Advertisement
UK markets closed

  • FTSE 100

    8,213.49
    +41.34 (+0.51%)
     

  • FTSE 250

    20,164.54
    +112.21 (+0.56%)
     

  • AIM

    771.53
    +3.42 (+0.45%)
     

  • GBP/EUR

    1.1652
    -0.0031 (-0.26%)
     

  • GBP/USD

    1.2546
    +0.0013 (+0.11%)
     

  • Bitcoin GBP

    50,458.59
    +485.12 (+0.97%)
     

  • CMC Crypto 200

    1,314.28
    +37.30 (+2.92%)
     

  • S&P 500

    5,127.79
    +63.59 (+1.26%)
     

  • DOW

    38,675.68
    +450.02 (+1.18%)
     

  • CRUDE OIL

    77.99
    -0.96 (-1.22%)
     

  • GOLD FUTURES

    2,310.10
    +0.50 (+0.02%)
     

  • NIKKEI 225

    38,236.07
    -37.98 (-0.10%)
     

  • HANG SENG

    18,475.92
    +268.79 (+1.48%)
     

  • DAX

    18,001.60
    +105.10 (+0.59%)
     

  • CAC 40

    7,957.57
    +42.92 (+0.54%)
     
MONEY:

Best savings accounts that offer above inflation rates

Where to find a top-rated deal that works for you

STOCKS NEWS EUROPE-Casino rises after JPMorgan upgrade

Reuters - UK Focus

Shares in France's Casino (Paris: FR0000125585 - news) rise around 5 percent after JPMorgan analysts raise their rating on the retailer to "overweight" from "neutral", citing its presence in Brazil, the potential simplification of its structure by gaining control of subsidiaries, and clearer earnings visibility in its home market.

The analysts raise their target price for the stock to 94 euros from 81 euros. Casino is trading at around 88 euros.

"We believe there is potential upside from Casino reflecting the unrealised value in Nova Pontocom and cdiscount, which will likely be crystallized through an IPO in the next 12-18 months," the analysts write, adding that the company would likely simplify its corporate structure in the next few years.

"Having cut prices at Geant and doing so now at Leader Price, we believe that Casino France has increased its earnings visibility," the analysts add. "Separately, we believe French food retailers could benefit from a period of wage disinflation."

Reuters messaging rm://james.regan.thomsonreuters.com@reuters.net