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STOCKS NEWS EUROPE-Eurazeo sags as net asset value drops

Wed May 13, 2009 4:40am EDT

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Shares in French investment company Eurazeo (EURA.PA) slide by around 6 percent in mid-morning trade, after the group posts a fall in sales and net asset value.

Eurazeo says its net asset value per share has fallen to 44.2 euros at the end of the first quarter, from 53.4 euros per share at the end of 2008.

Eurazeo shares are down 5.9 percent at 29.99 euros, one of the main losers on France's SBF120 .SBF120 index of small and mid-cap stocks. Shares in rival investment group Wendel (MWDP.PA) dip 0.5 percent.

"Usually, one prices in a discount of 30 percent to an investment company's shares in relation to its net asset value, which is why the market has pushed down Eurazeo this morning," says a Paris-based fund manager. For more double click on [ID:nBw126642a]

Reuters Messaging rm://sudip.kargupta.reuters.com@reuters.net


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