French Stocks: Cap Gemini, Schneider, Renault, Technip, Total
France’s CAC 40 Index gained 22.92, or 0.6 percent, to 3,738.10 at 12:27 p.m. in Paris, trimming this week’s loss to 1.2 percent. The SBF 120 Index increased 0.6 percent to 2,784.04 today.
The following shares rose or fell in the French capital. Stock symbols are in parentheses.
Aeroports de Paris (ADP FP) rose for a second day, gaining 1.1 percent to 60.51 euros. The operator of the French capital’s Charles de Gaulle and Orly airports had its price estimate lifted to 79 euros from 78 euros at Morgan Stanley.
Cap Gemini SA (CAP FP) Europe’s largest computer services provider, climbed the most in a month, rising 3.1 percent to 37.93 euros after U.S.-based Accenture Plc, the world’s second- largest technology-consulting firm, forecast sales for this quarter may top analysts’ estimates, as businesses boost spending.
CFAO SA (CFAO FP) rose 1.2 percent to 29.55 euros, paring 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. Also, Natixis Securities lifted its price estimate for the shares to 32 euros from 27 euros.
France Telecom SA (FTE FP) ended a four-day loss, gaining 1.1 percent to 16.02 euros. The telecommunications company said it bought 70 percent of submarine cable operator Elettra from Telecom Italia SpA. Separately, Natixis kept a “buy” rating on the stock, saying that “this transaction will enable France Telecom to acquire two supplementary cable ships, in addition to the four ships already operated by the group.”
Kaufman & Broad SA (KOF FP) advanced 3.6 percent to 19.93 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 profit rose to 2.3 million euros from 0.6 million euros a year earlier.
Renault SA (RNO FP) ended a two-day gain, falling 1 percent to 37.36 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 0.9 percent to 24.89 euros.
Schneider Electric SA (SU FP) gained 2.1 percent to 94.92 euros, rising for a second day. HSBC Holdings Plc added the world’s largest maker of low-voltage equipment to its “Europe Super Ten portfolio.”
Technip SA (TEC FP), Europe’s second-largest oilfield- services provider, gained 2 percent to 60.19 euros, the highest in almost five months. Oil rose for a third day, reaching the highest in seven weeks, after China’s manufacturing expanded, U.S. second-quarter gross domestic product beat economist estimates and unemployment claims fell more than expected. Total SA (FP FP) increased 2.4 percent to 38.7 euros, ending a two-day loss.
To contact the editor responsible for this story: David Merritt at email@example.com.