Friday January 11, 09:47 AM
Paris shares TFN market data at 10.30 am; shares fall, hit by broker downgrades
PARIS (Thomson Financial) - Market data at 10.30 am:
Major indices:
CAC-40 down 19.63 points or 0.36 pct at 5,380.24
SBF-80 down 33.52 or 0.59 pct at 5,678.43
SBF-120 down 13.63 or 0.35 pct
at 3,858.52
21 CAC-40 stocks up
19 CAC-40 stocks down
Major gainers:
-Peugeot (Paris: FR0000121501 - news) , up 1.11 eur or 2.36 pct at 48.07. Lehman Brothers (NYSE: LEH - news) upgraded the carmaker to 'overweight' from 'equal-weight' and raised its price target to 73 pence from 67
-Alstom (Paris: FR0010220475 - news) , 3.29 or 2.70 pct higher at 125.12. Goldman Sachs (NYSE: GS - news) raised its stance on the stock to 'neutral' from 'sell', reflecting its belief the group has higher than average emerging market exposure and defensive earnings. The Financial Times also claimed this morning that Alstom is to announce a deal to sell 25 next generation AGV high-speed trains to Italian industrialists
-Areva (Paris: FR0004275832 - news) , up 16.01 or 2.23 pct at 735.01, recovering some of yesterday's heavy losses. In a research note this morning, Dexia (Brussels: DEXB.BR - news) analysts estimated that Areva could target over 20 bln eur of the UK nuclear reactor market
Major losers:
-L'Oreal (Paris: FR0000120321 - news) , down 4.46 or 4.87 pct at 87.04. ABN Amro (Amsterdam: AABA.AS - news) and Deutsche Bank (Xetra: 514000 - news) both downgraded the cosmetics group to 'sell' from 'hold'
-Clarins (Paris: FR0000130296 - news) , 1.63 or 3.08 pct lower at 51.37. Deutsche Bank also cut Clarins to 'sell' from 'hold' alongside L'Oreal
-Danone (Paris: FR0000120644 - news) , down 2.14 or 3.56 pct at 58.05. ABN Amro downgraded the food group to 'sell' from 'hold'
-STMicroelectronics (Paris: NL0000226223 - news) , down 0.19 or 2.24 pct at 8.30. Credit Suisse cut European semiconductor stocks to 'marketweight' from 'overweight' and lowered is stance on STMicro to 'neutral' from 'outperform'
-Klepierre (Paris: FR0000121964 - news) , down 1.56 or 4.80 pct at 30.97. Exane cut the property group to 'neutral' from 'outperform'
-Bic (Paris: FR0000120966 - news) , 1.54 or 3.57 pct lower at 41.61. Several analysts issued estimates today predicting the pen, lighter and razor maker's full year sales figures next Wednesday will show weak growth.
Most active stocks:
-Axa (Paris: FR0000120628 - news) , up 0.41 or 1.60 pct at 26.06. 3.86 mln shares traded
-Alcatel (Paris: FR0000130007 - news) -Lucent, up 0.07 or 1.56 pct at 4.56 with 3.54 mln shares traded
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