French Stocks: BNP Paribas, Casino, Klepierre, Michelin
France’s CAC 40 Index fell for a second day, losing 33.33, or 0.9 percent, to 3,751.07 at 4:47 p.m. in Paris. The SBF 120 Index slid 0.9 percent to 2,786.87.
The following shares were among the most active in the French equity market today. Stock symbols are in parentheses after company names.
BNP Paribas SA (BNP FP), France’s largest bank, surged 1.5 percent to 55.52 euros. Moody’s Investors Service changed the outlook for the French banking system to stable from negative. It said the banks’ mix of retail and commercial banking franchises should enable them to produce a more stable performance in the future. Natixis (KN FP) advanced 2.1 percent to 4.44 euros, ending a two-day loss.
Casino Guichard Perrachon SA (CO FP) dropped for a second day, losing 2.4 percent to 68.12 euros. Barclays downgraded the supermarket operator to “underweight” from “equal weight” because of the economic “weakness in France.”
Klepierre SA (LI FP) declined 2.2 percent to 27.14 euros, the second day of losses, as HSBC Holdings Plc cut its rating on Europe’s second-biggest shopping center owner to “underweight” from “overweight.”
Mercialys SA (MERY FP) lost 1.5 percent to 27.39 euros, the biggest loss this month. The real-estate investment trust controlled by retailer Casino Guichard-Perrachon SA was downgraded to “neutral” from “overweight” at HSBC.
Michelin & Cie. (ML FP), the world’s second-largest tiremaker, fell 2.2 percent to 63.74 euros, the steepest decline in three weeks, tracking losses in competitors Pirelli & C. SpA and Continental AG.
Robertet SA (RBT FP) rose 1.9 percent to 109 euros, the highest since Aug. 5. The maker of liquid flavorings, perfumes and aromatic ingredients earned 13.5 million euros in the first half compared with 6.6 million euros a year earlier.
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