French Stocks: Eutelsat, Seche Environnement, Technip, STMicro
France’s CAC 40 Index slipped 1.34, or less than 0.1 percent, to 3,833.5 at the 5:30 p.m. close in Paris, trimming its rally this month to 3.2 percent. The SBF 120 Index also declined less than 0.1 percent.
The following shares rose or fell in the French equity market today.
Bollore (BOL FP) gained for a second day, rising 1.8 percent to 161 euros. The provider of freight-forwarding services, plastic film, paper and cigarettes posted a 27 percent increase in third-quarter sales to 1.8 billion euros ($2.5 billion).
Eutelsat Communications (ETL FP) fell 1.7 percent to 26.99 euros, the lowest price since July 8, after reporting the loss of a satellite because of “an anomaly” detected on the propulsion subsystem.
Sanofi-Aventis SA (SAN FP) gained 1 percent to 50.18 euros. Total SA (FP FP) Chief Financial Officer Patrick de la Chevardiere said the oil company would be “open” to selling its entire stake in the French drugmaker if an offer came along at “a very good price.” Total isn’t in a hurry to sell, he added, speaking on a conference call with journalists.
Seche Environnement SA (SCHP FP) climbed 2.8 percent to 57.94 euros, advancing for a second day. The waste-management services company increased its full-year sales target to 400 million euros after recording third-quarter revenue of 104.2 million euros.
STMicroelectronics NV (STM FP) slipped 0.7 percent to 6.28 euros, halting a two day rally. Europe’s largest semiconductor maker had its price estimate trimmed to 7.80 euros from 8.40 euros at BofA Merrill Lynch Global Research to reflect “the recent weakening of the dollar relative to the euro.”
Technip SA (TEC FP) advanced for the first time in four days, rising 1.9 percent to 60.39 euros. Europe’s second-largest oilfield-services provider had its price estimate lifted to 77 euros at BofA Merrill Lynch, 71 euros at UBS AG, and 67 euros at Morgan Stanley.
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