960404

French shares end

another year high

PARIS: French shares finished at another year high in active trading with gains underpinned by activity in Paribas and renewed interest in other financial stocks.

Investors ignored bond weakness and shrugged off worries about the release of key monthly U.S. jobs data on Friday when the Paris market is shut for four-day Easter holiday weekend.

CAC-40 index up 0.53 percent or 10.96 points at 2,074.96, and up 1.48 percent on the week.

CAC-40 April futures 2,078 vs 2,065 at Wednesday's close.

OF CAC-40 stocks, 26 higher, 13 lower, Carrefour unchanged.

Broader SBF 120 index up 5.86 points at 1,451.29.

Volume was 5.7 billion francs.

Paribas (+4.9/329.4) up after more than one million shares - 0.9 percent of its capital were traded in a block at 332 francs each, at 0858 GMT.

The interest in Paribas also helped its units, particularly Compagnie Bancaire (+36/549), Cetelem (+14/1,082) and Cardif (+35/860).

Credit Foncier (+4.95/62.95) higher after limit-up suspension at start following report U.S. investment group Templeton bought more of the troubled property lender's shares.

Lagardere Groupe (-7.4/128.2) lower after profits disappoint. It announced 1995 profits of 630 million francs vs 615 million for 1994. One analyst said the market consensus had been for a 1995 profit of around 800 million francs.

Eridania(-26/879) down. Stock hit by chairman's forecasts of a tough year ahead due to firm raw material prices and absence of signs of rebound in consumption. Shares also hurt by Montedison denial that it plans to sell or cut majority stake.

Sommer-Allibert (-166/1,455) slides after reports 44 percent slide in 1995 profit to 240.5 million francs. Analysts say 1996 outlook disappointing.

Sanofi (+16.0/392) up. Rose sharply in late afternoon trade following analysts' meeting. Sanofi, the pharmaceuticals unit of Elf, was recently the subject of talk strongly denied by all parties that it might merge with Rhone-Poulenc-Rorer.-Reuter