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Recovering Alcatel-Lucent seen rejoining France’s CAC 40

29
Nov
2013

By Blaise Robinson and Alexandre Boksenbaum-Granier PARIS (Reuters) – Alcatel-Lucent could rejoin Frances blue-chip CAC 40 index next month as the telecom gear makers turnaround gains traction and its stock hits two-year highs, analysts and fund managers said. If restored to the CAC 40, Alcatel would benefit from demand from index trackers of about 255 million euros, or 81 million shares, equivalent to two average days of volume, Exane BNP Paribas index analyst Christophe Wakim said. Alcatel – a founding member of the CAC 40 when the benchmark was created a quarter century ago – was kicked out of the index a year ago. Alcatel, which makes equipment for big telecom groups like ATT and Orange, had been stuck for years in a downsizing spiral as it struggled with stiff competition from low-cost Chinese rivals and weak demand from customers.

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