French Stocks: BNP, Cap Gemini, Michelin, Renault, STM, Technip

Oct. 1 (Bloomberg) -- France’s CAC 40 Index fell 23.09, or 0.6 percent, to 3,692.09 at the 5:30 p.m. close in Paris, taking this week’s loss to 2.4 percent. The SBF 120 Index declined 0.5 percent to 2,751.39 today.

The following shares rose or fell in the French capital. Stock symbols are in parentheses.

Accor SA (AC FP) snapped a two-day gain, falling 1.4 percent to 26.4 euros. Europe’s largest hotel group had its credit ratings put on “watch negative” by Standard & Poor’s after the company decided to withdraw its planned sale of a stake in Groupe Lucien Barriere.

Arkema SA (AKE FP) surged to the highest since June 2008, rising 3.9 percent to 39 euros. Morgan Stanley initiated coverage of the chemical producer with an “overweight” rating.

BNP Paribas SA (BNP FP) retreated 1.2 percent to 51.56 euros as a gauge for European banking shares dropped for a fifth day. A statement issued after a meeting in Brussels on Oct. 1 said that finance ministers and central bank governors had “pointed out the risks related to the sovereign debt market that could have a contagious effect on the banking sector.”

Separately, Sanford C. Bernstein & Co. reiterated an “underperform” rating on BNP Paribas as it “is particularly exposed to three of the sector’s key controversies.”

Societe Generale SA (GLE FP) lost 2 percent to 41.4 euros, the lowest price since August.

Cap Gemini SA (CAP FP), Europe’s largest computer services provider, climbed the most in more than two months, rising 4.1 percent to 38.3 euros after Accenture Plc, the world’s second-biggest technology-consulting firm, forecast sales for this quarter may top analysts’ estimates.

CFAO SA (CFAO FP) rose 1.7 percent to 29.7 euros, erasing yesterday’s loss. The import group signed an accord with New Caledonia’s Pentecost to pool their respective interests in automobile distribution, civil engineering and mining equipment companies. CFAO will have 74 percent of the venture and Pentecost will have 26 percent. Natixis Securities lifted its price estimate for the shares to 32 euros from 27 euros.

Kaufman & Broad SA (KOF FP) advanced 4.2 percent to 20.05 euros, a fifth straight gain. The real-estate developer said it expects to return to profit in 2010 and forecast a sharp improvement in 2011 after third-quarter earnings rose to 2.3 million euros ($3.2 million) from 0.6 million euros a year earlier.

Lafarge SA (LG FP) retreated 1.6 percent to 41.35 euros, declining for a fourth day. HSBC Holdings Plc cut its price estimate on the world’s largest cement market to 55 euros from 75 euros.

Michelin & Cie. (ML FP) fell for a fourth day this week, losing 3.2 percent to 54.05 euros. UniCredit SpA and Exane BNP trimmed their price estimates for the world’s second-largest tiremaker by 9 percent to 65.5 euros and by 8 percent to 67 euros, respectively.

Renault SA (RNO FP) ended a two-day gain, falling 2.4 percent to 36.84 euros. Chief Executive Officer Carlos Ghosn said that 2010 will be a record year in terms of volume though not for revenue. He was speaking on BFM radio.

Separately, French new car sales fell 8.1 percent in September to 170,025 from year-earlier levels, national carmakers group CCFA said in an e-mailed statement today.

Renault’s French sales fell 16 percent, while PSA Peugeot Citroen (UG FP) saw a 3.8 percent decline, according to the CCFA statement. Peugeot rose 0.6 percent to 24.82 euros.

STMicroelectronics NV (STM FP) lost 1.9 percent to 5.51 euros, a fourth decline this week. Exane BNP Paribas downgraded Europe’s biggest chipmaker to “neutral” from “outperform.”

Technip SA (TEC FP), Europe’s second-largest oilfield-services provider, gained 1.7 percent to 60 euros, the highest in almost five months. Oil rose for a third day, reaching the highest in seven weeks, after China’s manufacturing expanded.

To contact the reporter on this story: Francesca Cinelli in Milan at fcinelli@bloomberg.net.

To contact the editor responsible for this story: David Merritt at dmerritt1@bloomberg.net.