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Air France, EADS, Casino, France Telecom May Move: French Equity Preview
The following is a list of companies whose stocks may be active in Paris. Symbols are in parentheses after company names. Prices are from the last close.
The CAC 40 Index advanced 40.77, or 1.1 percent, to 3,672.2, extending the biggest weekly gain since July. The SBF 120 Index also added 1.1 percent.
Air France-KLM (AF FP): The airline said it expects some disruption in flights in France on Sept. 7 as a result of a strike to protest government plans to reform the country’s pension system. The shares rose 0.7 percent to 11.01 euros.
Casino Guichard Perrachon SA (CO FP): Venezuela said it will pay $690 million for an 80 percent stake in the French supermarket operator’s local retailing units. The stock advanced 0.8 percent to 66.60 euros.
European Aeronautic, Defence & Space Co. (EAD FP): Airbus SAS won’t meet its 2010 delivery target for the A380 superjumbo, La Lettre de L’Expansion reported, without citing anyone.
Airbus will deliver about 16 or 17 European superjumbos this year, compared with a target of 20, according to La Lettre. The shares of EADS, parent company of Airbus, lost 1.2 percent to 18.145 euros.
France Telecom SA (FTE FP): Telekomunikacja Polska SA, the Polish unit of France’s biggest phone operator, said a court ruling ordering it to pay about 2.9 billion kroner ($502 million) to DPTG I/S will have a negative impact on its earnings this year. Separately, British customers of Orange and Deutsche Telekom’s T-Mobile will be able to roam on each other’s networks from October, Reuters reported, citing the new joint venture of the two companies. The shares gained 0.7 percent to 16.245 euros.
Groupe SEB SA (SK FP): The household appliances maker hopes to complete the purchase of Colombia’s Musa soon and is seeking acquisitions in Asia, Latin America and eastern Europe, Chairman and Chief Executive Officer Thierry De La Tour D’Artaise said in an interview with Le Journal Des Finances. The stock fell 0.2 percent to 59.75 euros.
LVMH Moet Hennessy Louis Vuitton SA (MC FP): The company will sell its La Brosse et Dupont brushmaking unit to management, La Lettre de L’Expansion reported today, without saying where it got the information. The shares fell 1.9 percent to 98.31.
Total SA (FP FP): Nigeria will be consistent and unwavering in implementing a new law that seeks more jobs and businesses in the oil and gas industry for citizens, President Goodluck Jonathan said. Europe’s third-biggest oil company is a joint venture partner of state-owned Nigerian National Petroleum Corp. The shares climbed 1.6 percent to 38.79 euros.
Veolia Environnement SA (VIE FP): Citigroup Inc. raised its recommendation for the world’s biggest water utility to “buy” from “sell” as analysts said the dividend yield was sustainable and attractive. The shares rose 1.9 percent to 19.295 euros.
Vivendi SA (VIV FP): The music and video-games company owner plans to invest as much as 1.5 billion reais ($866 million) in Brazil this year, CEO Jean-Bernard Levy said in an interview with O Estado de S. Paulo newspaper. Also, Universal Music Group, a unit of the French company, lost a federal appeals court ruling over royalties brought by the Detroit producers who helped launch rapper Eminem’s career. The stock rose less than 0.1 percent to 19.47 euros.
To contact the reporter on this story: Andrew Roberts in Paris at Aroberts36@bloomberg.net.
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