Adecco, CGGVeritas, EDF, Fromageries, Groupe Ares: French Equity Preview
The following is a list of companies whose stocks may have unusual price changes in Paris. Symbols are in parentheses after company names and prices are from the last close.
France’s CAC 40 Index fell 0.2 percent to 3,621.07. The broader SBF 120 Index also declined 0.2 percent to 2,677.54.
Adecco SA (ADE FP): The world’s largest supplier of temporary workers has been added to the list of “least preferred” business services at BofA Merrill Lynch Global Research. The stock close down 31 cents, or 0.8 percent, at 38.44 euros.
Groupe Ares (ARE FP): The software seller and consulting company’s sales rose to 13.4 million euros ($17.3 million) in the second quarter from 13 million euros a year earlier. The shares closed unchanged at 24 cents.
Electricite de France SA (EDF FP): France’s energy regulator approved a plan to increase electricity prices starting on Aug. 15, the energy and finance ministries said in a joint statement. The average household will pay an extra 3 percent, while small, medium and large companies will pay 4 percent, 4.5 percent and 5.5 percent more, the ministries said. The shares shed 0.7 percent to 33.40 euros.
Fromageries Bel SA (FBEL FP): The cheese maker agreed to pay suppliers more for milk, raising the price by nearly 10 percent to 330 euros per 1,000 liters. The shares added 1.6 percent to 142.40 euros.
CGGVeritas (GA FP): The provider of seismic imaging services had its credit-rating outlook cut to negative from stable by Moody’s Investors Services, which cited uncertainty over the time frame for a recovery in its markets. The decision affects approximately $1.8 billion of long-term debt. The shares fell 1.2 percent to 14.01 euros.
Store Electronic (SESL FP): The maker of public address systems said sales fell to 20.9 million euros in the first half from 30.1 million euros a year earlier. The shares fell 0.5 percent to 9.86 euros.
Bloomberg reserves the right to edit or remove comments but is under no obligation to do so, or to explain individual moderation decisions.