French Stocks Including Michelin Rise; Vallourec, Renault Fall

French stocks including Michelin & Cie. advanced. Vallourec SA declined.

The CAC 40 Index added 3.53, or 0.1 percent, to 5,635.16 at 9:09 a.m. in Paris, heading for a 1.5 percent drop this week. The SBF 120 Index also gained 0.1 percent today.

Michelin, the world's second-largest tiremaker, climbed 3.1 percent to 88.4 euros. Credit Suisse Group gave the shares an ``outperform'' recommendation in new coverage.

``Automotive suppliers have a historic opportunity to benefit from a rising tide of environmental legislation,'' the analysts wrote. ``Meeting Europe's CO2 challenge alone will provide a revenue opportunity of up to 15 billion euros ($22 billion) for suppliers of key efficiency technologies.''

Vallourec retreated 2 percent to 198 euros. UBS cut its share-price estimate on the maker of steel tubes to carry oil and gas by 11 percent to 210 euros, and lowered its recommendation on the stock to ``neutral'' from ``buy.''

The following shares rose or fell in Paris. Stock symbols are in parentheses.

Aeroports de Paris SA (ADP FP) gained 2.11 euros, or 2.7 percent, to 80.5. The operator of Paris's airports said third- quarter sales rose 14 percent to 614.1 million euros ($903.4 million) as airlines offered more flights to the French capital and the company raised landing fees.

Alstom SA (ALO FP) added 2.23 euros, or 1.5 percent, to 152.82. ING raised its share-price estimate on the world's third-largest power plant maker by 18 percent to 183 euros.

Beneteau SA (BEN FP) advanced 61 cents, or 3.2 percent, to 20 euros. The world's biggest sailboat maker said fiscal full- year profit rose 31 percent to 93.6 million euros. The company, which sees a ``favorable start'' to its fiscal 2008 year, said it will propose a dividend of 39 cents per share.

Renault SA (RNO FP) dropped 1.03 euros, or 1 percent, to 99.96. Shares of France's second-biggest carmaker were removed from Goldman, Sachs & Co.'s ``Conviction Buy'' list.
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