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"There are two ways to bring artists in a festival. It depends if you have money or if we have not. " Here's how CEO François Floret and coprogrammateur Festival Route du Rock in Saint-Malo (from 12 to 14 August 2011), summarizes the difficulties faced by the organizers of summer music festivals at the time to place their programming. Because the area is changing for ten years.

Faced with the collapse of record sales, artists tend to want to catch up on their live performances. In recent years, the stamp of a headline average doubled from 100,000 to about 200,000 euros concert . Two years ago, the claims of artists such as rock bands Radiohead and the Arcade Fire could reach 500,000 euros a night delivery. A luxury that the Route du Rock, after more than 20 years of existence can not afford.Especially since the philosophy of the festival "has always been focused on the discovery of new talent," says its director.

A total of 340,000 euros per year are devoted to the artistic, or just over 19% of the annual budget of the event. Festival Rock en Seine in Paris (from 26 to 28 August 2011), this percentage reached 33% on a budget of 6 million, for a festival attendance of 105,000 in 2010.

Few artists have their own agents

To perform their scenes, organizers go through the special agents of the artists. But in most cases, they must go to production companies (the "turners") who sell the show, usually including travel, by winning 15% of the sale. Remains the responsibility of organizing the cost of hotel and catering.The financial balance of a music festival, big or small, is always delicate balance between inflation of stamps and need for headliners known to attract an audience often more sensitive, especially in times of crisis, to "safe bets".

Especially as competition from large foreign festivals like that of Open'er in Gdynia (Poland), heavily sponsored and line art more variable, contributes to the inflation of the claims of artists and the business side of an event. This year's Route du Rock will receive about 17,000 spectators to reach its equilibrium point. To get to lower costs artistic, the organizers can sometimes rely on the recognition of certain groups. This was the case last year, where the rock band The National has made a financial investment for their third participation in the Route du Rock, who has made known in France in 2005.But these returns elevators are rare, "artists tend to quickly forget their ideals of youth" deplores François Floret.

Artistic expenses under pressure

More confidence in the festival of the summer Vaour (Midi-Pyrenees), the artistic budget does not exceed 28%, 5% for the music (about 10,000 euros). Again, the trend in the price of contracts bought production companies are on the rise. No need to be an international star in setting its prices. "We can see, especially for groups that have no problems selling dates, says Sylvie De Sousa, in charge of music programming of the festival that drew in 2010, 18,000 people in nine days. Those who have more difficulty selling their shows make an effort. " The average cost to the organizers groups received between 800 and 1300 euros per service.And the festival should be more attention to his artistic expenses, some concerts are free.

Finally, the last festival that highlights specific financial issues, the uniqueness of the service provided. Artists to bring only one date is in fact a greater financial effort, where the organization of a tour allows you to spread fixed costs over several dates. A show to 1500 euros per day on tour will be up an average of 4000 euros for a single date.

Theater festivals are much more subsidized

In terms of theater festivals, the financial efforts of the programming is even greater. "Music festivals generate more ticket revenue for those plays, because they mobilize a public far more numerous. Which is also the case for ancillary revenues (bar, derivatives).In the end, the part flow from music festivals, especially the general public is much stronger, "said Jonathan Fox, the head of the theater program of the festival Vaour. In addition, the confidential nature of the discipline is also in this sense, although of lesser importance.

On the other hand, the troops come for several performances, which smooths the cost over several days. Ultimately benefits of a theater festival like the summer of Vaour range from 500 to 3000 euros, "the notoriety aspect of the company also playing its role," says Jonathan Fox. By comparison, a one-man show in Paris like the comedian François Rollin costs between 5,000 and 10,000 euros. These characteristics explain why the sector is generally far more subsidized. For example, 22% of the budget of the festival of the summer of Vaour comes from public subsidies.

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The employment contract is signed between Christine Lagarde and the International Monetary Fund. The new CEO of the institution will, in the words of the document published today, an annual salary of 467,940 dollars (323,257 euros). It will benefit in addition to 83,760 dollars per year (57,829 euros) for participation in expenses. In total, the director will receive 551,700 dollars (380,989 euros) a year, a net amount of taxes on income.

