Jan 5 (Reuters) - Shares of France's Alstom surged to their highest since July 2023 on Monday after the trainmaker announced three rolling stock contracts worth around 2.5 billion euros ($2.9 billion)
Alstom Shares Reach New High with €2.5 Billion Contracts
Jan 5 (Reuters) - Shares of France's Alstom surged to their highest since July 2023 on Monday after the trainmaker announced three rolling stock contracts worth around 2.5 billion euros ($2.9 billion) in the Americas and Europe.
The stock rose as much as 4%, with analysts pointing to the strength of the order intake booked in the company's October-December third quarter, before paring gains to stand 3.5% higher at 1100 GMT.
The deals included a 1.4 billion euro contract in the Americas, a 600 million euro European framework agreement, and a 500 million euro order for additional rolling stock and maintenance in Europe.
Kepler Cheuvreux noted near-record third-quarter orders with a book-to-bill ratio around 1.5x. The ratio measures new orders against fulfilled orders over a period with a number above 1 indicating strong demand.
($1 = 0.8555 euros)
(Reporting by Leo Marchandon in Gdansk; Editing by Emelia Sithole-Matarise)
