Natixis sees little impact from IKB problems

(Reuters) - By Sudip Kar-Gupta



PARIS, Aug 6 - French bank Natixis said on Monday that current problems in the U.S. subprime mortgage sector would have a limited impact on the group, whose shares have slumped on fears over its subprime exposure.


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IKB subprime shockwaves continue to rock Germany

(Reuters) - German commercial property financier Hypo Real Estate struggled to calm jittery investors by insisting it would be unaffected by the U.S. subprime fallout. Its shares still skidded more than 5 percent while Commerzbank -- which owns a property financier -- saw its stock fall 4 percent.




Investor confidence was further dented as it emerged that French insurer Axa had also temporarily closed two subprime funds after sudden losses.


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Strauss-Kahn to make lobbying trip on IMF candidacy

(Reuters) - Dominique Strauss-Kahn, the French candidate to head the International Monetary Fund, said on Tuesday he would tour key world capitals in the North and South to convince IMF members of his merits.

European Union countries have said they support Strauss-Kahn's candidature to head the body, but many countries in the developing world question the tradition that a European heads the IMF and an American leads the World Bank.


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Niger hopes for oil riches under northern desert

(Reuters) - Niger plans to award oil exploration permits by the end of next month for a vast block under the Sahara desert it hopes will turn it into Africa's newest crude producer.

The landlocked former French colony is one of the poorest states on earth but is sandwiched between oil producers Nigeria to the south and Libya and Algeria to the north. This has raised expectations among its population for a future oil bonanza.


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Refco's Banker Elsner Moves From Cote d'Azur to Vienna Jail on Bawag Loss

(Bloomberg) -- Helmut Elsner didn't hesitate to bend
the rules.

Rushing to get to a ski race, the future chief executive
officer of Austria's Bawag P.S.K. Bank once sped past dozens of
cars backed up on a road in the Tyrolean Alps, then told police
he was a translator for the French team. After discovering he
hadn't been invited to a prestigious golf tournament, Elsner
gained entry by calling up organizers and offering to sponsor a
reception.


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Sarkozy mulls Brazil visit to back IMF bid

(Reuters) - French President Nicolas Sarkozy may travel to Brazil to try to drum up support for his nominee for IMF chief, Dominique Strauss-Kahn, after emerging countries questioned Europe's monopoly of the top job.

"With Dominique Strauss-Kahn we may go to Brazil to support his candidacy," Sarkozy said on the sidelines of the annual garden party on Bastille Day at the presidential Elysee palace.


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Sarkozy May Clash With EU, Trichet Over Plans to Revive France's Economy

(Bloomberg) -- French President Nicolas Sarkozy has
a message for European finance ministers and central bankers
criticizing his plans to revive France's economy: Back off.

Sarkozy, 52, heads to Brussels today to meet officials from
the 12 other nations that share the euro. At the meeting, he
will defend his plan to cut taxes even though they may cause the
budget deficit to exceed government forecasts in 2008.


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EDF CEO says markets expect French stake sale

(Reuters) - Asked if there was a deadline, he answered: "No, there is
absolutely no deadline."




Gadonneix declined to comment directly on the possibility that
EDF could merge with another French utility group.


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Danone rises on talk it may sell biscuit unit

(Reuters) - PARIS, July 2 - Shares in Danone rose as much as 3.1 percent on Monday as a source familiar with the matter and media reports said the French food group is looking to sell its biscuit unit to focus on its yoghurts and drinks.



Over the weekend, a trade union source told Reuters Danone's biscuit unit management and trade union representatives would meet on Tuesday to discuss possible changes at LU biscuits, sparking speculation over the division's future.


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Morocco launches Maroc Telecom share sale

(Reuters) - Morocco's government is putting up for sale a 4 percent stake in telecoms operator Maroc Telecom with a share offer to local and foreign institutional investors, the Finance Ministry said on Wednesday.

Morocco's state owns 34 percent of the company, with French media and telecoms group Vivendi holding 51 percent and the remaining 15 percent traded on the Paris and Casablanca bourses.


