French Stocks: Arkema, Carrefour, Essilor, Sanofi Are Active
The following shares rose or fell in Paris. Stock symbols are in parentheses.
Arkema SA (AKE) climbed 8 percent to 57.78 euros, a fourth straight gain. The company said that it will meet its 2015 objectives. Arkema reported 2010 net income of 347 million euros ($477 million), beating the average analyst estimate for profit of 313 million euros.
Bouygues SA (EN) advanced 3 percent to 34.21 euros, the biggest gain since Jan. 18. Chief Executive Officer Martin Bouygues said the company is marginally hurt by the Middle East turmoil because the construction of a metro line in Cairo is temporarily halted. Bouygues has no operations in Tunisia nor in Libya, the company said at a press conference in Paris.
Carrefour SA (CA) slid 3.9 percent to 33.61 euros, the biggest decline since Dec. 1. The company’s plans to spin off 100 percent of its Dia discount chain and 25 percent of its real-estate unit may not achieve the company’s aim of boosting value for shareholders, some analysts said. Fitch Ratings placed Carrefour on rating watch negative.
Essilor International SA (EI FP) slid 3 percent to 51.08 euros, the biggest drop since May. Essilor said it’s targeting sales growth of 6 percent to 8 percent in 2011. The stock was cut to “underperform” from “outperform” at Cheuvreux SA.
Ipsen SA (IPN) lost 1.7 percent to 24.35 euros, ending three days of gains. The company said 2010 net income declined 39 percent to 95.3 million euros.
Sanofi-Aventis SA (SAN) advanced 1 percent to 51.07 euros, a fifth straight advance. UBS AG raised its recommendation on the shares of France’s biggest drugmaker to “buy” from “neutral.”
STMicroelectronics NV (STM) , Europe’s biggest chipmaker, gained 1.6 percent to 9.41 euros. JPMorgan Chase & Co. raised its recommendation on the semiconductor industry to “constructive” from “cautious.”
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