September 17, 2012 / 5:03 AM / 5 years ago

French and Benelux stocks-Factors to watch on Sept 17

Below are company-related news and stories from French and Benelux media which could have an impact on the region's markets or individual stocks.

CAC 40 futures are 0.40 percent lower at 0617 GMT

EADS

British defence group BAE Systems is prepared to ring-fence projects such as the Trident nuclear submarine programme to calm growing fears over the impact on security and employment of its planned merger with EADS.

EADS is prepared to offer Germany a veto right and job guarantees in a bid to gain political approval for a merger with Britain's BAE Systems BAES.L, Financial Times Germany said, citing industry sources.

France wants to remain a shareholder if EADS and BAE merge, French newspaper La Tribune reported, citing two unidentified sources close to the matter.

Merging Britain's BAE with EADS to create a global aerospace and defence giant would be a significant boost to European leaders' ambitions for a more efficient defence industry.

TOTAL

The French oil group expects to drill eight exploration wells in Uganda by end 2013, and will spend about $650 million on its activities in the same period, a senior company official said on Saturday.

EDF

The French power group denied it had requested compensation from the government over its decision to close the state-controlled energy company's Fessenheim nuclear power plant.

AREVA

The French nuclear reactor maker expects to benefit in the medium term from Japan's plans to restart nuclear reactors that were taken offline following the Fukushima nuclear disaster in 2011, Chief Executive Luc Oursel told Les Echos newspaper. Japan represented 8 percent of Areva's revenues prior to the disaster. "We should return to that level," Oursel was quoted as saying. By the 2030s, Japan plans to quit its reliance on nuclear power.

GMO CROPS

France is to maintain a temporary ban on the cultivation of genetically modified crops, Prime Minister Jean-Marc Ayrault said, dealing a blow to farmers and seed companies who say the move is unjustified and economically harmful.

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