French train maker Alstom's shares tumble 26% after it slashes its profit target and warns of €1.5bn cash burn

The French train manufacturer slashed its full-year adjusted EBIT margin target and warned investors it expects to burn through €1.5 billion in cash, sending its stock into freefall on Monday morning. The profit forecast cut triggered one of the sharpest single-day share drops the company has seen. Markets reacted immediately to the scale of the downgrade.

The 26% share price collapse wiped billions from Alstom's market value within hours of the announcement.

Alstom had already faced scrutiny over its financial health, making the new cash burn warning a severe blow to investor confidence.