Axa, Lafarge, PSA Peugeot, Risc, Wendel: French Stocks Preview

By Rudy Ruitenberg

Feb. 20 (Bloomberg) -- The following is a list of companies whose stocks may have unusual changes in Paris. Symbols are in parentheses after company names and prices are from the last close.

France’s CAC 40 Index slid 1.47 points, or less than 0.1 percent, to 2,872.60. The SBF 120 Index also dropped less than 0.1 percent.

Arkema SA (AKE FP): The chemicals maker won a long-term contract to supply hydrochlorofluorocarbon to Dyneon. It didn’t give financial details. The shares lost 7 cents, or 0.6 percent, to 10.97 euros.

Axa SA (CS FP): Europe’s second-largest insurer had its credit rating outlook revised to negative from stable by Standard & Poor’s, citing a possible drop in earnings at the group’s life insurance and asset management units. At the same time, S&P affirmed Axa’s AA financial strength and long-term counterparty credit ratings. The shares lost 1.02 euros, or 9.1 percent, to 10.15 euros.

Cesar SA (CSAR FP): The costume maker reported a first-half loss of 24.4 million euros, compared with a year-earlier profit of 3.82 million euros and forecast second-half earnings will be down from year-earlier levels. The shares fell 1 cent, or 2.3 percent, to 42 cents.

Lafarge SA (LG FP): The world’s biggest cement maker reports earnings before the market opens in Paris. The shares gained 17 cents, or 0.5 percent, to 36.82 euros.

Lisi SA (FII FP): The maker of bolts, rivets and clips for cars and airplanes reported a 17 percent drop in 2008 net income to 56.2 million euros and said visibility on 2009 earnings is “limited.” The shares fell 20 cents, or 0.8 percent, to 25.50 euros.

PSA Peugeot Citroen (UG FP): Europe’s second-largest carmaker’s long- and short-term credit ratings were cut to the lowest investment grade by Moody’s Investors Service, citing a decline in operating performance. The shares gained 25 cents, or 1.7 percent, to 14.59 euros.

Risc Group (RSC FP): The distributor of information technology products said first-half revenue rose to 39.8 million euros from 31.1 million euros a year earlier, and cut its full- year sales target to between 90 million and 94 million euros, from 108 million euros previously. The shares closed unchanged at 38 cents.

Suez Environnement SA (SEV FP): Europe’s second-biggest water company won two contracts for water treatment projects in Algeria worth a total 133 million euros. The shares rose 14.5 cents, or 1.2 percent, to 12.68 euros.

Wendel (MF FP): The investment business reports full-year revenue before the market opens in Paris. The shares added 80.5 cents, or 2.6 percent, to 31.95 euros.

To contact the reporter on this story: Rudy Ruitenberg in Paris at rruitenberg@bloomberg.net.