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French and Benelux stocks-Factors to watch on June 21
June 21, 2013 / 5:01 AM / 4 years ago

French and Benelux stocks-Factors to watch on June 21

PARIS, June 21 (Reuters) - 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.

CAC 40 futures are 0.6 percent higher at 0631 GMT

TECHNIP

The oil services group said on Friday it had secured a contract by BP Zhuhai Chemical, a joint venture between BP and Zhuhai Port, for a new purified terephthalic acid in China.

SANOFI

The drugmaker’s new bowel cancer treatment Zaltrap is not worth using on Britain’s state health service given its high price, the country’s healthcare cost watchdog said on Friday.

ALSTOM

Moody’s cut the power and transport engineering group’s rating to Baa3 on Friday saying Alstom has not been able to achieve the ratings agency’s expectations for debt reduction.

FNAC

Shares in books and music retailer Fnac closed down 13.6 percent on their market debut on Thursday as investors offloaded the stock they received from parent Kering.

SECHE ENVIRONNEMENT

Waste group Seche Environnement said on Thursday it is to exit the capital of Saur after making an unsuccessful offer to restructure the debt of its French peer.

CASINO

France has named Jean-Charles Naouri, the chief executive of French retailer Casino, as its special representative for economic relations with Brazil, the foreign ministry said on Thursday.

Claudio Galeazzi, the executive who oversaw a turnaround in Grupo Pão de Açucar SA, Brazil’s largest retailer, decided to step down as a board member as a rift between the company’s two biggest shareholders escalates.

Galeazzi said there was mounting pressure from the French retailer which is Pao de Acucar’s largest shareholder, to disclose the nature of his business relations with food processor BRF Brasil Foods SA, according to a letter obtained by Reuters.

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