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STOCKS NEWS EUROPE-Metro AG falls on MS downgrade -traders

Reuters - UK Focus

Shares in German retailer Metro AG (Xetra: 725750 - news) drop 4 percent, the biggest faller among European retail stocks, after Morgan Stanley (Xetra: DWD.DE - news) downgrades the stock to "equal-weight" from "overweight", traders say.

"We struggle to identify any near-term catalysts," the Morgan Stanley analysts write in a note, saying the share already breached its price target of 36 euros this week.

Shares in Metro (Toronto: MRU.TO - news) have gained over 70 percent this year and reached a two-year high in November after the group said it was considering a move to spin off a stake in its Russian cash & carry business.

Reuters messaging rm://kirsti.knolle.thomsonreuters.com@reuters.net

rm://daniela.pegna.thomsonreuters.com@reuters.net