May 26, 2016 / 6:01 AM / a year ago

French and Benelux stocks-Factors to watch on May 26

PARIS, May 26 (Reuters) - 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.

SANOFI

One day after recommending approval of a new diabetes drug made by Novo Nordisk A/S a U.S. advisory panel on Wednesday recommended approval of a similar product made by Sanofi SA.

The French drugmaker named eight candidates to replace the entire board of Medivation Inc, stepping up pressure on the U.S. cancer drug company which has rejected its $9.3 billion takeover approach.

EDF

Staff at France’s 19 nuclear plants have voted to go on strike on Thursday as part of the wider protests over the governments proposed reforms to employment laws, a CGT union official said, but no blackouts are expected.

French nuclear power capacity was cut by at least 4 gigawatts (GW) on Thursday after hardline CGT union workers joined a rolling nationwide strike against planned government reforms, grid operator RTE showed on its website.

Separately, French nuclear regulator ASN said anomalies found in the vessel of a nuclear reactor under construction in Flamanville have also been discovered in other French reactors being operated by utility EDF, but the country’s reactors are safe.

PHILIPS

Shares in the initial public offering of Philips’ PHG.AS Lighting division could price above 20 euros, people familiar with the matter said.

PEUGEOT

The French carmaker may raise its forecast for the size of the European car market this year when it publishes half-year results, Chief Executive Carlos Taveres said.

FONCIERE DE PARIS EUROSIC GECINA

Fonciere de Paris shareholder La Tricogne, with a 5.8 percent stake, will back Eurosic’s bid for the Paris property group instead of a rival offer from Gecina, Eurosic said.

LDC

France’s largest poultry processor forecast a slight fall in operating profit for its 2016/17 financial year, citing weak demand and the risk of higher grain costs.

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