Air France, ArcelorMittal, EDF, Sperian: French Stocks Preview

By Laurence Frost

July 9 (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 fell 38.86, or 1.3 percent, to 3,009.71, the lowest since April 23. The gauge has slumped 11 percent from its high on June 1 amid speculation a three-month rally in equity prices has outpaced expectations for a recovery in the economy and earnings.

Air France-KLM Group (AF FP): Europe’s biggest carrier sees no sign of a recovery in traffic and may resort to temporary layoffs later in the year, Le Figaro said, citing Chief Executive Officer Pierre-Henri Gourgeon. The shares dropped 24.4 cents, or 2.8 percent, to 8.34 euros.

Air Liquide SA (AI FP): The world’s biggest maker of industrial gases purchased a 75 percent stake in Saudi Arabia- based Al Khafrah Industrial Gases. It didn’t give financial terms. The shares lost 61 cents, or 1 percent, to 62.54 euros.

ArcelorMittal (MT NA): The world’s biggest steelmaker said it’s in “advanced discussions” with lenders to change the leverage covenant for its main banking facilities for a year. The company said it doesn’t anticipate breaching the existing covenant. The shares dropped 1.07 euros, or 4.9 percent, to 21.01 euros.

Electricite de France SA (EDF FP): Europe’s biggest power producer may sell all or part of its RTE power-distribution network, La Tribune reported, citing an interview with Chief Executive Officer Pierre Gadonneix. The company also thinks it will receive the necessary approvals in the U.S. to buy 50 percent of Constellation Energy Group Inc.’s nuclear-power business “by the fall,” according to the newspaper. The shares gained 4.5 cents, or 0.2 percent, to 30.95 euros.

Kaufman & Broad SA (KOF FP): The real-estate developer swung to a loss of 27.5 million euros in the first half from a year-earlier profit of 11.7 million euros. The shares added 6 cents, or 0.5 percent, to 12.36 euros.

Maurel & Prom SA (MAU FP): The oil exploration company started buying back its 2010 exchangeable bonds for 22.80 euros each. The results of the buyback will be published on July 15. The shares fell 49 cents, or 4.4 percent, to 10.77 euros.

NRJ Group SA (NRG FP): The operator of French commercial radio station NRJ signed a licensing accord with Canadian broadcaster Astral Media Inc. The shares closed unchanged at 4.84 euros.

Sperian Protection SA (SPR FP): The company, which manufactures equipment designed to protect people in hazardous work environments, won a 25 million-euro order for respiratory masks from the French government. The shares declined 1.18 euros, or 3.2 percent, to 35.60 euros.

To contact the reporter on this story: Laurence Frost in Paris at lfrost4@bloomberg.net.