Fed revives European stock rally; EDF sinks

jueves 19 de junio de 2014 13:28 GYT
 

(Adds Alstom; updates with closing levels)

* FTSEurofirst 300 up 0.6 pct, Euro STOXX 50 up 1.1 pct

* EDF's plunge takes 3.8 bln euros off its market value

* Alstom tumbles after GE unveils new offer

* Peugeot's short-covering rally continues

By Blaise Robinson

PARIS, June 19 (Reuters) - European stocks rallied on Thursday, with one blue-chip index near a six-year high, after the U.S. Federal Reserve signalled that over the long-run interest rates would be lower than it had previously indicated.

Bucking the trend, shares in French utility EDF sank 7.7 percent after Energy Minister Segolene Royal said a five percent tariff increase scheduled for Aug. 1 would not be applied.

The drop wiped out 3.8 billion euros ($5.2 billion) in market value - more than half the price of the latest-generation nuclear reactor EDF is building in Flamanville, France.   Continuación...