"We categorically deny any interest in Umicore," said a spokesperson for Total.
Umicore's shares had briefly jumped up by as much as 9.5% after an FT Alphaville report of possible bid interest from Total, but the stock then lost ground.
Umicore shares were down 0.9% by 1350 GMT.
A Umicore spokesperson said the company had no comment to make on the market rumours.
(Reporting by Pawel Goraj and Bate Felix; Editing by Sudip Kar-Gupta)