Stocks End Flat Before Holiday
April 26, 2011
The CAC 40 index of blue chip stocks shed 1.05 to 1979.52, while volume on the Paris Bourse totaled less than 2 billion French francs. On Tuesday, the CAC 40 added 2.4. A spate of flat first-half sales results released Wednesday and in prior days have caused traders to worry that some companies could report lower-than-expected earnings when half-year financial results are released in September and October. The gloom was offset by the franc's rebound, which had been under attack in recent days. Lyonnaise des Eaux fell 4 francs to 452.4 after reporting that first-half revenues rose 1.7% on a comparable structure and exchange rate basis. Generale des Eaux lost 17 francs to 500 on fears that it wouldn't greatly improve from last year's loss of 3.7 billion francs. Tobacco company Seita benefited from relatively good sales. Its share rose 5 francs to 219. Seita said first-half sales rose 4.8%. Media and defense holding company Lagardere gained 0.70 franc to 124 after reporting that second-quarter sales rose to 13.3 billion francs from 12.9 billion.
