French Stocks: Alten, BNP, Neopost, Peugeot, SocGen, Vallourec
The following shares rose or fell in the French capital. Stock symbols are in parentheses.
Alcatel-Lucent SA (ALU FP), France’s largest telecommunications equipment maker, lost 2.3 percent to 2.47 euros. Nomura Holdings Inc. reiterated its “reduce” rating, saying in a note that the stock has been “supported by upbeat comments from management and has outperformed the sector by about 15 percent this month, despite no tangible upgrades to expectations.”
Alten SA (ATE FP) gained 1.7 percent to 23 euros, erasing yesterday’s decline. The company confirmed its target for full- year like-for-like sales growth of above 5 percent as first-half profit jumped.
Net income in the first six months was 25.2 million euros ($34.2 million) compared with 0.2 million euros a year earlier, the technology consulting company said.
BNP Paribas SA (BNP FP) and Societe Generale SA (GLE FP), France’s biggest banks, lost 2.4 percent to 53.11 euros and 3.4 percent to 43.23 euros, respectively, as banking shares were the worst performers in Europe today.
Eurazeo SA (RF FP) rose 1.1 percent to 49.35 euros, a fourth consecutive increase. France’s largest publicly traded private equity firm completed the sale of its stake in B&B Hotels Group to the Carlyle Group.
Neopost SA (NEO FP) sank 1.5 percent to 54.65 euros. Europe’s biggest maker of mailroom equipment said first-half net income fell to 70.9 million euros from 74.8 million euros a year earlier.
PSA Peugeot Citroen (UG FP) dropped 1.6 percent to 24.62 euros, extending yeterday’s 2.4 percent loss. Peugeot “hosted unexciting management presentations yesterday on the side of the Paris motor-show,” BofA Merrill Lynch Global Research said in a note. “Nothing to support the shares’ 20 percent run into the event over the last month, in our view.” The brokerage kept an “underperform” rating, while lifting its price estimate to 22 euros from 21 euros.
Rougier SA (RGR FP) advanced 1.1 percent to 31.85 euros, a third straight gain. The French maker of building materials reported first-half net income of 600,000 euros, compared with a year-earlier loss of 12.8 million euros, and said it expects to post a full-year profit.
Vallourec SA (VK FP), a maker of steel pipes for the oil and gas industry, gained 1.7 percent to 74.61 euros as Goldman Sachs Group Inc. reiterated its “conviction buy” recommendation on the stock, citing long-term potential for growth.
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