The remuneration of Christine Lagarde was up 1.1% compared with that of Dominique Strauss-Kahn as stated in the contract signed in 2007 when he took office. A parallel increase in inflation over the past four years. The price index for the Washington area, which serves as reference for the calculation of wages to the IMF, has in fact increased by 1.1% between May 2007 and May 2011.The remuneration of Christine Lagarde will be indexed to inflation, the IMF said, and adjusted each July 1.

In addition, like its predecessor, at the cost of business travel by Christine Lagarde will be paid by the IMF. With a change at the margin, however: even if not married Christine Lagarde, his companion will also be covered by these reimbursements. The IMF said the word "spouse" of the partner. Christine Lagarde, in fact, lives in concubinage with Xavier Giocanti since 2006.

The IMF has mostly benefited from the inauguration of Christine Lagarde to strengthen the code of conduct of the Director of the IMF, from the document signed by Dominique Strauss-Kahn in 2007. It is now clear that the new director should "avoid even the appearance of improper conduct," a phrase that was not before.It will also, as now all members of the IMF, training in ethics-the very word was not included in the document of 2007. Another addition, the French will see banned from participating in any political meeting, although it may remain a member of a party if it so wishes.

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The battle to win the big contract from the French offshore wind organized. After Areva, which has partnered with the Spanish Iberdrola last week, it was the turn of EDF Energies Nouvelles to partner with a foreign group specializes in offshore wind, according to Les Echos. A subsidiary of EDF should indeed unveil Monday morning a partnership with Danish DONG Energy to meet the tender to be published July 11, the newspaper said. The tandem will try to get hold of the entire order worth a total of 10 billion euros.

The project, detailed by Nicolas Sarkozy last January after being repeatedly postponed, for the first phase is to establish 600 wind turbines with an installed capacity of 3,000 megawatts (MW) in France. By 2020, the government is a target of 6000 MW of offshore wind, or 1200 units to be built.

In detail, EDF EN and DONG Energy would create a joint venture majority owned by EDF Energies Nouvelles. This new entity will offer a special place in the Danish group in the race to the contract and will allow EDF EN to join a specialist offshore wind. In fact, DONG Energy already operates eleven offshore wind farms in Europe. The Danish group have been very courted, especially by GDF Suez.

In contrast, the subsidiary of EDF is still not present in the field of wind energy at sea, but EDF EN goes into working order. Having established a partnership with Alstom to supply him the offshore wind, he offered the services of three groups who worked on the project.

DONG Energy and EDF EN, associated with Alstom, is positioned on the five areas covered by the tender in competition with Areva / Iberdrola on two areas and three areas with GDF-Suez, Areva Vinci.Other contenders could also decline by 11 July.

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The Tokyo Stock Exchange shows the green on Friday morning the Nikkei advance of 0.61% to 9876.10 points to 7 hours while the broader Topix rises at the same rate, at 854.39 points. A good mood, which contrasts with a local situation still fragile confidence of major Japanese companies fell because of difficulties due to the tsunami of March 11, and the extent of recovery is rendered uncertain by the lack of electricity under this was, according to the results of the Tankan index. According to the quarterly survey conducted by the Bank of Japan (BoJ) in June, the moral of the major manufacturing firms plunged by 15 percentage points in March to -9 points.

But the unemployment rate in Japan fell 4.5% in May against 4.7% in April, said Friday the Ministry of Internal Affairs.In May, there were 2.93 million unemployed in the rest of Japan, 11.5% from a year earlier (area basis) for a working population increased slightly from 0.1% to 60.19 million people.

In addition, new vehicle sales in Japan, excluding mini-models, dropped 23.3% in June compared to the same month last year, to 225,024 copies, the consequences of the tsunami of March 11 continued to weigh on the activities of automotive industry. The decline is however much less pronounced than the dives 50% and 38% respectively recorded in April and May, in the aftermath of natural disasters absolutely free credit score.

Greece supports the markets

But it is mainly Greek considerations that bear the financial markets yesterday.Like the European and American stock exchanges, the main financial markets in the Asia-Pacific moving sharply higher, while the Greek Parliament finally adopted the unpopular austerity plan, paving the way for the release of next installment Assistance from the European Union and the International Monetary Fund.

