Where finance and media intersect with reality

Spot Markets Live gets it right on EDF nationalisation

Screenshot 2022-07-06 at 16.58.44

Okay, okay, it’s not nice to brag or say “I told you so”. But we’re a young service, which means we are burdened with self-promotion until we become the established and well-funded force we hope to be.

Reuters is reporting on Wednesday that the French government is planning to take full control of EDF, France’s largest power provider:

PARIS, July 6 (Reuters) – Shares in French power group EDF (EDF.PA) spiked by as much as 8% on Wednesday after French Prime Minister Elisabeth Borne told parliament the state aimed to fully nationalise the debt-laden utility in which it already holds over 80%.

Shares are up 14.5 per cent on the news at pixel time:

Those who were part of our gated Spot Markets Live session on Monday, however, might not be surprised by the news. As Betaville‘s Ben Harrington, our co-host, noted in the session:

Talk in the market is the nationalisation move could be “imminent”.
That’s the piece in March from Bloomie with Macron suggesting the idea.
Now the gossip is the minorities might get bid between EURO 10.8 and 12 for the shares by the French government.

We know the French like their steaks bleu*, but this particular stake is now well done. It’s a good call from Ben, who I’m sure will be back with us soon.

Spot Markets Live is currently beta-testing on Mondays at 11am on the Coodash platform. For now, it remains a free service. If you would like to take part in the gated session, email [email protected] with ‘Spot Markets Live Access’ in the title and you will receive a login.

*Ben’s Betaville service rates the reliability of market news on a culinary scale. UNCOOKED is market gossip as Betaville receives it. Totally untested. The rumour might be total rubbish or nonsense – but then again there may be something in it.  RARE is gossip that has been tested with some of Betaville‘s usually well-informed sources but not through the complete complex of formal journalistic channels (public relations executives, bankers etc). WELL-DONE is confirmed. 

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