CAC 40 Index Climbs; Casino, Veolia Environnement Advance, Dexia Declines
France’s CAC 40 Index rose 12.53, or 0.3 percent, to 3,684.73 at the 5:30 p.m. close in Paris, extending last week’s biggest gain since July. The SBF 120 Index advanced 0.4 percent.
Casino Guichard Perrachon SA (CO FP) rose 1.87 euros, or 2.8 percent, to 68.47 euros. Venezuela said it will pay $690 million for an 80 percent stake in the French supermarket operator’s local retailing units.
Electricite de France SA (EDF FP) rallied 81.5 cents, or 2.5 percent, to 32.91 euros as German Chancellor Angela Merkel proposed an extension of nuclear power that would let reactors owned by Germany’s largest utilities avert a planned shutdown by 2022. EDF owns a 45 percent stake in EnBW Energie Baden- Wuerttemberg AG, Germany’s third-biggest utility.
Lagardere SCA (MMB FP) dropped 1.5 percent to 28.31 euros and Dexia SA (DEXB BB) declined 2.3 percent to 3.36 euros. The companies will be replaced by Natixis (KN FP) and Publicis Groupe (PUB FP) in the benchmark CAC 40, according to a statement from NYSE Euronext. Natixis shares rallied 5.9 percent to 4.68 euros while Publicis increased 1.1 percent to 34.82 euros.
PPR SA (PP FP) rose 1.35 euros, or 1.3 percent, to 109.30 after Exane BNP Paribas raised its recommendation for the owner of the Bottega Veneta and Fnac retail chains to “outperform” from “neutral.”
Veolia Environnement SA (VIE FP) rallied 63 cents, or 3.3 percent, to 19.93 euros after 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.
To contact the reporter on this story: Sarah Jones in London at sjones35@bloomberg.net.
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