By Adria Cimino
Jan. 19 (Bloomberg) -- France’s CAC 40 Index advanced 38.73, or 1.3 percent, to 3,055.48 at 12:15 p.m. in Paris. The SBF 120 Index also climbed 1.2 percent.
Carmakers led gains in the index. Renault SA, France’s second-biggest automaker, rose 51 cents, or 3.1 percent, to 17.12 euros. Michelin & Cie., the world’s second-largest tiremaker, increased 81 cents, or 2.3 percent, to 36.42.
The French government could increase its stakes in carmakers as part of its efforts to support the industry, government spokesman Luc Chatel told Le Figaro in an interview. Nothing has been decided yet, Chatel told the newspaper.
The following shares rose or fell in Paris. Stock symbols are in parentheses.
Electricite de France SA (EDF FP) added 1 euro, or 2.7 percent, to 38.50. Europe’s biggest power producer may be picked to develop France’s second new-generation atomic plant, Le Journal du Dimanche said. President Nicolas Sarkozy may decide to grant GDF Suez SA the development of a third reactor later on, the newspaper said. Le Journal du Dimanche didn’t say how it obtained the information.
PPR SA (PP FP), the owner of the Gucci luxury-goods brand, slid 1.83 euros, or 4.3 percent, to 40.73 euros.
Cie. Financiere Richemont SA, the world’s largest jewelry maker, reported a drop in third-quarter sales that missed analysts’ estimates and said market conditions are the toughest in 20 years.
Pierre & Vacances (VAC FP) gained 1.10 euros, or 2.7 percent, to 42.60 euros. Europe’s largest resort operator may take advantage of the global economic slowdown to make acquisitions, Investir reported Jan. 17, citing Chief Executive Officer Gerard Bremond.
Vivendi SA (VIV FP), France’s biggest media company, jumped 80 cents, or 4 percent, to 20.92 euros. Maroc Telecom, a unit of Vivendi, said 2008 profit improved very significantly. The company said 2008 sales rose 7.2 percent.
To contact the reporter on this story: Adria Cimino in Paris at acimino1@bloomberg.net.
Posts
No comments:
Post a Comment