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Markets are called to open higher this morning.
Sanofi agreed to pay $700 million for access to drugs developed by Alnylam Pharmaceuticals Inc. and a 12 percent stake in the biotechnology company, expanding its investments in treatments for rare genetic diseases. Sanofi’s Genzyme unit will gain expanded access to Cambridge, Massachusetts-based Alnylam’s patisiran, a treatment for a rare life-threatening disease that damages the nervous system, as well as the rights to develop and market three other drugs, Paris-based Sanofi said in a statement today. Sanofi also gets an option on all of Alnylam’s drugs for rare genetic diseases, the company said.
Federal Reserve board members Charles Plosser and Richard Fisher will speak tomorrow after a smaller-than-estimated 74,000 gain in December payrolls eased concern the U.S. will accelerate stimulus cuts.
WHAT TO WATCH:
• Basel Committee Makes Concessions to Banks on Debt-Limit Rules
• Portugal Sees Possible Bond Auctions Before It Exits Bailout
• Oi’s Portugal Merger Hits Snag as Investors Get Bargaining Chip
• London Finance Job Vacancies Fell 21% in 2013: Recruiter
• Third of U.K. Workers Will Look for New Job in 2014: Reed
• Iceland Loses Patience as Bank Creditor Settlements Drag On
• Resonance Boosts Funds to $100 Million, Buys U.K. Wind Farms
• Alcatel Said to Hold Talks With Unify on Enterprise Unit Sale
• Toshiba in Talks to Raise Stake in NuGen to 60%: Nikkei
• Dart Energy Entered Into a Farm-Out Agreement With Total E&P
• BlackRock’s Bolton Faces Italy Proceeding Over Saipem Trade
• Prada Said to Be Under Investigation for Tax Evasion
• Symrise Raises Probi Stake to 30.03%, Triggers Mandatory Bid
EARNINGS All times CET, estimates where available:
• Suedzucker (SZU GR) 7am, 3Q earnings
• Jeronimo Martins (JMT PL) post-mkt, full-yr sales EU11.9b
• Greene King (GNK LN) 8am, 3Q sales/IMS
• Metro (MEO GY) 7:30am, 1Q sales EU18.7b
Good day and happy trading!
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