By Adam Haigh
Feb. 19 (Bloomberg) -- France’s CAC 40 Index added 18.35, or 0.6 percent, to 2,892.42 at 9:36 a.m. in Paris, the first gain in four days. The SBF 120 Index gained 0.5 percent.
The following shares rose or fell in Paris. Stock symbols are in parentheses.
Axa SA (CS FP) lost 40.5 cents, or 3.6 percent, to 10.76 euros. Europe’s second-largest insurer reported a second-half loss for the first time in seven years and cut its dividend.
The net loss totaled 1.24 billion euros ($1.56 billion), compared with net income of 2.49 billion euros a year earlier. Axa cut its dividend 67 percent to 40 cents a share.
BNP Paribas SA (BNP FP) gained 64 cents, or 2.6 percent, to 25.26 euros. Chief Executive Officer Baudouin Prot said in an interview he was “confident” France’s largest bank will show “good performance” this year.
PPR SA (PP FP) added 1.62 euros, or 4 percent, to 42.5. The retail group reported a 5.4 percent increase in earnings before interest and taxes to 1.72 billion euros, meeting the 1.71 billion-euro median analyst estimate.
Schneider Electric SA (SU FP) added 2.275 euros, or 4.4 percent, to 54.39. The world’s biggest maker of circuit breakers reported net income for 2008 of 1.68 billion euros, in line with the average analyst estimate of 1.65 billion euros.
The company said it may extend cost cuts beyond those already announced on the likelihood that revenue will fall this year.
Societe Television Francaise 1 (TFI FP) tumbled 85.1 cents, or 11 percent, to 6.899 euros. The owner of France’s most-watched television channel said 2008 profit fell 28 percent as the economic slowdown cut advertising.
The company predicted a 9 percent decline in sales for 2009.
To contact the reporter on this story: Adam Haigh in London at ahaigh1@bloomberg.net
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