European Market News

Wednesday July 1, 07:34 AM
French and Benelux stocks - Factors to watch on July 1

PARIS, July 1 (Reuters) - Below is company-related news and leading stories from French and Benelux newspapers which could have an impact on the region's markets or individual stocks. SODEXO SA (Paris: FR0000121220 - news) The French contract catering and services group stuck to its fiscal full-year earnings targets on Wednesday when posting an 8.8 percent rise in sales in the first nine months of the year. ING The Dutch financial services group will combine its Dutch insurance brands, aiming for an annual income boost of 100 million euros ($141 million) from 2013 after a restructuring to include 800 job cuts. AREVA Areva (Paris: FR0004275832 - news) 's supervisory board approved plans to increase the nuclear reactor supplier's capital and sell one of its key businesses to bridge a $15.5 billion funding gap, the French state-controlled group said on Tuesday. Separately on Wednesday CEO Anne Lauvergeon told French RTL radio that the capital hike would allow Areva to strengthen strategic and industrial links it has with some groups around the world, including Mitsubishi (MBC.IL - news) . TOTAL A unit of the French oil company has signed a deal to supply an Indonesian power plant belonging to a district company in East Kalimantan province, an official at the regional company said on Wednesday. CARREFOUR The world's second-biggest retailer plans to make savings of 4.5 billion euros ($6.4 billion) by 2012 by cutting operating costs, improving purchasing terms and reducing inventory times to boost profits. SANOFI (Paris: FR0000120578 - news) -AVENTIS The French drugmaker is reshaping its research and development, shutting some of its sites, and still awaiting the U.S. health regulator's final verdict on experimental heart drug Multaq. PUBLICIS (Paris: FR0000130577 - news) The French advertising group has won a contract from U.S. drugmaker Bristol-Myers Squibb U.S. trade magazine Adweek said. ACCOR (Paris: FR0000120404 - news) The hotels and leisure group said it plans a voluntary departure plan for 230 staff at its headquarters, about 10 percent of the office workers there. KBC The board of the Belgian bank on Tuesday said it had decided to appoint Jan Vanhevel as chief executive officer from Sept. 1. UCB / BIOGEN IDEC INC (NASDAQ: BIIB - news) Belgian drugmaker UCB and U.S. biotech Biogen Idec said on Tuesday they would stop a mid-stage clinical trial of CDP323 as preliminary interim efficacy analysis showed patients enrolled did not benefit as expected. KPN The Dutch telecoms group said on Tuesday it had agreed to pay a one-year base salary to its Chief Financial Officer Marcel Smits, whose resignation will take effect on July 1. VIVALIS (Paris: FR0004056851 - news) The French biotech research group said it has signed a new agreement for the production of monoclonal antibodies and raised its licensing deal target for this year to 10 from seven. BENETEAU GROUP The boat maker said consolidated like-for-like third-quarter sales fell 28.5 percent to 272.3 million euro, after the global crisis caused the market to collapse by around half. CREDIT AGRICOLE (Paris: FR0000045072 - news) / NATIXIS (Paris: FR0000120685 - news) Credit Agricole said it finalised the acquisition of a 35 percent stake in CACEIS for 595 million euros, from Natixis, and now has a 85 percent stake with Natixis holding the rest. ICADE (Paris: FR0010308841 - news) The property developer said it is in exclusive negotiations with an SNI-led consortium for the sale of its housing division and added the sale was due before the end of H1 2010 for an amount of almost two billion euros. MEDIQ (Amsterdam: MEDIQ.AS - news) The Dutch pharmaceuticals group said that counterfeit insulin needles distributed in the Dutch market have been removed after a public recall and that it has tightened its procedures. FAIR OIL PRICE ACCORD / FRANCE, CANADA Canada may not embrace an expected proposal by French President Nicolas Sarkozy to work out a fair oil price accord at next week's G8 summit in Italy, Canadian Foreign Minister Lawrence Cannon said on Tuesday. ________________________________________________________ For a diary of top European results and forecasts For the Itraxx Europe CDS index see For blue-chip stocks news see For small- and mid-cap stocks news see For research on FTSEurofirst 300 companies _______________________________________________________ To view related displays double click on the following codes: Main stock markets: Dow Jones (news) ............... Wall Street report ..... Nikkei 225 (news) ............. Tokyo report............ FTSE 100............... 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