French Stocks: Air France-KLM, Air Liquide, Alstom, Essilor

By Adam Haigh

Oct. 23 (Bloomberg) -- France's CAC 40 Index dropped 7.03, or 0.2 percent, to 3,291.15 at 9:11 a.m. in Paris, retreating for a second day. The SBF 120 Index also lost 0.2 percent.

The following shares rose or fell in Paris. Symbols are in parentheses after company names and prices are from the last close.

Air France-KLM Group (AF FP) lost 49 cents, or 3.6 percent, to 13.12 euros. Europe's biggest airline sees no growth in the current financial year and in the coming two years, Les Echos reported, citing comments Chief Executive Officer Jean-Cyril Spinetta made at a workers council.

Air Liquide SA (AI FP) added 94 cents, or 1.6 percent, to 61 euros. The world's biggest maker of industrial gases said third-quarter sales rose 10 percent to 3.25 billion euros ($4.1 billion) on higher demand for hydrogen used to make cleaner gasoline. This beat analysts' estimates of 3.22 billion euros, according to a Bloomberg survey.

Alstom SA (ALO FP), the world's third-largest power plant maker, slumped 3.715 euros, or 9.6 percent, to 34.89. ABB Ltd. today joined Schneider Electric SA and Eaton Corp. in flagging signs the credit crisis has started to affect spending among manufacturers and utilities. ABB, the world's largest builder of electricity grids, reported third-quarter orders that missed analyst estimates.

Carbone Lorraine SA (CRL FP), the maker of electric motor parts, climbed 47 cents, or 2.1 percent, to 22.69 euros. The company reported a 2.9 percent increase in third-quarter revenue to 179 million euros as sales of electrical protection equipment jumped.

Essilor International SA (EF FP) rallied 1.33 euros, or 4.8 percent, to 29. The world's largest maker of eyeglass lenses said third-quarter revenue rose 4.7 percent to 757.6 million euros, lifted by acquisitions and higher sales of its products in Latin America and Europe. That beat the 755 million-euro average estimate of nine analysts polled by Bloomberg News.

Gemalto NV (GTO FP) added 51 cents, or 2.3 percent, to 23.17 euros. The world's biggest maker of smart cards said third-quarter sales rose 4.3 percent to 417.8 million euros on demand for payment and security cards.

Icade SA (ICAD FP) gained 78 cents, or 1.7 percent, to 46.88 euros after the property company controlled by state- owned Caisse des Depots et Consignations said revenue rose 13 percent to 1.15 billion euros in the first nine months after the company made acquisitions and won building contracts.

To contact the reporter on this story: Adam Haigh in London at ahaigh1@bloomberg.net.