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STOCKS NEWS EUROPE-Bourbon dips after tepid sales

Mon Nov 9, 2009 3:36am EST

Stocks

   

Shares of Bourbon (GPBN.PA) are down 2.5 percent, the biggest losers on France's broad SBF 120 index .SBF120, after the French oil services firm's tepid quarterly sales prompt investors to book recent lofty gains on the stock.

"The group posted a good performance in Offshore but sales remain dented by the bulk activity. Overall, sales fell short of our forecasts by 8.5 percent", a Paris-based trader says.

Despite Monday's dip, Bourbon is still up 74 percent so far this year, outpacing the DJ STOXX energy index .SXEP, up 21 percent over the same period.

For more on Bourbon's results, click on: [ID:nPnUKF013A]

Reuters Messaging rm://matthias.blamont.reuters.com@reuters.net


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