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French Stock Market Index May Drop PSA
PSA Peugeot Citroen risks being dropped from France's CAC 400 stock index in September, analysts tell Reuters.
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PSA Peugeot Citroen risks being dropped from France's CAC 400 stock index in September, analysts tell Reuters.
The carmaker's stock price has plunged about two-thirds over the past 12 months, thus shrinking its market capitalization to €2.4 billion. The news service estimates that PSA is now France's 77th-largest company.
A company's trading volume and market capitalization are the main criteria for inclusion in the index. But there are no specific thresholds, which gives some leeway to the committee that selects the component stocks of the CAC 40. That committee will meet next month.
Reuters says PSA could get a reprieve because of its restructuring plan due in mid-September and expected political opposition to dropping a French company from the index.
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