Areva Shares Drop after Ditching Financial Targets

The French nuclear energy giant, Areva, has ditched its financial outlook for 2015 and 2016 on Tuesday.

As a result, Areva shares plunged about 15% the next day in Paris while shareholders tried to ditch the stock due to uncertainties.

The state-owned group blamed slow of its Japanese reactors after 2011 Fukushima accident, delays to its Finnish Olkiluoto nuclear project and overall “lackluster market”.

In the review, the company did not mention its offshore wind business. Areva is currently finalising the offshore wind merger deal with Spanish wind energy giant, Gamesa.

The new financial outlook for the 2015-2017 period will be presented by the 2014 annual results release.

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Press release; Image: areva