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French and Benelux stocks-Factors to watch on March 28
March 28, 2013 / 5:46 AM / in 5 years

French and Benelux stocks-Factors to watch on March 28

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.

CAC40 futures are down 0.12 percent at 0758 GMT

TOTAL

The French oil major said on Thursday it would book a net loss of $1.65 billion in the first quarter to reflect the sale of its 49 percent stake in the Voyageur Upgrader project in Canada to Suncor Energy, which owns the remaining 51 percent, for $500 million.

VEOLIA

The utilities group has signed an agreement with Beijing Enterprises Water Group to sell its subsidiary Veolia Water in Portugal for 95 million euros ($121 million) and will use the proceeds to cut its debt in 2013.

MAUREL ET PROM

The oil group reported a drop in 2012 profits compared with the previous year, when it benefited from the disposal of several assets, and said it would aim to reinforce cash generation and reserves in 2013.

WENDEL

The French investment company on Thursday said net profit in 2012 halved from the previous year, hit by a write-down in the value of its stake in building materials maker Saint-Gobain .

SANOFI, SCHNEIDER ELECTRIC

The drugmaker has signed a deal with the French electrical engineering group to step up its energy efficiency programme at its industrial sites in 40 countries around the world. No financial details were given.

RENAULT-NISSAN

Political friction between China and Japan delayed by one year Nissan Motor Co’s plan to get 10 percent market share in China, Renault-Nissan Chief Executive Carlos Ghosn told Reuters Insider on the sidelines of the New York auto show on Wednesday.

LATECOERE

The French aerospace supplier reported 3.1 million euros in group net profit for 2012, a 53 percent drop year-on-year.

LAGARDERE

The head of the French media group’s magazines and radio division said in an interview with Le Figaro that the unit would continue to cut costs but would stop short of cutting jobs. It expects a 5 percent drop in ad revenues this year.

ARKEMA

A French commercial court on Wednesday opened bankruptcy proceedings for unprofitable chemicals-maker Kem One, which was spun off from France’s Arkema in July and which employs 1,300 people.

GUERBET

The French medical imaging specialist said that the U.S. Food and Drug Administration had approved Dotarem, a gadolinium-based contrast agent to be used intravenously for brain, spine and associated tissue scanning in adult and pediatric patients requiring checks for potential vascular abnormalities.

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