Shares in French utility Veolia Environnement rise 7.6 percent, bouncing back after a one-month slide, as the group says it keeps its financial goals and says it is in exclusive talks with a possible buyer for its holding in its transport joint venture.
“There is still poor visibility on the short and medium terms. Veolia will be judged on its capacity to execute its restructuring plan unveiled in December 2011, we maintain our ‘sell’ recommendation on the stock,” CM-CIC analysts write in a note.
Despite Thursday’s rise, Veolia stock has lost 60 percent over the past 12 months, the second worst performance on the CAC 40 after Credit Agricole , down 62 percent over the same period.
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