Business
Business

Areva shares plunge after it drops financial targets

Market Data - BBC News

Market Data

Share Prices

Markets

UK markets
UK markets % change Value
Change
-0.40%
7611.64
-30.81
-0.32%
20509.76
-65.35
Europe markets
Europe markets % change Value
Change
+0.05%
561.48
+0.29
-0.16%
5403.41
-8.91
0.00%
12358.87
+0.13
-0.01%
3409.44
-0.24
-0.25%
9507.00
-23.40
US markets
US markets % change Value
Change
+0.45%
25299.92
+112.22
+0.65%
7870.89
+51.19
+0.64%
2839.96
+18.03
Asia markets
Asia markets % change Value
Change
+0.55%
37852.00
+207.10
-0.66%
27752.93
-183.64
+2.28%
22356.08
+498.65
As of 20:41 14 Aug 2018

Currencies

GBP
% change One £ buys
Change
GBP against Euro
+0.20%
€1.1208
+0.0020
GBP against Yen
+0.08%
¥141.3950
+0.1200
GBP against USD
-0.41%
$1.2716
-0.0050
USD
% change One $ buys
Change
USD against Euro
+0.56%
€0.8814
+0.0050
USD against GBP
+0.35%
£0.7864
+0.0030
USD against Yen
+0.42%
¥111.1850
+0.4650
Euro
% change One € buys
Change
Euro against GBP
-0.20%
£0.8922
-0.0020
Euro against Yen
-0.12%
¥126.1450
-0.1500
Euro against USD
-0.57%
$1.1345
-0.0070
Yen
% change One ¥ buys
Change
Yen against Euro
+0.12%
€0.0080
0.0000
Yen against GBP
-0.08%
£0.0070
0.0000
Yen against USD
-0.42%
$0.0090
0.0000
As of 20:37 14 Aug 2018

Commodities

Oil
Commodity % change dollars per barrel
Change
Brent Crude Oil Futures
-0.52%
72.23
-0.38
WTI Crude Oil Futures
-0.70%
66.73
-0.47
Gold
Commodity % change dollars per ounce
Change
Gold (Forex Index am fix)
0.00%
1204.40
0.00
Gold (Forex Index pm fix)
-1.16%
1200.35
-14.05
Natural Gas
Commodity % change dollars per million BTU
Change
Natural Gas (Henry Hub Futures)
+0.82%
2.95
+0.02
As of 20:42 14 Aug 2018

Shares in Areva have plunged after the French nuclear firm suspended its financial targets for 2015 and 2016.

The firm blamed delays to its Finnish nuclear project, a slower than expected restart for its Japanese reactors after the 2011 nuclear accident in Fukushima and a "still lacklustre" nuclear market for the decision.

Areva said it was reviewing both its mid-term funding plan and future goals.

The shares were down 15.5% in morning trading.

However, Areva said both its revenue and profit forecasts for this year would not be affected.

Areva, which is 87%-owned by the French government, said it would present a new financial outlook for 2015-2017 by the time of its full-year results.

The firm's latest announcement follows a series of warnings in recent months. In August, it reported a €694m (£555m) loss for the first half of the year and said 2014 revenue would fall 10%, more than the 2-5% drop it originally forecast in February.

In October, it also announced capital spending cuts and new asset sales.

The firm has been hit by a drop in demand for nuclear power following the 2011 nuclear accident in Fukushima, which was triggered by a massive earthquake and tsunami, and the rise in the use of shale gas in the US.

Related Internet links

The BBC is not responsible for the content of external Internet sites