French Stocks: Audika, Credit Agricole, Lafarge, Peugeot Move
France’s CAC 40 Index dropped 0.3 percent to 3,892.71 at the 5:30 p.m. close in Paris, ending a three-day winning streak. The SBF 120 Index also lost 0.3 percent.
The following shares declined or advanced on the French equity market today.
Audika SA (ADI) jumped 5.9 percent to 18.84 euros, its biggest increase in almost two years. The maker of hearing equipment forecast sales will rebound to between 115 million euros ($163.3 million) and 120 million euros in 2011, after reporting a decline to 106 million euros for 2010.
“This growth should enable recurring operating income to be improved,” the company said in a statement released yesterday after markets closed.
Credit Agricole SA (ACA) rose 1.9 percent to 11.80 euros. Societe Generale (GLE) SA climbed 0.5 percent to 48.36 euros, its fourth straight advance. European finance ministers settled on how to enable a permanent rescue fund to lend 500 billion euros as of 2013, while remaining divided on how to get the current fund up to its full capacity of 440 billion euros.
Lafarge SA (LG) , the world’s biggest cement maker, declined 1.9 percent to 41.76 euros as a fire broke out in an Interior Ministry building in Cairo. The Egyptian army surrounded the Interior Ministry earlier today to prevent protesting policemen and civilian employees of the ministry asking for wage increases and other benefits from storming the complex. Egypt represented 4 percent of the French group’s revenue in 2010.
Michelin & Cie. (ML FP) fell 2 percent to 58.60 euros, paring gains from the previous two days. Rubber futures in Tokyo jumped for a fourth day as investors speculated that demand will exceed declining supplies during the low-production period, and as a producer group moved to boost prices.
Neopost SA (NEO) lost 1.6 percent to 62.80 euros. Europe’s biggest maker of mailroom equipment was cut to “sell” from “neutral” by analysts at Goldman Sachs Group Inc.
PSA Peugeot Citroen (UG FP) slumped 2.7 percent to 26.55 euros. Europe’s second-biggest carmaker said it will have to suspend some diesel-engine production due to a shortage of electronic components from Japan. Rival Renault SA (RNO) dropped 2.6 percent to 37.74 euros.
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