Axa, BNP, EDF, Societe Generale, Vinci: French Equity Preview

Shares in the following companies may have unusual moves in Paris trading. Stock symbols are in parentheses and prices are from the last close.

France’s CAC 40 Index fell 1.9 percent to 3,454.94. The broader SBF 120 Index dropped 2 percent to 2,624.67.

Axa SA (CS) : Europe’s second-largest insurer said first- half profit more than quadrupled to 4 billion euros ($5.7 billion) on gains from asset disposals in China, Australia and New Zealand. The shares lost 3 percent to 12.03 euros.

BNP Paribas (BNP) SA: The company plans to buy 60 percent of the brokerage unit of Cadiz Holdings Ltd., Les Echos reported, without saying where it got the information. The shares sank 1.9 percent to 41.81 euros.

Electricite de France SA (EDF FP): The utility was cut to “sell” from “hold” by Standard & Poor’s equity analysts. The shares fell 0.7 percent to 24.97 euros.

Societe Generale (GLE) SA: The bank was reduced to “hold” from “buy” at Independent Research GmbH. The shares plunged 9 percent to 29.59 euros.

Suez Environnement Co. (SEV) : The French company may seek to take control of Spain’s Aguas de Valencia and will monitor Madrid’s plans to sell a stake in its water company as it eyes buying more Spanish assets, Expansion reported. The shares rose 0.7 percent to 12.67 euros.

Vilmorin & Cie. (RIN) : The seed company said full-year revenue increased 12 percent to 1.19 billion euros and reaffirmed its operating margin target of 13 percent. The shares decreased 1.9 percent to 73.25 euros.

Veolia Environnement SA (VIE) : The world’s biggest water utility reported a first-half loss of 67.2 million euros, hurt by operations in Italy, Morocco and the U.S. The company said it would exit some countries and businesses and cut costs. The shares retreated 2.8 percent to 14.30 euros.

Vinci SA (DG) : The construction company’s venture with Qatari Diar won a 374 million-euro contract for a further works phase of a light rail transit system in Lusail, Qatar. The shares declined 1.7 percent to 37.53 euros.

To contact the reporters on this story: Gregory Viscusi in Paris at gviscusi@bloomberg.net; Sarah Jones in London at sjones35@bloomberg.net

To contact the editor responsible for this story: Andrew Rummer at arummer@bloomberg.net

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.