French Stocks Rise, Led by Schneider, Societe Generale and BNP

French stocks advanced, led by Schneider Electric SA, Societe Generale SA and BNP Paribas SA.

The CAC 40 Index gained 45.54, or 0.8 percent, to 5606.75 at 10:21 a.m. in Paris. The SBF 120 Index rose 1 percent.

Schneider, the world's biggest maker of circuit breakers, added 3.39 euros, or 3.7 percent, to 94.61 euros. The company raised financial targets for a new business unit grouping MGE UPS Systems and U.S. acquisition American Power Conversion, citing higher demand and integration of acquisitions.

Societe Generale and BNP, respectively France's third- largest and biggest banks, climbed after U.S. stocks yesterday completed the largest two-day gain in five years, led by financial shares, on expectations of another interest-rate cut from the Federal Reserve.

``A rate cut would mean a much more favorable situation for bank stocks,'' Laurent Vallee, who helps manage about 5 billion euros ($7.4 billion) at Richelieu Finance in Paris, said in an interview.

Societe Generale rose 2.77 euros, or 2.7 percent, to 103.79 euros. BNP gained 1.62 euros, or 2.2 percent, to 76.05 euros.

The following stocks rose or fell in Paris. Symbols are in parentheses.

Eurofins Scientific SA (ERF FP), a French provider of food and drug tests, climbed 4.95 euros, or 7.2 percent, to 73.9 euros. Exane BNP Paribas raised its rating on Eurofins to ``outperform'' from ``neutral'' with its price target increased to 85 euros from 80 euros.
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