French Stocks Including Michelin Gain; Societe Generale and Dexia Decline

(Bloomberg) -- French stocks including Michelin &
Cie. rose while lenders such as Societe Generale SA and Dexia SA
declined.

The CAC 40 Index added 12.06, or 0.2 percent, to 5656.02 at
3 p.m. in Paris. The SBF 120 Index rose 0.2 percent. The CAC
sank 5.3 percent last week for its biggest weekly loss since the
five days ending March 28, 2003.


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French Stocks Including Michelin Gain; Suez and Societe Generale Decline

(Bloomberg) -- French stocks including Michelin &
Cie. and France Telecom SA rose while Suez SA and Societe
Generale SA fell.

The CAC 40 Index slipped 1, or less than 0.1 percent, to
5642.96 at 10:54 a.m. in Paris. The SBF 120 Index added 0.1
percent. The CAC sank 5.3 percent last week for its biggest
weekly loss since the five days ending March 28, 2003.


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UPDATE 4-India lifts Capgemini H1 profit but shares fall

(Reuters) - PARIS, July 27 - Computer consultancy Capgemini
said first-half operating profit rose 49 percent, buoyed by
Indian expansion, but the result barely met expectations and its
shares led losses on a nervy French stock market.




Europe's top IT consultancy set out plans to strengthen its
position as one of India's largest foreign IT players and
targeted improved operating margins for 2007 and 2008.


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Laurus shares surge on buyout talk: traders

(Reuters) - "Shares are up on takeover speculation. French Casino, which holds about half of Laurus, could delist it," said Kempen & Co. analyst Erwin Dut, adding that other firms looking to enter the Dutch retail market might also be interested.




Shares in Laurus earlier rose as much as 20.3 percent to 5.1 euros, its highest level since late 2004.


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UPDATE 1-LVMH offers olive branch to Les Echos journalists

(Reuters) - LONDON/PARIS, July 23 - French luxury group LVMH
on Monday sweetened its 240 million euro offer for business paper Les Echos with measures to
guarantee its editorial independence and jobs.




But the move was rejected by journalists at the French daily,
who voted overwhelmingly in favour of a rival 245 million euro
bid from Fimalac , owner of credit rating agency Fitch.


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EADS, GFI, Legrand, Remy Cointreau and Renault: French Equity Preview

(Bloomberg) -- The following stocks may rise or
fall on the Paris stock exchange. Symbols are in parentheses
after company names. Prices are from the last close.

French stocks fell for a second day, paced by Total SA,
Europe's largest oil refiner. Air France-KLM Group and Renault
SA also declined.


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Sarkozy Sees `Positive' Movement in Germany's Merkel's Views on the Euro

(Bloomberg) -- French President Nicolas Sarkozy
said German Chancellor Angela Merkel's views on the euro are
moving closer to his own position, which calls for greater
political influence in monetary policy, the government spokesman
said.

``For him, it's not about questioning the independence of
the central bank but showing that monetary policy is a topic of
debate and dialogue,'' Sarkozy told the weekly Cabinet meeting
today in Paris, according to the spokesman, Laurent Wauquiez.
``In that respect, Madame Merkel's position has evolved in a
positive way.''


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French Consumer Prices Rise 0.1 Percent in June From 0.3 Percent in May

(Bloomberg) -- French consumer prices barely rose
last month and the inflation rate held near the lowest level
since November 1999.

Consumer prices rose by 1.3 percent from a year earlier,
compared with 1.2 percent the previous month, based on European
Union-harmonized methods, Insee, the national statistics
bureau, reported today in Paris. From a month earlier, prices
gained 0.1 percent, less than the 0.3 percent in May.


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French Stock Index Drops; Alstom, PPR, Lafarge Shares Fall on the CAC 40

(Bloomberg) -- French stocks fell for a second day,
paced by Alstom SA, PPR and Lafarge SA.

The CAC 40 Index slipped 18.13, or 0.3 percent, to 6001.09
after earlier dropping as much as 1.4 percent. The SBF 120 Index
also retreated 0.3 percent.


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WRAPUP 1-France heads for clash with Eurogroup over deficit

(Reuters) - French President Nicolas Sarkozy was to present plans to
kick-start the French economy to finance ministers from the 13
countries using the euro and the European Central Bank at an
informal meeting on Monday evening .




