French Stocks Decline, Paced by Accor; LVMH, Pernod and Peugeot Advance
France’s CAC 40 Index fell 18.51, or 0.5 percent, to 4,031.99 in Paris. The SBF 120 Index slipped 0.4 percent.
The following shares rose or fell in Paris. Stock symbols are in parentheses.
Accor SA (AC FP) dropped 2.1 percent to 43.56 euros, falling for the first day in three. The stock was cut to ‘add’ versus ‘buy’ at Oddo Securities.
Air France-KLM Group (AF FP) rose 0.9 percent to 12.40 euros, reaching its highest price since Jan. 19. Europe’s biggest airline was raised to “buy” from “hold” at Royal Bank of Scotland Group Plc.
LVMH Moet Hennessy Louis Vuitton SA (MC FP) jumped 1.5 percent to 90.05 euros, the highest price since September 2000. The world’s biggest luxury-goods manufacturer reported first- quarter sales of 4.47 billion euros, compared with an analyst estimate of 4.2 billion euros.
Pernod Ricard SA (RI FP) climbed 2.7 percent to 66.51 euros, reaching its highest price since 2008. The world’s second-largest liquor maker had its price estimate raised to 74 euros from 69 euros at Nomura Holdings Inc.
PSA Peugeot Citroen (UG FP) advanced 2.7 percent to 22.45 euros. The carmaker’s talks over an alliance with Changan Automobile of China may be concluded soon, French daily Les Echos reported, without citing anyone. Peugeot declined to comment, the newspaper said.
PSB Industries (PSB FP) soared 4 percent to 19.7 euros, the biggest rise in a month. The maker of perfume packaging and specialty chemicals said first-quarter sales rose 13 percent to 53.5 million euros and forecast annual sales growth may beat its 5 percent target.
Tessi SA (TES FP) advanced 4.5 percent to 58.5 euros, rising for the sixth day. The data-processing company said 2009 profit rose to 23.9 million euros, up from 8.7 million euros a year earlier. It sees all sectors of its business remaining “buoyant” in 2010.
Total SA (FP FP) fell 1.1 percent to 43.50 euros, extending yesterday’s 0.9 percent loss. The company with the largest weighting on the CAC 40 slipped as the price of oil fell for the fifth day. Crude oil for May delivery dropped $1.67, or 2 percent, to $82.67 a barrel at 10:27 a.m. on the New York Mercantile Exchange.
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