French Stocks: Alstom, Lagardere, Natixis, Groupe Pizzorno Shares Move
France’s CAC 40 Index decreased 1.2 percent to 3,450.19 at the 5:30 p.m. close in Paris, extending yesterday’s 1.8 percent tumble. The SBF 120 Index declined 1.1 percent to 2,562.79.
The following shares were among the most active in the French equity market today. Stock symbols are in parentheses after company names.
Alstom SA (ALO FP) retreated 2.3 percent to 37.61 euros, extending yesterday’s 3.1 percent loss. Royal Bank of Scotland Group Plc rated the world’s third-largest power-equipment maker “sell” in new coverage.
ArcelorMittal (MT NA), the world’s largest steelmaker, decreased 2.8 percent to 22.12 euros, falling to its lowest price since July 5. European basic-resource stocks were the worst performers in the Stoxx Europe 600 Index.
Lagardere SCA (MMB FP) gained 4 percent to 29.05 euros after Exane BNP Paribas upgraded its stance on the shares to “outperform” from “underperform,” saying it estimates higher growth in advertising and services.
Total SA (FP FP), France’s largest oil company, lost 1.1 percent to 36.98 euros, its second straight decline. Crude oil futures fell after the U.S. Energy Department said stockpiles gained 4.11 million barrels.
Vallourec SA (VK FP), a maker of steel pipes for the oil and gas industry, sank 3.7 percent to 66.5 euros.
To contact the reporters on this story: Adam Haigh in London at ahaigh1@bloomberg.net; Francesca Cinelli in Milan at fcinelli@bloomberg.net.
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