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Shares in Fincantieri gain as STX deal seen closer
July 20, 2017 / 7:34 AM / 3 months ago

Shares in Fincantieri gain as STX deal seen closer

MILAN (Reuters) - Shares in Fincantieri rose on Thursday after French Economy Minister Bruno Le Maire said an accord with the Italian shipbuilder over STX France could be found soon.

The logo of STX is seen during a press conference at the STX Les Chantiers de l'Atlantique shipyard site in Saint-Nazaire, western France, western France, January 4, 2017. REUTERS/Stephane Mahe

French President Emmanuel Macron decided after his election in May to review the terms of a deal to sell a large stake in the STX France shipyard to Fincantieri.

Le Maire said late on Wednesday that a new solution over STX should be found in the coming days, also involving state-controlled Naval Group, and that Fincantieri’s investment would lay the foundation for a broader accord between the two countries in the shipbuilding industry.

By 0719 shares in Fincantieri rose 3.2 percent outperforming a 0.2 percent gain in Milan’s all-share index.

“We argue that the news on STX is positive,” broker Akros said in a note.

Reporting by Valentina Za

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