French Stocks: Cameleon, Eurofins, Safran, Zodiac Aerospace
The following stocks rose or fell in the French market. Symbols are in parentheses after company names.
Bureau Veritas SA (BVI FP) rose 2.1 percent to 48 euros, a third straight gain. The French goods-inspection company is considering buying an electronic devices company in China in the coming weeks, Investir said Aug. 28, citing an interview with Chief Executive Officer Frank Piedelievre.
Cameleon Software (CAM FP) jumped 1.6 percent to 62 cents. The e-commerce software developer said revenue from software sales rose to 3.1 million euros ($3.9 million) from almost 2 million in the year-earlier period.
Etablissements Maurel & Prom SA (MAU FP) declined 0.5 percent to 8.71 euros, taking its loss in 2010 to 31 percent. The French oil explorer focusing on Africa said first-half profit jumped on currency gains while results from drilling in Colombia were disappointing.
Eurofins Scientific SA (ERF FP) rose 2.2 percent to 36.59 euros, after earlier climbing as much as 4.8 percent. The provider of quality testing for wine and drugmakers said earnings before interest, taxes, depreciation and amortization rose 51 percent in the second quarter.
Renault SA (RNO FP) fell 1.3 percent to 32.11 euros. Car sales in the U.S. are “a bit weaker” than forecast and recovery worldwide “a bit bumpy,” Carlos Ghosn, chief executive officer of the French carmaker, said at a media roundtable in Abu Dhabi today.
Sanofi-Aventis SA (SAN FP) rose 0.7 percent to 45.56 euros. France’s largest drugmaker opened the door to a hostile bid for Genzyme Corp. after going public with an $18.5 billion cash offer for the U.S. biotechnology company and saying it would “consider all alternatives” to complete a deal.
Spir Communication SA (SPI FP) gained 1.6 percent to 18.19 euros, extending last week’s 1.6 percent advance. The publisher of classified-ad newspapers and leaflets said it will form an Internet insurance broker with partners in 2011.
Valeo SA (FR FP) declined 2.4 percent to 26.88 euros. The car-parts maker expects a sharp slowdown in demand at the end of this year as car-scrapping incentives are halted, La Lettre de L’Expansion reported, without citing anyone.
Zodiac Aerospace SA (ZC FP), Europe’s biggest maker of airplane seats, surged 11 percent to 47.89 euros, the biggest gain since April 2003. Safran SA (SAF FP) is preparing another bid for Zodiac and is willing to pay a premium of about 35 percent, French daily La Tribune reported, citing unidentified people. Safran, a maker of defense equipment, said it’s not preparing an offer and reiterated a merger of the two aerospace suppliers would make sense. Safran dropped 2.3 percent to 18.89 euros.
Bloomberg reserves the right to edit or remove comments but is under no obligation to do so, or to explain individual moderation decisions.