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STOCKS NEWS EUROPE-Metro rallies on cash and carry performance

Reuters - UK Focus

FRANKFURT, May 8 (Reuters) - Metro (Toronto: MRU.TO - news) shares rally 6.5 percent on better than expected profitability it its cash and carry business despite a weaker contribution from its Media-Saturn unit.

The stock trades at 13.4 times forward earnings - a discount to Europe's biggest retailer Carrefour (Paris: FR0000120172 - news) on 15.9 times.

"Although we would have hoped to see more positive news from the Media-Saturn sales, we will look to the World Cup as the next major catalyst, with Metro well positioned to benefit from any fillip," says Bernstein analyst Bruno Monteyne.

Reuters messaging rm://thomas.atkins.reuters.com@thomsonreuters.net

Reuters messaging rm://emma.thomasson.reuters.com@thomsonreuters.net