Latecoere, Pernod Ricard, Peugeot, Soitec: French Equity Preview
The following is a list of companies whose stocks may have unusual price changes in Paris. Symbols are in parentheses after company names and prices are from the last close.
France’s CAC 40 Index gained 1.9 percent to 3,782.48 and the broader SBF 120 Index rose 1.8 percent to 2,808.87.
Accor SA (AC FP): The hotel operator was upgraded to “outperform” from “neutral” at Credit Suisse Group AG. The shares added 1.1 percent to 26.21 euros.
Latecoere SA (LAT FP): Spirit Aerosystems Holdings Inc., the airplane component maker spun off from Boeing Co. in 2005, may bid for Toulouse, France-based Latecoere, Le Figaro said. Officials from Wichita, Kansas-based Spirit will meet Latecoere Chairman Pierre Gadonneix to discuss an offer, the French daily newspaper reported, without giving a date for the meeting or citing anybody. The shares fell 1.3 percent to 6.22 euros.
PSA Peugeot Citroen (UG FP): The French carmaker aims to double sales by 2020, German newspaper Euro am Sonntag reported, citing an interview with sales chief Jean-Marc Gales. The stock jumped 3.1 percent to 25.12 euros.
Pernod Ricard SA (RI FP): The liquor company increased its summer sales by 7 percent compared with 2008, La Lettre de L’Expansion reported, without citing anyone. The company benefited from a recovery in demand at its cafes, hotels and restaurants, according to the weekly newsletter, which didn’t define the dates of the summer period. The shares advanced 0.8 percent to 59.35 euros.
Sanofi-Aventis SA (SAN FP): The drugmaker may increase its offer for Genzyme Corp. and is arranging more financing, the Wall Street Journal reported, citing unidentified people familiar with the matter. Sanofi approached both Citigroup Inc. and Bank of America Corp., the Journal said, citing the people. The shares rose 1.4 percent to 50.63 euros.
Soitec SA (SOI FP): The company, a supplier to the chip industry, said that its second-quarter sales will be close to stable excluding currency movements. In a statement on its Web site, the company said that it will offset a 2 percent drop in total wafer sales with revenue from other activities. Soitec repeated its target for first-half sequential sales growth of about 20 percent. The shares dropped 0.7 percent to 6.95 euros.
Vivendi SA (VIV FP): The owner of media and communications assets from SFR to Maroc Telecom said it sold a 7.66 percent stake in NBC Universal for $2 billion. As per a prior agreement, Vivendi will sell a further 12.34 percent of NBC for $3.8 billion, it said in an e-mailed statement.
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