Areva drops 9 per cent on market amid Japan nuclear fears

March 14, 2011 | 17:08

(0) user say

French nuclear group Areva dropped 9.5 per cent Monday as European stock markets reacted to growing fears over nuclear power owing to problems with reactors in quake-hit Japan.

illustration photo

Shortly after trading began Areva's non-voting shares were down 9.5 per cent as the market overall shed 0.5 per cent.

The public group is at the heart of a running debate in France over nuclear power's role in a world seeking greener, sustainable energy, with the West seeking to lessen its reliance on Middle Eastern and Russian oil and natural gas.

However the unfolding nuclear disaster in Japan where reactors have been damaged by the massive earthquake and tsunami are reviving the anti-nuclear lobby.

Areva is a major player in the world nuclear energy field, with its activities covering the whole process from the extraction of uranium to the disposal of nuclear waste.

The public group is at the heart of a running debate in France over nuclear power's role in a world seeking greener, sustainable energy, with the West seeking to lessen its reliance on Middle Eastern and Russian oil and natural gas.

Areva is a major player in the world nuclear energy field, with its activities covering the whole process from the extraction of uranium to the disposal of nuclear waste.

AFP

What the stars mean:

★ Poor ★ ★ Promising ★★★ Good ★★★★ Very good ★★★★★ Exceptional