French Stocks Decline; Axa and Credit Agricole Retreat as Natixis Jumps

(Bloomberg) -- French stocks declined for a
third day in four. Financial companies including Axa SA and
Credit Agricole SA led the retreat.

The benchmark CAC 40 Index dropped 49.23, or 0.9
percent, to 5548.66 as of 10:05 a.m. in Paris, leaving the
measure little changed so far this year. The SBF 120 Index
fell 0.8 percent to 4051.79.


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French Utility Stocks Drop, Led by Suez; Michelin and France Telecom Gain

(Bloomberg) -- French utility stocks dropped, paced
by Suez SA and Veolia Environnement SA. Michelin & Cie. and
France Telecom SA gained.

The CAC 40 Index slid 9.20, or 0.2 percent, to 5634.76 at
9:11 a.m. in Paris. The SBF 120 Index fell 0.1 percent.


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Algeria says seen no suitable Gaz de France deal

(Reuters) - Algerian said its energy giant Sonatrach has not received any suitable proposal for an alliance with Gaz de France, floated as an alternative to the French utility's merger with rival Suez.

Sonatrach wanted a strategic partnership that could give it access to international reserves, energy and mines minister Chakib Khelil said in an interview to be published on August 1 in Paris-based industry magazine Petrole et Gaz Arabes.


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UPDATE 1-Sarkozy preens, ruffles feathers on African tour

(Reuters) - DAKAR, July 27 - Nicolas Sarkozy has tried to
break the cosy backroom diplomacy of Franco-African ties,
calling for more accountability and backing the trial of an
ex-Chadian dictator, but his lecturing tone has angered some.




On his first visit to sub-Saharan Africa since his election
in May, the French president set out his Africa policy at a
Dakar university on Thursday, acknowledging colonial ills and
calling for democracy, liberty, justice and law.


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Sarkozy Sees `Positive' Movement in Germany's Merkel's Views on the Euro

(Bloomberg) -- French President Nicolas Sarkozy
said German Chancellor Angela Merkel's views on the euro are
moving closer to his own position, which calls for greater
political influence in monetary policy, the government spokesman
said.

``For him, it's not about questioning the independence of
the central bank but showing that monetary policy is a topic of
debate and dialogue,'' Sarkozy told the weekly Cabinet meeting
today in Paris, according to the spokesman, Laurent Wauquiez.
``In that respect, Madame Merkel's position has evolved in a
positive way.''


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