|Bid||0.0000 x 0|
|Ask||0.0000 x 0|
|Day's range||3.4400 - 3.5080|
|52-week range||3.1300 - 5.7500|
|Beta (5Y monthly)||0.70|
|PE ratio (TTM)||202.31|
|Forward dividend & yield||0.03 (0.84%)|
|Ex-dividend date||29 Jul 2021|
|1y target est||N/A|
(Reuters) -French train maker Alstom's shares had a rocky morning on Thursday, after its quarterly update on sales and orders sparked a mixed response from traders and financial analysts. The stock initially climbed over 3% before plummeting to trade down 5% and trigger an automatic dealing suspension on Euronext Paris, as investors sold off holdings built up during a strong rally at the turn of the year. Alstom reported higher sales and orders for October-December, its fiscal third quarter, fuelled by growth in Europe and bigger market clout thanks to its acquisition of Bombardier's rail unit a year ago.
French train maker Alstom plans to cut up to 1,300 of its roughly 10,000 jobs in Germany over the next three years as part of a restructuring after the purchase of Bombardier's rail unit, a spokesperson for the company said. Production of trains in Germany, where Alstom has its biggest workforce, is to be shrunk and partly moved abroad, the spokesperson said on Friday, confirming comments by labour union IG Metall. Alstom, which makes trains and signalling systems for urban and regional rail networks, said some plants in Germany were structurally underutilised and that it aimed to integrate production more closely into its European network.
Siemens has dropped part of a legal challenge against HS2 over a £2.8bn train building contract as it eyes other lucrative work on the new high-speed line.