hr: Money

Photo Credit: lordsutch

CAC 40 Index of France increased by 38.38, or 0.8 percent, to 5,014.28 in Paris. This has a 0.4 percent extension of this month’s gain. There was also a 0.8 percent gain for the SBF 120 Index.

The results for France this week were varied, unlike Asian stocks that seemed to follow a uniform trend, some stocks gained while others declined:

• Air France-KLM Group (AF FP), which is Europe’s biggest airline, advanced 99 cents, or 6.1 percent, to 17.19 euros as crude oil declined extremely low in two weeks due to an overall reduction in fuel demand, which for the airline company, meant reduced fuel costs.
• Michelin SA. The much reduced crude oil prices has indeed redounded to the benefit of this company. The tiremaker, which needs oil to manufacture synthetic rubber, was able to gain an additional 50 cents, or 0.9 percent, to 57.50 euros.
• Total SA, the third-biggest European oil company, came down 36 cents, or 0.6 percent, versus 56.09 euros.
• Alcatel-Lucent SA (ALU FP), which supplies telecommunications equipment, gained 13 cents, or 2.8 percent, to 4.86 euros. It may be of interest to note that the company is gearing up to sue Microsoft Corp. for $419 million after Microsoft allegedly committed a patent violation as regards its Xbox video-game player.
• Carrefour SA (CA FP) surged high in seven days as it gained 68 cents, or 1.5 percent, to 45.07 euros. The company revealed plans of selling natural gas and electricity in Belgium.
• Electricite de France SA (EDF FP), which produces and supplies power, is on its third-week advance as it attained 1.58 euros, or 2.3 percent, to 69.58 euros. Analysts say that electricity rates in Europe will soon increase up to 10.
• Natixis SA (KN FP) advanced 19 cents, or 2 percent, to 9.78 euros. The bank said it might be forced to cut jobs about 850 out of 22,000. This statement came out because of huge financial losses the investment bank incurred due to writedowns on subprime-infected assets.

Renault SA (RNO FP) is on an eight-day high as it advances 2.00 euros, or 3.1 percent, to 66 euros. This car manufacturer will work, in a joint venture, with Suez SA’s Sita waste unit to recycle cars, by virtue of a European Union antitrust approval.