ArcelorMittal, Alstom, EADS, EDF, Sanofi: French Equity Preview
The following is a list of companies whose stocks may have unusual changes in Paris. Symbols are in parentheses after company names and prices are from the last close.
France’s CAC 40 Index rose 35.09, or 0.9 percent, to 3,892.44 yesterday. The SBF 120 Index also gained 0.9 percent.
Alstom SA (ALO FP): The French government said it will invest more than 300 million euros ($402 million) to modernize trains. The high-speed train maker’s shares rose 0.9 percent to 35.73 euros.
ArcelorMittal (MT NA): The steelmaker said Canada’s Commissioner of Competition has approved its offer to buy Baffinland Iron Mines Corp. and urged holders of Baffinland to tender their securities to its offer. The shares rallied 3.1 percent to 27.93 euros.
Assystem (ASY FP): The research and development services provider announced a nuclear-engineering joint venture with WS Atkins Plc. The shares rose 1.1 percent to 13.36 euros.
European Aerospace, Defense & Space Co. (EAD FP): Airbus SAS is hoping for orders for its A320 NEO plane in the hundreds from next year, French daily Les Echos reported, citing Chief Operating Officer John Leahy. EADS shares fell 0.3 percent to 17.92 euros.
Electricite de France SA (EDF FP): The company’s board will today approve a plan that will cut the company’s debt by 6 billion euros by transferring 50 percent of its RTE grid operator to a fund, Les Echos reported, citing unidentified people. The shares fell 0.4 percent to 31.83 euros.
Gifi (IGF FP): The discount retail chain said full-year net income rose to 39.5 million euros from 26.4 million euros. The shares fell 1.7 percent to 59.29 euros.
Orpea (ORP FP): The nursing-home operator said it raised 180 million euros from a convertible-bond issue. The shares gained 0.3 percent to 35.04 euros.
Rexel SA (RXL FP): The electrical-equipment distributor’s long-term credit rating was raised to BB- from B+ by Standard & Poor’s. The shares rose 0.7 percent to 16.11 euros.
Sanofi-Aventis SA (SAN FP): The drugmaker named Elias Zerhouni as head of research and development, replacing Marc Cluzel, who resigned. The shares lost 0.6 percent to 49 euros.
Suez Environnement (SEV FP): Europe’s second-largest water company was raised to “buy” from “hold” at Deutsche Bank AG. The shares climbed 1.1 percent to 14.88 euros.
Total SA (FP FP) Jefferies Group Inc. rated the oil company “buy” in new coverage and set a price estimate of 47 euros. The stock gained 1.3 percent to 39.77 euros.
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