French Stocks: ArcelorMittal, Credit Agricole, Societe Generale Are Active
France’s CAC 40 Index fell 2.7 percent, the most since July 1, to 3,628.29 at the 5:30 p.m. close in Paris. The broader SBF 120 Index fell 2.7 percent to 2,684.09.
The following shares are among the most active in the French equity market today. Stock symbols are in parentheses after company names.
ArcelorMittal (MT NA), the world’s largest steelmaker, retreated for a second day, dropping 3.9 percent to 24.03 euros. Basic-resource shares posted the second-largest decline among 19 industry groups in the Stoxx Europe 600 Index, falling 3 percent, after the Federal Reserve said the pace of the economic recovery is likely to be “more modest” than forecast.
Dexia SA (DEXB BB) tumbled 5 percent to 3.56 euros as banking stocks were the worst performers today in Europe. Credit Agricole SA (ACA FP) fell for the second consecutive day, dropping 4.8 percent to 10.46 euros. Societe Generale (GLE FP) lost 4.2 percent, the most since July 1, to 43.18 euros.
GDF Suez SA (GSZ FP) retreated 2.8 percent to 25.63 euros, the lowest price since July 30. The company’s Aa3 senior unsecured credit rating was placed on review for a possible downgrade by Moody’s Investors Service after it agreed to buy International Power Plc. The review affects about 16 billion euros ($20.8 billion) of debt securities.
Lafarge SA (LG FP) shed 4.1 percent, the most since July 1, to 38.51. The world’s biggest cement maker tracked construction and materials stocks, which were among the worst performing in Europe today.
To contact the reporter on this story: Peter Evans in London at pevans15@bloomberg.net.
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