French Stocks: BNP Paribas, Essilor, Natixis, Pernod Ricard

By Daniela Silberstein

July 17 (Bloomberg) -- France's CAC 40 Index rose 75.43, or 1.8 percent, to 4,187.88 at 9:55 a.m. in Paris. The SBF 120 Index increased 2 percent to 3,026.29.

The following shares climbed or fell in the local market. Stock symbols are in parentheses.

BNP Paribas SA (BNP FP), France's largest bank, rose 2.1 euros, or 3.8 percent, to 57.09. Banking shares rallied across Europe following U.S. financial stocks higher after higher-than- expected profit at Wells Fargo & Co. eased concern credit losses will stifle profit growth.

Societe Generale SA (GLE FP), the second-biggest French bank, climbed 2.5 euros, or 4.9 percent, to 53.5. Credit Agricole SA (ACA FP), the third-largest, surged 63 cents, or 5.2 percent, to 12.63 euros.

Bourse Direct (BSD FP) tumbled 19 cents, or 14 percent, to 1.17 euros, the steepest decline since January. The company, which offers discount securities brokerage services, said first- half sales fell 7.1 percent to 15.7 million euros ($24.9 million).

Groupe Danone SA (BN FP) increased 1.19 euros, or 2.8 percent, to 43.45. Sanford C. Bernstein & Co. raised its recommendation on shares of the world's biggest yogurt maker to ``outperform'' from ``underperform.''

Essilor International SA (EF FP) slumped 3.88 euros, or 11 percent, to 32, the sharpest retreat since September 11 2001. The world's largest maker of eyeglass lenses said second-quarter revenue rose 2.3 percent to 758.1 million euros on higher sales in emerging markets. That fell short of analysts' estimates.

Etam Developpement SA (TAM FP) declined 21 cents, or 1.2 percent, to 17.39 euros. France's largest publicly traded maker of women's lingerie said second-quarter sales dropped 4.9 percent to 223 million euros.

Gaz de France SA (GAZ FP) gained 38 cents, or 1 percent, to 40.23 euros. The group's shareholders, along with those of Suez SA (SZE FP), approved merging the two companies, paving the way for the creation of the world's second-largest utility. The French government issued a decree allowing Gaz de France's privatization, which will enable the utility to merge with Suez. Suez shares rose 49 cents, or 1.2 percent, to 41.85 euros.

Geci International SA (GECP FP) slipped 7 cents, or 2.5 percent, to 2.79 euros. The aerospace services company reported a full-year loss of 4.1 million euros compared with 3.61 million euros a year earlier.

MGI Digital Graphic Technology (ALMDG FP) advanced 27 centimes, or 3.9 percent, to 7.22 euros, the steepest advance in more than a month. The printer manufacturer reported a 20 percent rise in second-quarter revenue to 4.31 million euros and forecast full-year sales will be more than 20 percent higher than year-earlier levels.

Natixis SA (KN FP) surged 46 cents, or 9.6 percent, to 5.25 euros, the biggest gain in two months. France's fourth-largest bank said it plans to raise 3.7 billion euros in a rights offer to shore up capital after writedowns related to the U.S. subprime crisis.

Pernod Ricard SA (RI FP) increased 1.5 euros, or 2.8 percent, to 55.27. Dresdner Kleinwort raised its recommendation for shares of the world's second-largest liquor maker to ``buy'' from ``add.''

To contact the reporter on this story: Daniela Silberstein in Zurich at dsilberstei2@bloomberg.net.