Rubis falls on French watchdog fine over Corsica fuel deal

Rubis SCA

18/11/2025 08:22

** Shares in Rubis RUBF.PA fall around 5% to their lowest level since early November after the French petroleum products distributor was fined together with TotalEnergies TTEF.PA by France's antitrust authority on Monday

** TotalEnergies is down around 1% at 0817 GMT

** Rubis was fined 64.7 million euros($75.00 million) over an anticompetitive deal that raised fuel prices in Corsica

** BNP Paribas' Portzamparc analyst Nicolas Royot says the fine represents a hit of 62 euro cents per share and is equal to more than 20% of the net income the brokerage expected in 2025

** "The companies that were fined have one month to appeal, but filing an appeal does not suspend enforcement, which means they must pay the fine immediately," Royot says in a note

** Portzamparc downgrades its rating on Rubis to "accumulate" from "buy", and cuts its PT to 35.2 euros from 35.7

** Up to the previous session's close, shares were up 35.5%​ YTD

($1 = 0.8627 euros)

(Reporting by Mateusz Rabiega)

((Mateusz.rabiega@thomsonreuters.com))