In China, the Shanghai CSI does it take 0.60% to 3062.44 points while the Hang Seng in Hong Kong is 1.53% to 22,398.10 points. Manufacturing activity in China continued to grow in June, but at a much slower rate, according to an index released Friday by an organization close to the government, indicating that the measures taken by Beijing to control inflation bear fruit.PMI purchasing managers of the China Federation of Logistics and Purchasing (CFLP) fell last month to 50.9, against 52.0 in May.

In South Korea, the KRX advance of 1.18% to 4512.99 points. In India, the BSE allows itself to 0.42% 18,924.60 points and Singapore's Straits Times gained 0.55% to 3137.70 points.

How to raise potential growth of France? The question for the Centre for Economic Analysis (CAE) – which depends on Matignon – trying once again to respond, this time taking a new dimension: the answer must now take account of financial and economic crisis that has struck down most of the world and considerably tightened budget constraints.

For France to regain competitiveness, the report – Philippe Aghion, Gilbert Cette, Élie Cohen and Mathilde Lemoine – start with going against the fashion of the moment: German copy. "The surplus comes from a German foreign competitiveness gained at the cost of wage restraint imposed over the past fifteen years.This experience is difficult to generalize to all European countries, "they wrote in the document presented yesterday to Secretary of State for Foreign Trade, Pierre Lellouche.

Spend wisely

The report calls for "focus on policies that have a strong effect on medium and long term." And it puts the focus once again on the traditional weaknesses of France: it must develop "a policy of investment in higher education and R & D", more flexible markets for goods and labor, secure career paths, and support the development of dynamic sectors, "such as healthcare, cleantech instant payday loan."

But the authors do not simply advocate new policies. They also raise the funding.Due to budget constraints, they provide should proceed "not a net increase in spending, but a shift of the latter." That's why they point the savings could be achieved by reducing or eliminating certain tax loopholes – the most expensive – and this "despite the inevitable discontent that such measures would generate." And include the reduction in VAT on the restoration and construction, as well as the tax exemption of overtime, which has "not had the desired effect in terms of job creation."

Spend yes, but smart. Intervene "targeted". It's "third way" – between austerity and high expenditure – proposed by the authors. A path that could, in their opinion, report three fourths of GDP per year in potential growth.

Owning a car costs more expensive. Not only do gasoline prices have soared, but the maintenance costs, insurance, tolls or taxes increase every year, as shown in a study by the Automobile Club de France on Thursday. For anyone put off by these costs, young companies believe they have found the solution on their website, they are related to vehicle owners and individuals wishing to rent one. Car sharing, which allows individuals to rent a self-service vehicles, as is the case with Autolib in Paris, and goes into high gear.

The principle is simple: a website, such as car Lib, Livop CityZenCar and the owner shows the windows of availability of the vehicle, which the state meets certain conditions.In turn, tenants, previously registered on the site, reserve the car for a few hours, days or weeks. Then, linking depends on the site: Car Lib, industry pioneer in France since June 2010, highlights the community side. Individuals come together to exchange therefore a deposit check and vehicle documents. In contrast, in Livop, no meeting is planned to create an "automatic respect", according to Kieran Connolly, founder of the company that rents cars since December 2010. No key exchange then, but one case, the "Livop-box" installed on the car and allowing the tenant to open it.

Finally, the newest, CityZenCar, which is open for rental from mid-April, seeks to create a "community members" between neighbors who can lend their cars regularly."We try as people build a relationship on our site, and it makes more sense if they live in the same neighborhood," said David Laval, founder of the site. CityZenCar offering specialized packages to subscribe to the service as a pass at 12 euros per month for the tenant. The owner may, in turn, equip his car with a box, optional but useful, to 49 euros per month.

"Replace the second vehicle"

With this innovative formula, the pioneers of the industry argue that everyone is a winner. For tenants of vehicles is the way to "replace the famous second vehicle is an additional constraint that evaluates to 5000 euros per year," said Kieran Connolly.The rented car acts as extra vehicle: do some shopping (especially Livop that rents by the hour) or go on holiday (especially in car Lib, where the average rent is 4 to 5 days) . Also, competition would come and no car sharing or rental agencies: "The real competitor is the personal car," says David Laval CityZenCar.

