Safran not plotting bid for Zafran Aersopace, report says

Safran is not preparing a bid for rival Zodiac Aerospace, Reuters reported, citing a “source familiar with the matter”.

At 15:54 BST Lettre de L'Expansion reported on the alleged plans by Safran, without citing any source.

The initial report sent shares in Safran promptly lower while stock in aerospace equipment manufacturer and engineer Zodiac was 12.61% higher to €21.48, having hit an intra-session high at €23.95.