Eiffage stock rises 13.13 percent on rumour

22nd March 2007, Comments 0 comments

PARIS, March 22, 2007 (AFP) - The price of shares in French civil engineering group Eiffage shot up 13.13 percent in early trading here on Thursday on rumoured interest from Spanish construction group Sacyr, market sources said.

PARIS, March 22, 2007 (AFP) - The price of shares in French civil engineering group Eiffage shot up 13.13 percent in early trading here on Thursday on rumoured interest from Spanish construction group Sacyr, market sources said.

Eiffage shares were being quoted at 96.39 euros in an overall market showing a gain of 1.24 percent as measured by the CAC 40 index.

A French broker commented: "There is a rumour that Sacyr is increasing its stake in Eiffage. The suggestion being that Sacyr would sell part of its holding in Repsol to increase its stake in Eiffage.

"The volume of trading (in Eiffage shares) is three times the volume of yesterday. The rumour seems to have taken hold."

The rumour was also circulating on the stock market in London.

Sacyr Vallehermoso said on November 15 that it had increased its holding in Spanish oil group Repsol to nearly 20 percent.

Two days earlier, the head of the Spanish construction company had ruled out any withdrawal from Eiffage to finance an increased holding in Repsol-YPF, saying that the two investments were independent.

Copyright AFP

Subject: French news

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