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STOCKS NEWS EUROPE-ADP sags after profit warning

Wed Jun 17, 2009 3:14am EDT

Stocks

   

Shares in Aeroports de Paris (ADP.PA) tumble 7.8 percent, the biggest losers on Europe's FTSEurofirst 300 .FTEU3 index, after the company lowers its 2009 EBITDA forecast, promting Societe Generale to downgrade its rating on the stock to "sell" from "hold".

"ADP's warning on traffic and profits should act as a negative catalyst," SocGen analysts write in note.

After 10 minutes of trading, the volume on ADP shares already represents 21 percent of the stock's 90-day average daily volume, compared with 4 percent for France's broad SBF 120 .SBF120 index.

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