.24% HS-1% Shanghai +0.58%
YTD Perf : Dow -1,54% S&P +0,60% NAsdaq +3,15% EuroStoxx +1,29% Nikkei -8,90% HS -2,01% Shanghai -2,82%

Macro :
- Russian Lawmakers Grant Putin’s Request to Use Troops in Ukraine’s Crimea
- Japan FY13 current account balance may post a deficit (wud be the 1st in 33y)- Kyodo News
- NATO Calls on Russia to Withdraw Troops From Ukraine: Rasmussen
- Germany Could Become Europe’s Weakest Economy, Les Echos Says
- *RUSSIA’S MICEX FALLS 6%, HEADS FOR BIGGEST DROP SINCE 2011

EUR$ 1.3790 S&P FUT -0.81% ( traded down to -1.10%) European fut : -1.4%

Keep an eye on :
- ACX SM : Acerinox to Maintain Scrip Dividend in Coming Years, CEO Says
- ALV GY : Company still looks like a good value despite management upheaval at its Pimco unit, of which analysts say day-to-day operations are unlikely to be affected by departure of chief Mohamed El-Erian. (Barron's)
- BAYN GY : Bayer setting aside USD 10bn for deals over the next two years
- BP IM : Banco Popolare Investors Approve EU1.5b Capital Increase
- EN FP : Bouygues Discusses SFR Plans With Hollande, Plans Bid, JDD Says
- COL SM : Colonial Says Considering Keeping Stake in France’s SFL
- COL SM : Colonial 2013 Net Loss EU 546.9m Vs Loss EU1.13b in 2012
- EDF FP : EDF Estimates EU300B Cost to Replace French Nuclear Plants: JDD
- EGL PL : Mota-Engil Says FM-Sociedade de Controlo Holds 56.41% Stake
- ERF FP : Eurofins Lifts Dividend as 2013 Earnings Exceed Forecast
- ESSR LN : Ruia family working on improved offer for Essar Energy; offer deadline is 14 March
- EZJ LN : EasyJet CEO Sees 2m Passengers in 1st Yr at Naples: Repubblica
- FNAC FP : FNAC is launching its online streaming platform this week
- KNIN VX : Kuehne & Nagel 2013 Rev., Profit Rise; Plans Special Dividend
- MF FP : Wendel Invests $152 Million in IHS Capital Increase
- NOVN VX : Novartis Chairman Wants to Keep Drugmaker Independent: SZ
- NUM FP : Numericable Plans to Pay EU11B Cash for SFR, Les Echos Says
- OML LN : Old Mutual announces proposed initial public offering of US asset management business
- ROG VX : Roche’s Genentech Says Committee Advises to End METLung Phase 3
- RR/ LN : Rolls-Royce Investigated in India Over Bribery Claims: Telegraph
- SCVB SS : Borg to Discuss VW/Scania Offer With Germany’s Schaeuble: DI
- SOLB BB : Solvay Said to Hire Credit Suisse for Unit Sale: Reuters
- SRG IM : Snam May Raise Capital to Buy CDP’s TAG Pipeline: Reuters Link
- STAN LN : Standard Chartered plc Investors concerned over company's Asia growth prospects - UK Telegraph
- TI IM : Telecom Italia Governance Plan Seen as ‘First Step’ by Findim
- TKA GY : ThyssenKrupp Has Bidders for Units Up for Sale, ThyssenKrupp Ebit Target Depends on Cost Cuts: Boersen-Zeitung
- VIV FP : Bouygues Discusses SFR Plans With Hollande, Plans Bid, JDD Says
- VIV FP : Numericable Plans to Pay EU11B Cash for SFR, Les Echos Says
- WPL AU : Woodside CEO Says Tax Issues Threaten Leviathan Deal

>>> Brokers Upgrades & Downgrades

>>> Up
*HENDERSON GROUP RAISED TO OUTPERFORM AT RBC CAPITAL
*KAZAKHMYS RAISED TO BUY VS NEUTRAL AT CITI
*LUFTHANSA RAISED TO OVERWEIGHT VS EQUALWEIGHT AT BARCLAYS
*MAN GROUP RAISED TO SECTOR PERFORM AT RBC CAPITAL
*PRUDENTIAL RAISED TO BUY VS NEUTRAL AT UBS
*YARA RAISED TO OVERWEIGHT VS NEUTRAL AT JPMORGAN

>>> Down
*AGGREKO CUT TO HOLD AT DEUTSCHE BANK
*ANGLO AMERICAN CUT TO SELL VS HOLD AT LIBERUM
*ASTRAZENECA CUT TO UNDERPERFORM VS NEUTRAL AT BOFAML
*AVANGARD CUT TO UNDERPERFORM VS BUY AT BOFAML
*ELEKTA CUT TO SELL VS NEUTRAL AT UBS
*GALP ENERGIA CUT TO HOLD VS BUY AT SOCGEN
*GAZPROM CUT TO NEUTRAL VS BUY AT BOFAML
*GKN CUT TO NEUTRAL VS BUY AT UBS
*HANDELSBANKEN CUT TO HOLD VS BUY AT SEB
*INTELSAT SA CUT TO NEUTRAL AT JPMORGAN
*MHP CUT TO UNDERPERFORM VS BUY AT BOFAML
*RIO TINTO CUT TO NEUTRAL VS BUY AT CITI; PT A$74
*SODASTREAM CUT TO EQUALWEIGHT VS OVERWEIGHT AT BARCLAYS
*SAINT-GOBAIN CUT TO UNDERPERFORM VS NEUTRAL AT BOFAML
*SIGNET CUT TO NEUTRAL VS BUY AT UBS
*UBM CUT TO HOLD VS BUY AT BERENBERG

>>> PT change
*AGEAS PT RAISED TO EU39 FROM EU36 AT ING

>>> Initiation
*SURGUTNEFTEGAS RATED NEW OVERWEIGHT AT BARCLAYS, PT $0.90

>>> Call
>> Stock
* Direct Line Added to UBS’s Most Preferred; RSA Insurance Removed
*RSA CUT FROM UBS’S MOST PREFERRED LIST
*INTERSHOP ADDED TO UBS’S LEAST PREFERRED LIST
*UNIBAIL-RODAMCO, ICADE CUT FROM UBS’S MOST PREFERRED LIST

>>> Bayer setting aside USD 10bn for deals over the next two yea

Bayer setting aside USD 10bn for deals over the next two years
Bayer, the German-based drug maker, is planning to set aside USD 10bn for potential deals, according to a Fierce Biotech report, citing company CEO Marjin Dekkers.

Dekkers was quoted on a call with analysts saying that between 2014 and 2016 he plans to spend USD 15.5bn on research and development and during the same time period, USD 10 bn on small and mid-sized acquisitions in life sciences.
Source FiercePharma