By Gareth Gore
Feb. 16 (Bloomberg) -- France’s CAC 40 Index lost 27.15, or 0.9 percent, to 2,970.71 as of 9:33 a.m. in Paris, the second drop in three days. The SBF 120 Index retreated 0.9 percent.
The following shares rose or fell in Paris. Stock symbols are in parentheses.
Air Liquide SA (AI FP) rallied 1.46 euros, or 2.4 percent, to 61.65 euros, the highest in a month. The world’s biggest maker of industrial gases forecast sales and profit growth in 2009, buoyed by demand for gases used in healthcare and refining.
BNP Paribas SA (BNP FP) dropped 52 cents, or 2 percent, to 25.92 euros, the lowest in almost three weeks. JPMorgan Chase & Co. cut its price estimate on France’s biggest bank by market value by 53 percent to 28.00 euros in a note to clients today.
Latecoere SA (LAT FP) surged 8 cents, or 1.7 percent, to 4.90 euros, the most in two weeks. The French maker of doors and cabling for Airbus SAS and Boeing Co. planes predicted 2009 revenue will increase to about 530 million euros ($675 million) after 2008 sales advanced 16 percent.
Rexel SA (RXL FP) slid 12 cents, or 2.7 percent, to 4.35 euros, the lowest since it sold shares to the public in April 2007. The world’s largest distributor of electrical equipment plans to reduce staff numbers by 5 percent to 6 percent this year, Le Journal des Finances reported, citing an interview with Chairman Jean-Charles Pauze.
Societe Generale SA (GLE FP) tumbled for a third day, retreating 84 cents, or 3.2 percent, to 25.71 euros. JPMorgan cut its price estimate on the French lender by 32 percent to 38.00 euros in a note to clients today.
To contact the reporter on this story: Gareth Gore in Madrid ggore1@bloomberg.net
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