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FRANCE DAYBOOK: Air France-KLM May Face Clash Over Payout Plan

May 31 (Bloomberg) -- Air France-KLM Group may face opposition to a 400,000-euro ($496,000) severance payout to former chief Pierre-Henri Gourgeon at its annual shareholder meeting after board members criticized the settlement.


WHAT TO WATCH: -- Air France-KLM holds its annual shareholder meeting at 2:30 p.m. The French government has said it will vote against a payout to former CEO Pierre-Henri Gourgeon.

EARNINGS: -- Neopost (NEO FP) 5:30 p.m., 1Q rev EU249 mln

ECONOMY: -- 8:45 a.m.: Producer Prices (M/M), est. 0.2% (prior: 0.5%) -- 8:45 a.m.: Producer Prices (Y/Y), est. 2.9% (prior: 3.7%) -- 8:45 a.m.: Consumer Spending (M/M), est. 0.3% (prior: -2.9%) -- 8:45 a.m.: Consumer Spending (Y/Y), est. 0 (prior: -2%)


EQUITY PREVIEW: -- Carrefour (CA FP): The retail group said it would propose a dividend of 0.52 euros per share, with investors to vote on the proposal on June 18. The shares fell 2.5 percent to 14.12 euros.

-- Fiducial Real Estate (ORIA FP): The investment company said first-half net income was 7.6 million euros, up from 6 million euros a year earlier. The company forecast revenue of more than 50 million euros this year. The shares fell 2.1 percent to 69.50 euros.

-- Fimalac (FIM FP): The financial-services group said first-half earnings were 104.5 million euros, up from 23.1 million euros a year earlier. The figure includes a profit of 85.8 million euros on the sale of Algorithmics by Fitch Group. The shares fell by almost 1 percent to 30.60 euros.

-- France Telecom (FTE FP): The telecommunications group said its subsidiary MT Telecom completed its tender offer for Egyptian mobile operator Mobinil, increasing its ownership stake to 92.92 percent. The shares fell 0.9 percent to 10.2 euros.

-- Latecoere (LAT FP): The manufacturer of aircraft components said it would open a factory in Hermosillo, Mexico, with production to begin during the second half of this year. The shares fell 1.3 percent to 9.18 euros.

-- LVL Medical Groupe (LVL FP): The supplier of medical equipment for home treatment reported first-half net income of 5.6 million euros, down from 6.7 million euros a year earlier, on revenue of 87.7 million euros, up from 83.5 million euros. The shares rose 7.8 percent to 16.89 euros.

-- Vinci (DG FP): The construction and engineering group said it is the preferred bidder for a contract worth about 900 million euros to upgrade and maintain roads on the Isle of Wight for 25 ½ years. The shares fell 3.4 percent to 32.71 euros.

MARKETS: -- CAC 40 down 2.2% at 3,015.58 -- SBF 120 down 2.2% at 2,325.73 -- MSCI AP Index: -1.15%; industry gainers/decliners MXAP <Index> GRR1 <GO> -- S&P 500 close: -1.43% SPX <Index> HCP <GO>; GRR1 <GO> for industry gainers/laggards; Futures WEIF <GO> -- NY crude futures: -0.23% CL1 <Cmdty> HCP <GO> -- London gold: -0.09% GOLDS <Cmdty> HCP <GO> -- EUR/USD: 1.2372

To contact the reporters on this story: Jacqueline Simmons in Paris at; Carol Matlack in Paris at

To contact the editor responsible for this story: Chris Peterson at

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