Qualcomm Names Steve Mollenkopf CEO and President
Affine, Credit Agricole, Dalet, Rhodia: 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 climbed 0.5 percent to 3,885.08.
Affine (IML FP): The real-estate company acquired an office building in Lyon for 10.5 million euros ($13.8 million). The shares advanced 0.1 percent to 17.19 euros.
Credit Agricole SA (ACA FP): Moody’s Investors Service affirmed the bank’s long-term debt and deposit ratings at Aa1 and cut its financial strength rating to C+ from B-. The outlook on all these ratings is stable, Moody’s said. The shares fell 2.1 percent to 9.88 euros.
Dalet (DLT FP): The computer software company said it won an order from Canada’s Sette PostProduction. The shares declined 2.7 percent to 72 cents.
Rhodia SA (RHA FP): The specialty chemicals company agreed to buy PI Polymer, an engineering plastics business that has $13 million in annual sales. Rhodia said it paid about seven times fiscal 2011 earnings before interest, taxes depreciation and amortization for the business. Rhodia shares climbed 7.2 percent to 24.39 euros.
Safran SA (SAF FP): The maker of commercial jet engines was raised to “buy” from “hold” at Deutsche Bank AG. The shares dropped 0.3 percent to 26.92 euros.
Sanofi-Aventis SA (SAN FP): The drugmaker said it has bought a diabetes technology license from Ascendis Pharma. The shares advanced 0.5 percent to 48.90 euros.
Schneider Electric SA (SU FP): The company is preparing a bid for German family-owned company Sick AG, Challenges magazine reported on its website, without citing anyone. The shares climbed 0.7 percent to 116.20 euros.