US MARKETS:

S&P 500 futures down 0.5% to 2,936.75

Brent Futures up 0.6% to $58.71/bbl

Gold spot down 0.2% to $1,502.14

US Dollar Index up 0.2% to 98.96

 

GLOBAL NEWS:

Innate on the Nasdaq. Innate Pharma launches its IPO on Wall Street. The transaction involves approximately 10.66 million new shares, placed in the United States (in the form of ADSs) and via a private placement in Europe. The price of the shares will be known after the creation of the order book. The estimated dilution is around 14.3%. The operation carried out on the Nasdaq should make it possible to finance Innate until the end of 2021.

HSBC reduces staff. The bank will cut up to 10,000 jobs to reduce its costs, the Financial Times reported. The majority of the jobs concerned could be located in Europe. " One wonders why we have so many people in Europe when we have double-digit returns in some parts of Asia," a source told the FT. HSBC Holdings had announced this summer the departure of its boss and 4000 job cuts.

End of honeymoon for the Libra. PayPal withdraws from Facebook's Libra project, arguing that the ground has been poorly prepared with regulators. In recent days, rumors of defection had increased. Facebook's initial coup, convincing heavyweights such as Visa, Mastercard or PayPal to join its project, is coming to a halt as regulators and central banks raise their shields.

AMS has to wait for Osram. AMS is able to reach 51.6% of Osram's capital under its takeover bid, below the projected minimum of 62.5%: the company will be satisfied with its 19.99% shares until it has obtained sufficient regulatory approvals to ensure that the transaction can be completed. In other words, AMS still wants to buy German. He had offered EUR 41 per share to block the Advent and Bain funds.

Cold snap. General Electric has decided to freeze the pension plan for 20,000 of its employees in order to reduce its pension fund deficit and improve the conglomerate's balance sheet. The UAW union estimates that negotiations with General Motors in the United States are going badly, while several tens of thousands of employees have been on strike since mid-September

In other news. Merck KGaA completes the acquisition of Versum for €5.8 billion. The European Commission has opened an in-depth investigation into the proposed acquisition of the Brazilian company Embraer's aeronautics division by the US company Boeing. Bayer's trial scheduled for October in the glyphosate case in the United States postponed to February. Google has views on Firework, a video application that competes with TikTok. The composition stay of Airopack, renamed APTG, extended by four months by the Swiss courts. The Malaysian judiciary is prosecuting 80 natural and legal persons for receiving funds in the 1MDB case.