Livop, with 780 tenants and 280 owners of properties on its site, is, moreover, its forward fixed price regardless of the season, which range between 3 and 10 euros an hour, depending on the size and length the vehicle payday loans. Lib car claim its share of the prize "from 40 to 50% lower" than in traditional rental companies. On average, the car rental site, which includes 5,000 members and thousands of vehicles for rent, and back to 25 euros per day.As for members of CityZenCar 3200, where 250 vehicles are available, the owner sets himself the price and can provide discounts to its tenants.

Single insurance contract

"The problem is the first time," said David Laval, stressing the importance of building a trusting relationship with its exchange partner. For this, each start-up highlights the contract negotiated with a single insurer. Important consequence: the conduct of the tenant does not impact on bonuses and penalties of the vehicle owner. Tenants and owners, in addition, asked to assume a note after each experiment.

Vehicle owners also recover a few pennies with their vehicle, previously immobilized. "The owners are often people who already have credit. They come in the idea of ​​sharing, but also to make a small gain, "said Kieran Connolly."These are not people in need," said Paulin Dementhon, but a throw extra money is welcome. In Car Lib, owner busiest realized a gain of 1000 to 1500 euros since June 2010.

Five times less expensive for renters

Finally, for the renters themselves, the formula is a godsend: "The idea was to remove what is the most expensive: the financing of cars, details Kieran Connolly of Livop. Our investment is the development of technology [boxes] and management of leases. But the monthly cost to fund such technology comes on average five times less expensive than maintaining a fleet in a traditional landlord. "Livop ensures, however, negotiate with and garages Carossier preferential rates for its vehicle owners.

To finance start-ups retire from the trade commission, up to 30% among Lib car and 50% in Livop. There is not, however, in CityZenCar where tenants are already paying the monthly pass.

The renters are intended optimistic about the future of the industry: "A large rental company has a fleet of 30,000 vehicles, Kieran Connolly notes. We, if team 1% of the French fleet, there will be 300,000 cars. Ten times. " It remains to convince individuals that their cars can also bring them some money …

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Capgemini continues its acquisitions in Western countries. After the buyback and Avantias Artesys in France and BI Consulting Group in the United States, the group specializes in IT services and outsourcing is in exclusive negotiations with the investment fund Apax Partners to acquire Operator transactional flow multichannel Prosody, according to a joint statement the two companies on Tuesday.

The operation, which could be finalized by the end of July, valuing the company at around 382 million euros, this amount also includes the acquisition price of Internet-EN LevelIP in France and Italy. Present in France, Spain and Belgium, the company achieved a turnover of 172.3 million euros and an operating margin of 15.3% published.Also specializes in cloud computing (cloud computing) and mobile services, Prosody is currently 97% owned by the fund Apax Partners and the management team guaranteed online personal loans.

Offer services that can complement Prosody Capgemini, particularly in the field of new IT services to its clients financial and public sectors, but also telecom and retail. And for the hosting of websites, the customer portfolio of Capgemini and market knowledge will enable it to continue its international development.

The acquisition, funded from net cash from Capgemini, would be accretive to the group's operating margin. The statement said it would also be accretive to earnings per share excluding operational synergies of at least 3% in 2011 and 4% in 2012.

At 9 pm, at the Paris Bourse, the title of Capgemini gained 2.07% to 38.19 euros. This is the largest increase in the CAC 40 to open Tuesday.

The CAC 40 was at a standstill on Monday in the Paris Bourse. On Monday of Pentecost, the absence of much investors account for a sluggish market, with only 1.8 billion traded. At closing, the CAC 40 gained 0.07% at 3807.61 points.

Same hesitation on other European markets, the DAX index of the Frankfurt Stock Exchange edged down 0.22% at 7085.14 points, while the FTSE-100 Square London rose 0.13% in 5773 , 46 points.

In this day of solidarity in which the majority of employees stay home, the absence of major market operators does not help to draw a clear trend. Especially as the business side, no publication was expected. Ditto on the macroeconomic front. The markets are still awaiting a convincing answer to the Greek situation, before returning to a sustainable uptrend.

