US News Alstom is back on the CAC 40 index

14:30  21 september  2020
14:30  21 september  2020 Source:   latribune.fr

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  Alstom fait son retour sur l'indice CAC 40 © Supplied by La Tribune

Alstom is back on the Paris Stock Exchange on Monday, September 21. For the Scientific Council of Euronext Indices, which validates IPOs, since 2016, the industrial group specializing in transport engineering has shown strong growth in its market capitalization. Alstom thus takes the place of Accor which lost more than 7% Monday morning, just before leaving the CAC 40 index. The hotel group will indeed not have withstood the shock of the confinements decided in the world in the face of Covid-19 .

Alstom is back with arguments to reassure its investors. The manufacturer has just signed a contract with the Ile-de-France region for 255 RER trains, for a maximum amount of 3.7 billion euros. This new model scheduled for 2021 was developed and produced in consortium by Alstom and Bombardier, two rail giants who concluded their marriage on Wednesday by sealing an agreement on the financial terms of the transaction.

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This contract also secures the jobs of 2,000 people on the Alstom and Bombardier sites, particularly in the North, and in total more than 8,000 jobs in the French rail industry.

Further orders from Île-de-France Mobilités are expected for trains intended for the RER B and new metros.

In 2019/20, the company achieved a turnover of 8.2 billion euros and recorded orders of 9.9 billion euros.

Alstom, headquartered in France, is present in more than 60 countries and currently employs 38,900 people.

While mobility and infrastructure remain key despite the pandemic, the context remains uncertain. At 9:22 am, the CAC 40 index sank 76.63 points to 4,901.55 points.

At the end of the morning, Alstom could not resist the downtrend and lost 0.59%. The action traded at 45.15 euros.

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Iliad fell 1.57% to 166.35 euros after launching a takeover bid on Play, Polish mobile operator for "about 2.2 billion dollars 'euros for 100% of the capital, and 3.5 billion euros in enterprise value ".

Airbus sank 2.74% to 66.69 euros. The development of a carbon-free hydrogen aircraft constitutes a "priority strategic axis" of Airbus, which unveils three concepts in order to lead to an aircraft in service in 2035, indicated its executive chairman Guillaume Faury in an interview with Le Parisien.

Suez was in the green (+ 0.58%) at 14.73 euros, Veolia lost 1.47% to 18.49 euros and Engie 0.78% to 11.51 euros. The former boss of Engie and Suez, Gérard Mestrallet, is opposed to the "hostile" takeover offer from Veolia on the waste management specialist who must according to him "remain independent", in a stand at Le Figaro.

Ose Immunotherapeutics climbed 11.40% to 6.86 euros, rewarded with positive results of a first stage of phase 3 of the trial of Tedopi, therapeutic vaccine, in patients with lung cancer .

The banking sector, already feverish on Friday, was undermined by an international investigation by the International Consortium of Investigative Journalists (ICIJ) which shows that $ 2,000 billion in suspicious transactions passed through the major international banks from 1999 to 2017. Société Générale, Crédit Agricole and BNP Paribas each lost more than 2.50%.

(With AFP)

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