Como se combate o populismo? "Com eleições", responde Fukuyama

[GAB]

EDF perd 2% au lendemain de son introduction

(AOF) - L'action EDF perd 2% à 31,60 euros pour sa deuxième séance boursière. Le titre s'est maintenu à 32 euros hier grâce au soutien des banques introductrices. Comme l'explique "Les Echos", ces banques auraient acheté des actions pour compenser les reventes des particuliers à la recherche d'une plus-value immédiate comme cela avait été le cas sur GDF (+23% le premier jour).

L'introduction d'EDF a été réalisée au prix fort : le spécialiste de l'électricité affiche l'une des valorisations les plus chères d'Europe dans son secteur. Les institutionnels sont néanmoins positifs à long terme compte tenu des positions concurrentielles du groupe en France. Certains joueront d'autre part l'entrée probable d'EDF au sein de l'indice CAC 40 avant la fin de l'année.

[Jameson]

para quem quiser acompanhar:

http://www.investir.fr/cours.phtml?code ... =pays%3D33

[vmerck]

o preço da operação, abre as 11.00

[Jameson]

UPDATE 1-France's EDF shares to start trading at 1100 GMT

(Adds newspaper comment)

PARIS, Nov 21 (Reuters) - Shares in French power group EDF <EDF.PA> are set to start trading at noon (1100 GMT) on Monday in the world's biggest initial public offering this year.

France's conservative government set a bolder-than-expected price tag on the shares on Friday, after retail investors rushed in to fill a gap left by wary institutions.

About 4.9 million individuals signed up for shares, exceeding the numbers for Gaz de France <GAZ.PA> and France Telecom <FTE.PA>.

But it is not considered likely that EDF will match Gaz de France's 23 percent price jump on its first day of trading, as fund managers and analysts have complained that the price was too high and said the government had taken a gamble on EDF's debut on Monday by ignoring relatively weak professional demand.

"The market will decide the discussion and fund managers, worried, wonder about the short-term potential of a rise in the share," said the Les Echos newspaper.

La Tribune said the launch on Monday would be a "baptism of fire".

"A poor inaugural performance of the EDF shares, or even a decline, would send a very bad signal to all those who have been seduced by government communication and a banking campaign rich in flattering considerations about the strength of the electricity group, but a lot more discreet about its weaknesses," La Tribune wrote in an editorial.

The Finance Ministry said late on Friday that, excluding a greenshoe over-allotment option and shares set aside for EDF staff, 6 billion euros ($7.0 billion) had been raised with the sale of 187,869,028 shares.

EDF was priced near the top of the government's target range and the sale valued the world's biggest nuclear power firm around 60 billion euros, vaulting ahead of Germany's E.ON <EONG.DE> to become Europe's largest listed utility.

Private investors bought 129,629,629 shares at 32 euros each. Another 58,239,339 shares were sold to institutional investors at 33 euros.

The greenshoe option could allocate a further 28,180,354 shares and raise the total amount of the deal to 7 billion euros.

The price set by the government, which will keep a stake of 85 percent, made it Europe's fourth-largest initial public offering and potentially the world's largest in 4 years.