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Article: Euro Disney shares drop after warning on debt payments
- Article from:
- AP Worldstream
- Article date:
- August 1, 2003
- Author:
CopyrightProvided by ProQuest LLC. (Hide copyright information)
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Dateline: PARIS
Euro Disney SCA shares plunged 23 percent before recovering some ground
on the Paris stock exchange Friday, a day after the European theme
park operator warned it would not meet its debt repayments as first
planned.
A weak European tourism market and the fallout from French labor strikes
have led to a drop in attendance and profits at Euro Disney's two
theme parks, the company said in a statement late Thursday.
Investors punished its stock in reaction. After a drop of 23 percent
in the morning, Euro Disney shares were down by 11.5 percent to euro0.58
(US$0.65) in afternoon trading Friday. At one point the shares were
halted limit-down. They had dropped ...