European Market News

Wednesday June 3, 07:12 AM
French and Benelux stocks - Factors to watch on June 3

PARIS, June 3 (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. BOUYGUES Bouygues (Paris: FR0000120503 - news) posted a 55 percent fall in first-quarter operating profit, lagging analyst estimates, and cut its 2009 sales forecast to reflect a change in outlook for its TV channel and lower orders for its construction unit. The French construction-to-telecoms firm had an operating profit of 174 million euros ($247.3 million) in the three months to end-March, it said in a statement on Tuesday. HERMES The French luxury goods group Hermes confirmed its target for more or less stable 2009 sales at constant currencies and said the impact of the economic crisis on purchasing power was still a factor. Chief executive Patrick Thomas told shareholders at the annual general meeting that it would be an 'illusion' to think the group would be shielded from the effects of the crisis. EXONHIT ExonHit Therapeutics (Paris: FR0004054427 - news) has hired a investment bank to screen the market for takeovers in the area of diagnostics where the French biotechnology company aims to become a mid-sized player. In addition, ExonHit, which develops drugs and diagnostics tests, is hunting for partners for its two Alzheimer candidates -- one blood test that can diagnose the neurodegenerative ailment and one drug -- which are its most advanced products. '2009 is an important year, there will be many announcements,' Chairman Loic Maurel said at the Reuters biotech small- and mid-cap summit in Paris. VIVALIS (Paris: FR0004056851 - news) The biotechnology firm will beat its target of signing six to seven licensing deals this year and still expects to have more than 20 million euros in cash available at the end of 2009. Chief Executive Franck Grimaud told Reuters at a biotech small- and mid-cap summit Vivalis would sign two licensing deals this quarter, one in vaccines and one in proteins. This will take the number in the first half to 7 and the total number of licensing agreements to 27. PONCIN The yacht maker has found an agreement with its banks and is no longer under protection from its creditors. 'Banks have accepted to cancel half of our debt, on condition that the other half is paid back within 7 years,' Chief Financial Officer David Etien told Reuters on Tuesday. LAURENT PERRIER (Paris: FR0006864484 - news) Champagne group reported a 45 percent fall in annual net profit for 2008-2009. MAUREL & PROM Oil exploration group confirmed a $255 million reserve based loan. TOPS LIMITED Tops Limited says last day of trading of its shares on Euronext Amsterdam is expected to be 30 June 2009, with delisting becoming effective on 1 July 2009. Shares will continue to be listed on the London Stock Exchange (LSE: LSE.L - news) . For more, double click on ________________________________________________________ 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............... London report........... Xetra DAX............. European stocks stories. CAC-40................. AEX (Amsterdam: news) index............. World Indices....... Bel-20 index........... Bel-20 futures...... AEX futures......... French mid-smallcap .. Dutch midcap index.. AEX options......... Luxx index......... Dutch earnings poll.. French diary... Belgian/Luxembourg diary Dutch diary... European equity diary... ______________________________________________________ Reuters survey of world bourse outlook.......... Western European IPO diary........................... European Asset Allocation......................... Reuters News at a Glance (GLCE.PK - news) : Equities............... Main currency report:............................... FTSE Eurotop 300 index............................ DJ STOXX index.................................... Eurotop 300 sector gainers/losers............. Top 25 European pct gainers..................... Top 25 European pct losers...................... European Equities speed guide.................. Pan European indices...........................