Carrefour, France Telecom, LVMH, Safran: French Equity Preview

By Ladka Bauerova

June 30 (Bloomberg) -- The following is a list of companies whose stocks may have unusual changes in Paris. Symbols are in parentheses and prices are from the last close.

France's CAC 40 Index slid 28.87, or 0.7 percent, to 4,397.32 on June 27. The broader SBF 120 Index decreased 0.8 percent to 3,190.89.

Carrefour SA (CA FP): Europe's biggest retailer was raised to ``neutral'' from ``underperform'' at Exane BNP Paribas after the shares tumbled 17 percent last week on a disappointing profit outlook. The shares lost 2.97 euros, or 7.8 percent, to 34.91 on June 27.

Electricite de France SA (EDF FP): Construction of EDF's nuclear reactor in Normandy, France, may be delayed by Greenpeace activists blocking the plant that supplies concrete to the site. Shares of Europe's biggest power producer rose 13 cents, or 0.2 percent, to 59.30 euros.

France Telecom SA (FTE FP): Europe's third-biggest telephone company ended its unsolicited bid to buy TeliaSonera AB for 244 billion kronor ($40.8 billion) after the Swedish company rejected the offer as too low. France Telecom shares declined 35 cents, or 2 percent, to 17.46 euros.

Groupe Eurotunnel SA (GET FP): Shareholders authorized the operator of the rail link between the U.K. and France to buy back stock. The plan follows a sale to existing shareholders in May. The rights offer raised 951 million euros to repurchase convertible bonds Eurotunnel sold as part of a program to rescue the company from insolvency last year. The stock advanced 14 cents, or 1.4 percent, to 10.09 euros.

LVMH Moet Hennessy Louis Vuitton SA (MC FP): France's commercial court will decide on June 30 whether EBay Inc., the world's biggest online auctioneer, must increase steps to stop the sale of counterfeit LVMH goods. Shares of the world's largest luxury-goods maker dropped 8 cents, or 0.1 percent, to 66.05 euros.

Safran SA (SAF FP) and Thales SA (HO FP): Thales, Europe's biggest defense-electronics manufacturer, would be interested in a merger with aircraft engine maker Safran, though there are obstacles, Journal des Finances reported June 28, citing Thales Chief Executive Officer Denis Ranque. Thales stock dropped 69 cents, or 1.9 percent, to 36.12 euros. Safran declined 7 cents, or 0.6 percent, to 12.38 euros.

To contact the reporter on this story: Ladka Bauerova in Paris at lbauerova@bloomberg.net.
Last Updated: June 30, 2008 02:38 EDT