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Christopher Bruce2012-09-11 02:53:42

PSA Will Be Removed from French Stock Index

PSA is going through a crisis caused by focusing on the European market

NYSE Euronext scientific board has decided to remove PSA PeugeotPeugeotPeugeotFrance, 1882 > present120 models
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-CitroënCitroënCitroënFrance, 1919 > present94 models
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from the CAC 40 stock index on September 24 citing the stock's poor performance. It is currently at a 26-year low and the share price at the end of the business day on September 10 was €6.42 a share. 

According to PSA CEO Philippe Varin, the company has been losing €200 million a month and posted a €819 million net loss in the first six months of the year. 

The decision to drop the stock is based on available shares, market capitalization and revenue trends. 

Peugeot has been on the CAC 40 index since it began in 1987. It is currently the index's smallest member and makes up 0.22% of the index. 

Peugeot will be replaced in the index by chemical and plastics company Solvay.

Source: Car Scoop and Washington Post





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