These same concerns also continue to weigh on the European currency. Side currency, the euro lost indeed some ground against the dollar Monday in a market without much direction, and still hanging on the progress of discussions between EU leaders. They are still struggling to find agreement on how to continue to provide financial assistance to Greece. Around 11:10 in Paris, the European single currency was worth 1.4336 dollars against 1.4348 dollars on Friday night after coming close last Monday the threshold of $ 1.47 for the first time in a month.

Same side of the volatility of oil prices in a market torn between the prospects of increased production by Saudi Arabia and the maintenance of quotas decided by OPEC. In morning trading, a barrel of light sweet crude for July delivery lost 9 cents 99.20 dollars.That of Brent North Sea crude for delivery gained 13 cents to equal 118.91 dollars.

As for values ​​to follow

Altran (-2%, to 5.14 euros)

Yves de Chaisemartin lost Friday the group's management, the Board of Directors of the technology consulting company has designated Philip Hall to replace him.

Air France – KLM (+0.28% to 10.59 euros)

The airline's traffic in the Paris airports Roissy and Orly airports may be disrupted on Monday due to a strike notice filed by a union of mechanics on the ground, have we learned from the company.

Peugeot lead the CAC40 (1.66%, to 27.91 euros), according to a note from Citigroup

The title of the automaker is at the top of the charts of ACC 40, supported by a positive note from Citigroup, which goes from neutral to buy.The broker believes that the U.S. product mix and diversification of Peugeot should be reflected in investors' perception of the title.

The rest of the automotive sector is, however, the penalty, hit by fears of recession in Europe, says one analyst, while stressing that the current valuations of most groups are below their historical levels. Renault (-2.40%, to 35.52 euros) shows the largest decrease in the CAC 40 in front Michelin (-0.96% at 62.71 euros). Outside the CAC 40, yields 2.1% Valeo, to 41.42 euros.

LVMH (+0.48% at 115.35 euros)

Sephora, the cosmetics distribution subsidiary of luxury group, said to have strengthened his hand in the round of Corsica in Russia, becoming the majority shareholder in nearly three years after joining the company's capital .

EDF (+0.19% at 26.73 euros)

NPP Bugey in Ain, had to reduce its production by 10-15% in late May and early June due to increased water temperatures of the Rhone, an effect of the heat wave spring.

Eutelsat Communications (-0.83% to 30.39 euros)

San Marino RTV has selected two Eutelsat satellites to broadcast its programs through Italy and Europe as of June 13

EADS (+0.02% at 21.12 euros)

Airbus chief says EADS, parent company of Airbus, would be protected against hostile takeover bids but, to this end, it was not essential that Germany be a shareholder in the group.

Carrefour (0.45%, to 29.30 euros)

The management of the distribution group said Sunday, a day after a protest movement, have made a major effort for employees of Carrefour Market stores in terms of purchasing power.

A sign that the recovery in employment is accelerating. Job creation has increased sharply in the first quarter of 2011 at a rate two to three times greater than the last quarter of 2010. Depending on whether one considers the figures calculated by INSEE, employment center or ACOSS, all three made public on Thursday morning are 58,000 to 103,000 payroll jobs have been created by companies in the first quarter. A pace of growth varies from 0.4% to 0.6%, while it did not exceed 0.3% per quarter during 2010.

All sectors have benefited from this improvement. Even the industry, which had suffered a haemorrhage during the crisis, saw its numbers stabilize in the first quarter. According to ACOSS, they grew even 0.3%. "The industry created jobs for the first time in 10 years," notes the organization.However, it is the tertiary sector that benefits most from the economic recovery, with an increase in the number of employees by more than 0.5%. The hotel and catering, IT and legal activities and counseling are among the fastest growing sectors.

Strong job growth excluding temporary

More good news: the interim this quarter has contributed little to the strong growth in employment. Sign that sustainable jobs, CDD or CDI, taking over from short missions, the temporary employment in the first quarter rose at a rate four times less intense than last year, with only 7,000 new temporary jobs created. In 2010, the interim was to him alone almost all new jobs (118,000 jobs to 120,000). This quarter, employment center accounts for 57,000 new jobs created, excluding temporary."These volumes were not achieved since the end of 2007," says Bernard Ernst, director of studies and statistics from employment center.

