French Equities Rebound: Lafarge, Saint-Gobain, Klepierre, Imerys Advance
The following shares rose or fell in Paris. Stock symbols are in parentheses.
BCI Navigation (BNA FP) soared 116 percent to 2.83 euros, a record gain. The developer of computer software said it will form a partnership with IGN France International.
Imerys SA (NK FP) advanced 3.8 percent to 41.79 euros, gaining for a second day. Gilles Michel, currently chief executive officer of France’s strategic investment fund, will join the minerals processor in coming months and be named as chairman and chief executive in 2011, the company said.
Klepierre SA (LI FP) climbed 1.9 percent to 22.61 euros, gaining for a third day. Europe’s second-largest mall owner was raised to “overweight” from “neutral” at HSBC.
Lafarge SA (LG FP) surged 5.1 percent to 49.16 euros for the biggest gain in about a month. Citigroup Inc. lifted its recommendation on the world’s biggest cement maker to “buy” from “hold.”
Cie. de Saint-Gobain SA (SGO FP) jumped 6.3 percent to 32.19 euros, rebounding from four days of losses. Citigroup Inc. raised its recommendation on Europe’s biggest supplier of building materials to “buy” from “hold.”
STMicroelectronics NV (STM FP), Europe’s biggest chipmaker, rose 2.4 percent to 6.90 euros, gaining for a second day. Worldwide chip sales will grow by 28.4 percent to $290.5 billion in 2010. The forecast projects 6.3 percent growth in 2011 to $308.7 billion, followed by 2.9 percent growth in 2012 to $317.8 billion, the Semiconductor Industry Association said.