Friday February 20, 07:49 AM
French and Benelux stocks - Factors to watch on Feb 20
PARIS, Feb 20 (Reuters) - Below are leading stories from French and Benelux newspapers and company-related news which could have an impact on the region's markets or individual stocks.
SAINT-GOBAIN
The world's biggest building materials supplier unveiled plans for a 1.5 billion euro rights issue and stepped up cost cutting efforts as a global downturn in its core housing construction and car markets hit its full-year profits.
Saint-Gobain's one existing share gives the right to one warrant, seven warrrants allow you to buy two new shares for 14 euros each. This means the value of the warrant at Thursday's close is two euros. With new shares at 14 euros and old shares at 28 euros, it indicates a 50 percent discount.
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LAFARGE (Paris: FR0000120537 - news)
Lafarge announced a 1.5 billion euro capital increase call as part of a 4.5 billion ($5.67 billion) plan to shore up its balance sheet as a downturn in construction hit the cement giant's 2008 profits.
Just hours after building materials group Saint-Gobain announced a surprise cash call, Lafarge unveiled a package of financial measures that included an expected rights issue, a slashed dividend, new cuts in cost and capital expenditure and divestments.
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CLUB MED (Paris: FR0000121568 - news)
* First quarter 2009 revenue up 1.9%, up 3.0% like-for-like
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WENDEL (Paris: FR0000121204 - news)
* Sales up 14.9 percent at 5.41 billion euros
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TELENET
The Belgian cable operator is set to report an 11 percent rise in 2008 core profit, in line with its own guidance, boosted by its purchase of four Flemish peers.
MEETIC European online dating company Meetic (Paris: FR0004063097 - news) will buy Match.com's European Operations from IAC. Match.com is to buy a 27 percent stake in Meetic under the deal.
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