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Sarkozy Says European Carbon Emissions Limits Should Apply to Airlines

(Bloomberg) -- French President Nicolas Sarkozy
said airlines should be subject to limits on carbon emissions to
help combat global warming.

Sarkozy, speaking at an event in Paris today, said proposed
European Union limits must be applied to all airlines, not just
European carriers.


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UPDATE 1-Trelleborg says cartel probe to hit earnings

(Reuters) - Trelleborg said on Tuesday its legal advisors had estimated
the cartel investigations at two subsidiaries in Europe and the
United States might lead to "significant costs of a nonrecurring
nature in gradual stages during 2007 and 2008".




The firm said last month its French subsidiary was one of
several companies being investigated by the U.S. Department of
Justice and EU authorities in connection with an alleged cartel
involving certain types of marine hoses.


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France Sells France Telecom Shares at Low End of Price Range to Cut Debt

(Bloomberg) -- The French government sold a 5
percent stake in France Telecom SA for about 2.65 billion
euros ($3.57 billion), the bottom of the price range sought
by the state. The stock fell as much as 3.5 percent.

All the proceeds will be used to repay debt,
Finance Minister Christine Lagarde said late yesterday in
announcing the sale. The state will hold about 27 percent
of the former monopoly after the sale.


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European Stocks Decline; France Telecom, Anglo American, GDF Lead Slide

(Bloomberg) -- European stocks declined for a third
day, led by financial shares and utilities, 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 French utility
Gaz de France SA paced the drop. France Telecom SA fell the most
in two weeks as the French government began selling shares worth
as much as 3.8 billion euros ($5.1 billion). Anglo American Plc
and Antofagasta Plc led mining companies lower after Cazenove
downgraded the stocks.


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European Stocks May Decline; Shares of Barclays, Credit Suisse Might Fall

(Bloomberg) -- European stocks may retreat after
U.S. and Asian equities fell. Barclays Plc and Credit Suisse
Group may drop after their U.S.-traded securities declined.

France Telecom SA may be active as the French government
sells as much as 3.8 billion euros ($5.1 billion) of the nation's
largest phone company. Shares of Cumerio NV, owner of the biggest
copper smelter in southeastern Europe, may be active after
Germany's Norddeutsche Affinerie AG agreed to buy the company.


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Emission Permits Increase on Likely Demand From Norway; Power Also Gains

(Bloomberg) -- European Union emission permits rose
from their lowest in a month on speculation demand from Norway
will boost prices across the bloc, according to an analyst at the
investment-banking unit of Dresdner Bank AG. French power gained.

Permits for delivery in December 2008 rose 56 cents, or 2.6
percent, to 21.75 euros ($29) a metric ton on the European
Climate Exchange in Amsterdam at 1:52 p.m. local time. They sank
as low as 20.60 euros yesterday, the lowest price for the
benchmark permits since May 15.


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French Stocks Advance, Paced By Total, Arcelor Mittal, Michelin, Areva

(Bloomberg) -- French stocks advanced, led by Total
SA, Arcelor Mittal and Electricite de France SA.

Shares of Michelin & Cie., the world's second-largest
tiremaker, gained as rubber futures tumbled.


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French Stocks Including Carrefour, Air France Decline While Renault Rises

(Bloomberg) -- French stocks including Carrefour SA
and Air France-KLM Group declined while Renault SA advanced.

The CAC 40 Index slid 10.17, or less than 0.2 percent, to
6076.98 at 2:39 p.m. The SBF 120 Index slipped 0.2 percent.


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AIRSHOW-EADS seeks to prove itself as a "normal company"

(Reuters) - The call from French and German executives came on the eve
of the Paris Air Show, where French President Nicolas Sarkozy is
expected to set out his vision for European aerospace amid
doubts over the future of a sensitive EADS shareholder pact.




EADS has been plagued by disagreements between French and
German shareholders, politicians and staff over output delays at
Airbus, which contributed to 10,000 job cuts and slowed down
Europe's largest industrial project, the A380 superjumbo.


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