The following stocks rose or fell in the French market. Symbols are in parentheses after company names.
Club Mediterranee SA (CU FP) rose 32 cents, or 2.4 percent, to 13.35 euros, the first gain in seven sessions, as some airlines announced the resumption of air travel. The vacation resort company said it will lose an estimated 5 million euros ($6.7 million) for the week of April 15 because of travel disruptions caused by the cloud of volcanic ash from Iceland.
Michelin SA (ML) , France’s biggest maker of tires, gained 1.42 euros, or 2.7 percent, to 54.10, rebounding from two days of losses. Rubber prices may drop as much as 22 percent by the end of 2010 as this month’s rally to a record was too steep for tire makers, said an official at Marubeni Corp., Japan’s largest trader of the commodity.
PSA Peugeot Citroen (UG) , France’s biggest carmaker, rose 1.11 euros, or 5.1 percent, to 22.88. Renault SA (RNO) , the second-largest, climbed 1.55 euros, or 4.5 percent, to 35.63. Daimler AG shares advanced as much as 8.1 percent in Frankfurt after the world’s second-biggest maker of luxury vehicles raised its profit forecast for Mercedes-Benz cars and the truck unit.
Radiall SA (RLL) lost 1.3 euros, or 1.9 percent, to 67.20 euros. The maker of electronics products and connectors said it expects full-year 2010 sales to be in line with 2009 levels. First-quarter revenue fell to 41.4 million euros from 45.1 million euros a year earlier.
Safran SA (SAF) rose 21 cents, or 1.1 percent, to 19.10 euros. Europe’s second-largest maker of aircraft engines confirmed its outlook for the full year after reporting that first-quarter revenue fell 2.5 percent, hurt by lower demand for engine casing and landing gear for business and regional jets and delays in Airbus A380 deliveries.
Schneider Electric SA (SU) , the world’s largest maker of circuit breakers, climbed 3.87 euros, or 4.5 percent, to 89.11 euros. Eaton Corp., the Cleveland-based maker of engine valves and transmissions, posted first-quarter profit that exceeded analysts’ estimates and raised its 2010 earnings forecast as demand increased for car and truck parts. Schneider is due to report first-quarter sales tomorrow.
Soitec SA (SOI) jumped 40 cents, or 3.6 percent, to 11.52 euros, taking the gain this year to 15.2 percent. The maker of materials for chips reported fourth-quarter sales of 62.6 million euros, up 20 percent from the previous quarter and 75 percent higher than the year-earlier period. Analysts at Natixis described the results in a report today as “excellent.”
Total SA (FP) climbed 87 cents, or 2 percent, to 43.74 euros, the first gain in three days. Europe’s third-largest oil company was raised to “buy” from “hold” at Citigroup Inc., which cited the stock valuation.
To contact the editor responsible for this story: David Merritt at email@example.com.