Nov. 10 (Bloomberg) -- France's CAC 40 Index rallied for a second day, climbing 81.87, or 2.4 percent, to 3,469.12 at 12:33 p.m. in Paris. The SBF 120 Index rose 3 percent, as all but 10 shares advanced.

The following share rose or fell. Stock symbols are in parentheses after company names.

Air France-KLM Group (AF FP) gained 13.5 cents, or 1.2 percent, to 11.85 euros. Europe's biggest airline said passenger traffic rose 9 percent in October as more travelers took trans-Atlantic flights and after year-earlier figures were held back by a strike.

BNP Paribas SA (BNP FP) retreated 2.58 euros, or 4.7 percent, to 52.43 after Keefe, Bruyette & Woods Ltd. downgraded France's largest bank to ``market perform'' from ``outperform.''

``BNP is not immune to the effects of a global downturn,'' the analysts wrote in a note to investors. ``We see a further rise in the cost of risking during 2009.''

Carbone Lorraine SA (CRL FP) surged 1.92 euros, or 7.8 percent, to 26.53 euros. Les Echos reported Societe Generale SA may buy as much as 17.5 percent of the company.

Evialis SA (GYO FP) gained 1.50 euro, or 7.7 percent, to 21. The animal-feed producer said first-quarter revenue rose 64 percent to 303.5 million euros.

Natixis SA (KN FP) gained 10 cents, or 4.7 percent, to 2.22 euros. CNP Assurances SA, France's largest life insurer, has the support of its shareholders for a cash bid for the insurance unit of Natixis, Les Echos reported, citing an unidentified person.

State-owned Caisse des Depots et Consignations, which is CNP's largest investor, the French postal service's banking unit La Banque Postale and mutual bank Groupe Caisse d'Epargne are willing to contribute to the bid in line with their CNP stakes, the newspaper said. Natixis hopes to get between 800 million euros ($1.03 billion) and 1 billion euros for its insurance arm, Les Echos said.

PPR (PP FP) added 1.98 euros, or 4.3 percent, to 48. JPMorgan Chase & Co. upgraded the owner of the Gucci luxury- goods brand to ``overweight'' from ``neutral,'' saying the company will maintain its dividend and has no need for additional financing.

Schneider Electric SA (SU FP) surged 4.76 euros, or 10 percent, to 51.65, leading gains among industrial shares after China unveiled a $586 billion plan to stimulate the economy, including infrastructure spending.

Theolia SA (TEO FP) climbed 20 cents, or 3.5 percent, to 5.95 euros. The French wind-power company part-owned by General Electric Co. signed a contract with Vestas Wind Systems A/S to buy 35 turbines. Theolia will use the equipment, with installed capacity of 29.75 megawatts, at the Giunchetto project in Sicily.

Total SA (FP FP), Europe's third-biggest oil company, gained 1.75 euros, or 4.2 percent, to 43.05. Crude oil rallied as much as 5.3 percent to $64.30 after China announced the stimulus package that may spur economic growth and demand for raw materials.

Technip SA (TEC FP), Europe's second-biggest oil-services company, climbed 92 cents, or 4 percent, to 23.72.

Valeo SA (FR FP) advanced 79 cents, or 5.9 percent, to 14.11. Goldman Sachs Group Inc. raised its stake in France's second-largest auto-parts maker to 5.96 percent, the country's stock market regulator said.

To contact the reporter on this story: Sarah Jones in London at sjones35@bloomberg.net.

Last Updated: November 10, 2008 07:44 EST