Alstom soars on French, US contract wins
Shares in Alstom ALSO.PA rise about 7% on a contract for new RER trainsets in France and Metropolitan Transportation Authority Finance Committee (MTA) order from the French train maker of over 300 railcars to be built in New York State
The French contract, worth 1.7 billion euro ($1.96 billion), involves supply of 96 additional RER new generation trainsets for the RER D line in France
MTA approved a contract worth around 2 billon euros ($2.3 billion) for 316 Alstom-built railcars, governor Kathy Hochul announced on Monday, with pilot delivery in 2029 and full completion by 2032, enhancing LIRR and Metro-North fleets
U.S. contract includes an option for 242 more cars
"The rise reflects the good news on Iran, the winning of the $1.7bn contract, but also the announcement by the State of New York of the award of a $2bn contract to Alstom - which could be officially booked in a few weeks/months," Deutsche Bank's Gael de-Bray says
Shares are on track for their best day since early March
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