Nicolas Hulot appointed minister to drop the action of EDF 7%

After the election of Emmanuel Macron as the president of the republic, the government, Philippe has been put in place, and among the ministers appointed figure Nicolas Hulot. If NGOS and environmentalists have welcomed the arrival of Nicolas Hulot in the government, the company EDF, which provided the majority of homes in the French electricity excited about it much less. And for good reason, the action of the electricity supplier has lost nearly 7% on the Paris stock exchange on Wednesday. The fall in the price has accelerated significantly after 15h, at which time the appointment of the former host of TF1, the position of the Minister of State in charge of the ecological Transition and of solidarity, has been announced.

Nicolas Hulot minister, the nightmare of EDF ?

Prior to Macron, Hulot had already refused a position in the government front of 3 presidents (Chirac, Sarkozy, Hollande), he was eventually convinced by Macron. The announcement has not been without impact on the financial markets and the investors relative to the title of EDF since he feared simply that the new minister is known for his guidance of ecological and hostile to nuclear power, is positioned against the interests of EDF. In the columns of the daily newspaper «Libération», he recently said that he had to «reposition EDF […] in a trajectory consistent with that of the energy transition».

The action of EDF was bullish for the past month

Since Emmanuel Macron, favorite (1) of the 2nd turn, the financial markets were confident and on a one-month period preceding the announcement of the new government, the share price, EDF had won 28% (evolution of the price of 7,40€ 9,48€). On the day of the announcement of the new ministers, and Nicolas Hulot, among them, the share price of EDF has dropped 9.48€ 8,80€, representing a loss of more than 7%.

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