French Stocks: Alcatel, EDF, Lafarge, Technip, Total Are Active
France’s CAC 40 Index fell 14.62, or 0.4 percent, to 3,637.29 at 2:18 p.m. in Paris, trimming this month’s gain to 5.6 percent. The SBF 120 Index dropped 0.5 percent.
The following stocks were among the most active in the French equity market. Stock symbols are in parentheses after company names.
Alcatel-Lucent SA (ALU FP) increased 8.3 percent to 2.24 euros. France’s biggest telecommunications equipment maker confirmed its full-year adjusted operating margin target and posted a second-quarter operating profit.
EDF SA (EDF FP) gained 1.1 percent to 32.82 euros. The French utility received an offer from Cheung Kong Infrastructure Holdings Ltd. to buy the company’s U.K. power networks for 5.8 billion pounds ($9.1 billion).
Euler Hermes SA (ELE FP) gained 5.8 percent to 61.90 euros. The world’s largest insurer of trade credit reported first-half net income of 147.4 million euros, up from 0.7 million euros a year earlier.
European Aeronautic Defence & Space Co. (EAD FP) rose 3.2 percent to 18.065 euros. The company raised its target for 2010 revenue as deliveries of passenger jets at Airbus increase.
Sales will grow to more than 44 billion euros ($57 billion) from 42.8 billion euros in 2009 and earnings before interest and tax should reach about 1.2 billion euros, EADS said today. The company had in March predicted Ebit of 1 billion euros and stagnant sales.
Ingenico SA (ING FP) increased 5.2 percent to 19.45 euros. The maker of payment terminals reported first-half net income of 11.2 million euros, up from 4.8 million euros a year earlier, and raised its full-year revenue forecast.
Lafarge SA (LG FP) decreased 3.4 percent to 42.01 euros as the world’s biggest cement maker cut its outlook for demand.
The company said it expects cement volume in its markets to increase 3 percent at best, less than a previous forecast for an increase of as much as 5 percent. In the worst case, they may fall by 1 percent instead of being unchanged, Lafarge said.
Schneider Electric SA (SU FP) increased 2 percent to 88.15 euros. The world’s biggest maker of circuit breakers raised its margin target for 2010. Schneider now aims to lift 2010 earnings before interest, taxes and amortization before restructuring costs and the impact of the purchase of Areva Distribution to “around” 15.5 percent of sales, up from a previous target of 14 percent.
Technip SA (TEC FP) lost 2.2 percent to 50.74 euros. Oil fell in New York, poised for its biggest weekly decline in four, on concern that faltering global economic growth will curtail a recovery in fuel demand.
Total SA (FP FP) gained 1 percent to 38.74 euros. Europe’s third-largest oil producer reported a 72 percent increase in second-quarter adjusted net income.
To contact the reporter on this story: David Altaner in London at daltaner@bloomberg.net
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