French Stocks: Alstom, Legrand, M6, Natixis, Schneider Electric

By Adria Cimino

July 21 (Bloomberg) -- France's CAC 40 Index declined 26.99, or 0.6 percent, to 4,272.37 at 9:09 a.m. in Paris, after climbing 4.9 percent last week. The SBF 120 Index also lost 0.6 percent.

The following stocks rose or fell in Paris. Stock symbols are in parentheses.

Alstom SA (ALO FP) added 88 cents, or 1.2 percent, to 72.51 euros, extending last week's 12 percent gain. Deutsche bank raised its recommendation on shares of the world's third-largest power plant maker to ``buy'' from ``hold.''

Jeanjean SA (JEAN FP) climbed 21 cents, or 1.5 percent, to 14 euros, the highest level in two weeks. The bottler and distributor of wines to supermarkets and restaurants said second-quarter sales rose 18 percent to 45.9 million euros ($72.8 million). Sales at its Bordeaux unit may be ``close to'' 20 million for the full year, more than the 15 million euros forecast, the company also said.

Legrand SA (LR FP) sank 1.01 euros, or 6.1 percent, to 15.44, after rising 15 percent last week. Deutsche Bank cut its recommendation on the world's largest maker of electrical switches and plugs to ``sell'' from ``hold.''

M6-Metropole Television SA (MMT FP) retreated 14 cents, or 1 percent, to 14.38 euros after gaining for the past three trading sessions. Societe Generale cut its recommendation on shares of France's second-largest commercial television company to ``hold'' from ``buy.''

Les Nouveaux Constructeurs SA (LNC FP) jumped 16 cents, or 5.2 percent, to 3.26 euros after sliding 10 percent last week. The French real-estate developer said Premier Investissement, its majority shareholder, has boosted its share to 73.77 percent of the capital and 83.53 percent of voting rights.

Natixis SA (KN FP) slipped 12 cents, or 2.1 percent, to 5.65 euros after gaining the past two trading sessions. The French bank that plans to increase capital by 3.7 billion euros had its debt rating and financial-strength outlook reduced by Moody's Investors Service.

Schneider Electric SA (SU FP), the world's biggest maker of circuit breakers, added 1.20 euros, or 1.8 percent, to 69.21, rising for a fourth day. The company is ``confident'' it will reach its 2008 profit targets, La Tribune reported, citing Eric Pilaud, the company's head of strategy.

To contact the reporter on this story: Adria Cimino in Paris at acimino1@bloomberg.net.