French Stocks: Alten, Arcelor, Neopost Gain as Michelin Drops

By Alexis Xydias

Oct. 1 (Bloomberg) -- France's CAC 40 Index gained 24.83, or 0.6 percent, to 4,056.93 as of 1:18 p.m. in Paris. The SBF 120 Index rose 0.6 percent.

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

Alten SA (ATE FP) added 1.91 euros, or 9.4 percent, to 22.22, leading gains in the SBF 120. France's second-largest contract-technology research company reported first-half net income of 29.8 million euros ($42 million), up from 17.5 million euros a year earlier.

ArcelorMittal (MTP FP), the world's biggest steelmaker, climbed 86 cents, or 2.5 percent, to 36.01, adding to yesterday's 3.4 percent gain. Rautaruukki Oyj, Finland's biggest producer of carbon steel, raised its profit margin target.

Beneteau SA (BEN FP), the world's largest maker of sailboats, fell 52 cents, or 5.1 percent, to 9.63 euros, leading declines in the SBF 120. The company yesterday reported an increase in sales for 2008 and said some clients are holding back orders for 2009 amid slowing economic growth and a global financial crisis.

Michelin & Cie. (ML FP) decreased 2.55 euros, or 5.6 percent, to 42.91, headed for its steepest decline since July 18. The world's second-largest tiremaker will give a presentation on its earnings outlook today. PSA Peugeot Citroen (UG FP), Europe's second-largest carmaker, fell 91 cents, or 3.5 percent, to 25.46 euros after Peugeot brand chief Jean- Philippe Collin declined to reiterate its 5 percent growth target for full-year vehicle sales.

Daimler AG, the world's second-largest luxury car maker, said markets have worsened since it lowered the earnings outlook in July. Porsche SE, maker of the 911 sports car, said it's ready to scale back production as financial-market turmoil makes earnings forecasts ``difficult.''

Neopost SA (NEO FP) rose 98 cents, or 1.5 percent, to 67.33 euros, a second gain. Europe's biggest maker of mailroom equipment said first-half profit fell 6.8 percent to 74.3 million euros on a weaker dollar and declining U.S. demand.

To contact the reporter on this story: Alexis Xydias in London at axydias@bloomberg.net.