French and Benelux stocks-Factors to watch on Sept 27

Fri Sep 27, 2013 2:53am EDT

Below are company-related news and stories from French and Benelux media which could have an impact on the region's markets or individual stocks.

France's CAC 40 futures were trading up 0.13 percent at 0652 GMT.

VALLOUREC

French steel-tube maker Vallourec said a weak Brazilian real and reduction in demand for new oil and gas wells in Brazil could dent growth in revenue and EBITDA margin this year.

VEOLIA

Regional authorities on the French island of Corsica are seeking to claim 200 million euros from French waste and water group Veolia VIE.PA over subsidies to its ferry unit SNCM. The subsidies had been paid to SNCM but were deemed illegal by the European Commission, which ruled in May that monies paid to the company were state aid and have to be refunded.

FNAC

French books and music retailer Fnac plans to cut 180 jobs in its French music division as sales remain on a downward slope. The company, which employs 16,000 staff, said the music retail market had lost about 60 percent in value between 2006 and 2012. The job cuts will be in shops outside Paris.

EDF

France's plan to cap nuclear power output capacity means operator EDF must close its oldest plant, Fessenheim before it can get permission to bring online its next-generation reactor at Flamanville, a French official said.

AIR FRANCE

Struggling Italian carrier Alitalia will seek a capital increase of at least 100 million euros ($135 million), it said on Thursday after reporting another heavy loss for its first half. But its top shareholder Air France-KLM, which holds a 25 percent stake, voted against the capital hike proposal, a source close to the matter said. The Franco-Dutch group declined to comment.

VALEO

The Japanese division of car parts maker Valeo has made a deal with American judicial authorities in which it admits having taken part in anticompetitive activities and has accepted to pay a $13.6 million fine.

The statement: link.reuters.com/far43v

ARCELOR MITTAL

ArcelorMittal South Africa said on Friday it is in discussions with Kumba Iron Ore over a potential new supply agreement.

ALTRAN

French engineering consultancy Altran has acquired British Sentaca Communications Limited, a wireless telecommunications engineering firm that employs about 40 staff.

The statement: link.reuters.com/mar43v

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