All euro zone countries, including France, agreed in April
to balance their books by 2010. But Paris changed its mind after
Sarkozy became president in May, and now wants a two-year delay
to boost growth rates through various tax cuts.


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Germany says no final deal on EADS mgmt changes

(Reuters) - Over the weekend, media reports said French and German
shareholders in the company had reached a deal whereby current
co-Chief Executive Thomas Enders would become the sole CEO,
while the chairman and head of Airbus would be French
appointees.




The deal would be part of a simplification of the company's
management structure, which has maintained a delicate balance
between the French and Germans since EADS was created in 2000.


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French CAC Index Gains, Led by Shares of BNP Paribas, Sanofi-Aventis

(Bloomberg) -- French stocks rose, paced by BNP
Paribas SA and Sanofi-Aventis SA.

Gaz de France SA also advanced. Electricite de France SA,
Europe's biggest power generator, may buy gas assets from Suez SA
as part of Suez's merger with Gaz de France SA, Les Echos
reported, citing a source it didn't name.


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Ivorian entrepreneur sets sights on tropical wine

(Reuters) - A Italian-based vintner from Ivory Coast hopes to make the West African state's first wine if grapevine cuttings planted as an experiment in the tropical country's soil can produce fruit.

African countries with cooler, more Mediterranean climes such as South Africa, Morocco and Algeria are already renowned producers but Amani Yoboue, 44, aims to be the first to produce wine in this former French colony just north of the Equator.


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Dubai stake reflects EADS' positive outlook-Germany

(Reuters) - "EADS will remain a European company with a special
German-French responsibility," he added.




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U.K. Power Drops on Lower Natural Gas Prices, Cheaper French Electricity

(Bloomberg) -- U.K. power for delivery a day ahead
declined as the cost of natural gas and French electricity fell.

Day-ahead baseload power for delivery in the U.K. dropped
6.1 percent to 23 pounds ($46.36) a megawatt hour at 8:29 a.m.
in London, according to prices on Bloomberg from the energy
broker GFI Group Inc.


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European automakers face rating challenge: Moody's

(Reuters) - "Moody's believes global demand for passenger cars and light vehicles should grow by 2-3 percent per annum in the long term," Falk Frey, a Moody's senior vice president, said in a report. "However, the challenges for European manufacturers to participate in this trend are immense."




The credit ratings agency said the main driver of the credit quality of European automakers in the short-to-medium term will be their dependency on Western European markets where demand is set to remain flat, leading to a continued battle for market share. French and Italian producers in particular are highly exposed to Western Europe, it said.


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French Stocks Drop; Arcelor Mittal, Renault, BNP Paribas Lead the Slide

(Bloomberg) -- French stocks declined for a fourth
day, led by Arcelor Mittal, Renault SA and BNP Paribas SA.

The CAC 40 Index lost 50.81, or 0.9 percent, to 5952.04 at
10:45 a.m. in Paris. The SBF 120 Index dropped 0.8 percent.


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European Stocks Fall; Deutsche Bank, France Telecom, Anglo American Drop

(Bloomberg) -- European stocks declined for a third
day, led by financial shares and insurers, after the Bank for
International Settlements said central banks will need to keep
raising interest rates to quell inflation.

Deutsche Bank AG, Germany's largest bank, and insurer Axa SA
paced the drop. France Telecom SA fell the most in two weeks as
the French government is selling shares worth about 2.7 billion
euros ($3.6 billion). Anglo American Plc and Antofagasta Plc led
mining companies lower after Cazenove downgraded the stocks.


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Sarkozy toasts competition snip in treaty talks

(Reuters) - French President Nicolas Sarkozy celebrated success on Saturday in removing a reference to market competition from the objectives of a proposed new European Union treaty.

But other leaders said a mandate for negotiations for the new treaty, which included references to competition in other parts of the document, could actually bolster Europe's internal market, not weaken it.


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Al-Qaeda's Algerian Connection Raises Risks of Unrest Across North Africa

(Bloomberg) -- On April 11, three suicide truck
bombers hit in and around Algiers, killing 30 people. One bomb
blew up at the gates of Prime Minister Abdelaziz Belkhadem's
office, a French colonial palace on a hill.

The bombings were the work of Algeria's Salafist Group for
Preaching and Combat, an Islamic rebel group that has been
weakened by years of government crackdown. They may also be the
fruit of the recently formed alliance between the SGPC and al-
Qaeda, the global terror network headed by fugitive leader Osama
bin Laden.


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