If the increase in employment in the first quarter of 2011 was the strongest since the beginning of the crisis, record job losses recorded in 2008 and 2009 are so far not yet fully recovered. 227,000 jobs are still missing according to the call center jobs to find the pre-crisis levels. A threshold that employment should be taken, according to the agency, at the end of 2012. Because with growth than most economists anticipated lower in the months ahead, job creation should not continue at a vigorous pace that quarter. "A slower growth of GDP in coming quarters will clearly impact on employment.The next figures should be worse, "states Bernard Ernst. For all of 2011, the agency expects 148,000 new jobs.

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The CAC 40 has widened its losses throughout the session. After starting the day on a drop of 0.86% to 3930.59 points, the benchmark index in Paris ended on a loss of 1.89% to 3889.87 points, now under the 3900 points, having already escaped to the 4000 points on Wednesday.

The movement was similar to other European markets. The Dax index featuring the Frankfurt Stock Exchange, which opened down 0.85% at 7155.86 points, finally loses 1.99% to 7074.12 points. The FTSE-100 index of London Stock Exchange, which started on a decline of 1.06% to 5965.02 points, its share for widening its losses to -1.36% at 5847.92 points.

The mood has changed beyond recognition from the beginning of the week. Greece seemed to approach Wednesday in an agreement with Europe and the IMF for further financial assistance, which could avoid insolvency.But the announcement a few hours later by a new Moody's downgrade of the Greek debt was added to the already heavy concerns facing Athens. Judging probable restructuring of the country's sovereign debt, Moody's downgraded three notches the rating of the country, pushing further into the speculative grade. For its part, Spain has managed to raise 3.953 billion euros of bonds 3 and 4 years on the market but, despite strong demand, the rates reflected on the rise.

In this context, risk-taking are not numerous. The activity is minimal anyway since France, Ascension Thursday is a holiday. It has traded about 2.5 billion euros on the CAC on Thursday.

Then the trend has deteriorated further as new economic indicators fell ill this afternoon in the United States.

– Across the Atlantic, the weekly jobless claims fell less than expected in the United States during the week to May 28, at 422 000 428 000 cons (revised) the previous week. And U.S. inventories of crude oil rose against all odds last week.

– However, the U.S. nonfarm productivity rose more than expected in the first quarter, while unit labor costs rose slightly more than expected, according to the second estimate published Thursday by the Labor Department.

Note that the currency market, the euro remains strong against the greenback at 1.4475 dollar.

No values ​​in the green on the Cac 40

As for values, no news.Note, however:

The banking sector

High risk debt Greek, French banks react poorly to the degradation of the country note by Moody's: Societe Generale (-0.80% to 40.20 euros), Credit Agricole (-0,1,66 to 10% , 35 euros), BNP Paribas (-2.58% to 52.41 euros) and Natixis fall (0.96% to 3.605 euros).

AXA (-2.59% to 14.66 euros) also declined.The day before the title had been the star of the Cac 40 gained 1.45%, boosted yesterday by the announcement of its new strategic plan and the sale of its Canadian subsidiary.

Alcatel Lucent: -3.92% to 3.84 euros, STMicroelectronics: -2.53% to 7.50 euros (two of the largest decreases of ACC)

Both values ​​are directly or indirectly penalized by the difficulties of Nokia and the risk of cancer linked to mobile phones raised by the World Health Organization.

EADS (-3.34% to 21.39 euros) suffers from a rise of the euro.

Total: -2.37% to 38.64 euros

The group is penalized by lower oil prices is the main contributor to the decline in the index.

EADS: -2.06% to 21.67 euros

The group is leaded by the strong rebound of the euro.

Lafarge: -2.77% to 45.80 euros, Saint-Gobain: -2.03% to 44.70 euros

Morgan Stanley cut its price target from 53 to 51 euros and reiterated its view weighting online and prefers HeideldbergCement and Saint-Gobain that Deutsche Bank, which remains on the purchase, the price target is 48 to 53 euros.

TF1: -0.88% to 12.43 euros

The group said Wednesday it had received offers "constructive" of several Internet service providers to distribute its pay-TV from 2012.

Trading in Gecimed remain suspended until the opening of the buyout offer followed by a withdrawal bond, its parent company Gecina (-1.10% to 98.90 euros). This opening will be later than June 8, after payment of dividend.