financetom
Market
financetom
/
Market
/
Macron urges TotalEnergies to stay in France after talk of US listing
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Macron urges TotalEnergies to stay in France after talk of US listing
May 22, 2024 12:02 AM

(Reuters) - France supports companies that believe in the country, its President Emmanuel Macron said in an interview published on Wednesday, in response to a question on oil major TotalEnergies' potential pursuit of a U.S. listing.

WHY IT'S IMPORTANT

A pillar of France's CAC 40 blue chip index, TotalEnergies is one of the world's largest oil companies and an important agent of French influence. A change of listing would also be a blow to Paris' prestige as a centre for international trading.

KEY QUOTE

"France accompanies those who believe in France, not the others. I don't think Total has ever complained about being French when it went to export markets", Macron told magazine L'Express. "It's in TotalEnergies' interest to stay in France"

CONTEXT

Constantly in public focus over its carbon footprint and windfall energy profits, TotalEnergies is walking a PR tightrope in its home country where it offers pump rebates to drivers and is a large employer.

On April 26, Pouyanne told analysts TotalEnergies was "seriously" looking at a possible primary listing in New York to ensure easier access for U.S. investors.

"We have more and more U.S. shareholders, and we have less European shareholders, including French shareholders - probably because of all the debate about ESG, etc," Pouyanne said this month. He stressed his company would keep a French listing even if it opts to enter Wall Street.

WHAT'S NEXT

Pouyanne said he would report back on the plans to the board by September.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Exchange-Traded Funds, US Equities Slump After Midday
Exchange-Traded Funds, US Equities Slump After Midday
Feb 12, 2025
01:07 PM EST, 02/12/2025 (MT Newswires) -- Broad Market Indicators Broad-market exchange-traded funds IWM and IVV were lower. Actively traded Invesco QQQ Trust (QQQ) was up 0.1%. US equity indexes fell as a stronger-than-expected inflation print sent government bond yields higher, lifting bets the Federal Reserve will extend its policy pause into March. Energy iShares US Energy ETF (IYE) and...
US Equity Indexes Mixed as Treasury Yields Advance Amid Hot Inflation Report
US Equity Indexes Mixed as Treasury Yields Advance Amid Hot Inflation Report
Feb 12, 2025
01:12 PM EST, 02/12/2025 (MT Newswires) -- US equity indexes traded mixed as a stronger-than-expected inflation print sent government bond yields higher, lifting bets the Federal Reserve will extend its policy pause into March. The Nasdaq Composite rose 0.1% to 19,673.2 after midday on Wednesday. The S&P 500 fell 0.1% to 6,061.5, and the Dow Jones Industrial Average was 0.3%...
US consumer inflation increases at fastest pace in nearly 1-1/2 years in January
US consumer inflation increases at fastest pace in nearly 1-1/2 years in January
Feb 12, 2025
* Consumer prices increase 0.5% in January * Shelter, food, gasoline lead broad rise in prices * Consumer price index rises 3.0% year-on-year * Core CPI gains 0.4%; advances 3.3% year-on-year By Lucia Mutikani WASHINGTON, Feb 12 (Reuters) - U.S. consumer prices increased by the most in nearly 1-1/2 years in January, with Americans facing higher costs for a range...
Sector Update: Energy
Sector Update: Energy
Feb 12, 2025
01:25 PM EST, 02/12/2025 (MT Newswires) -- Energy stocks declined Wednesday afternoon with the NYSE Energy Sector Index falling 1.2% and the Energy Select Sector SPDR Fund (XLE) dropping 1.7%. The Philadelphia Oil Service Sector index declined 1.8%, and the Dow Jones US Utilities index eased 0.2%. US crude oil stocks, including those in the Strategic Petroleum Reserve, rose 4.3...
Copyright 2023-2026 - www.financetom.com All Rights Reserved