Thales at bottom of CAC 40, second day of decline after bribery probe
** Shares in Thales TCFP.PA continue to slide for a second straight session, down 2.4% and at the bottom of France's blue-chip CAC 40 index .FCHI, after last week's news it is facing an investigation over suspected bribery in Asia
** The French defence and technology firm on Friday denied allegations brought to its attention after Britain's Serious Fraud Office announced an investigation with French authorities, which sources said was related to a contract in Indonesia
** Indonesia's Defence Ministry said on Saturday it has not seen any indication of Thales' contracts with the ministry and the country's defence industry breaking any law
** The stock closed 2.9% lower on Friday, after falling as much as 7% before its denial of the allegations
** "This means there are four ongoing investigations into potential wrongdoing at Thales," Jefferies says
** Kepler Cheuvreux downgrades the stock to "hold" from "buy", citing a lack of immediate catalysts and saying conditions are ripe for a sector de-rating in 2025
Reporting by Olivier Cherfan
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