Amid global uncertainty, Bryan, Garnier & Co prefers French retail stocks

Maisons du Monde SA

16/04/2019 09:39

** Brokerage Bryan, Garnier & Co says French stocks have
rebounded from the fears linked to Yellow Vests protests
    ** Says Fnac Darty  FNAC.PA  and Carrefour  CARR.PA  are the
two best French performers
    ** "While Brexit concerns are persisting, German growth is
slowing down and U.S. recession is looming, we prefer to look at
French stocks," says Bryan, Granier & Co
    ** Adds French retailers' valuation is still generally
attractive
    ** Says easing of Yellow Vests protests and French
households' confidence index to boost the retail environment in
France
    ** Says Q1 sales releases are set to be soft in the light of
a persistent Yellow Vests effect and Easter shift, which seem
already priced-in
    ** "French retailers are bound to reassure the market and
disclose the phasing of their Q1 performance, which we believe
was better in March than January and February" - brokerage 
    ** Broker favours undervalued French stocks, which are still
able to generate bottom-line growth even if the consumption in
France doesn't significantly rebound

 (Reporting By Aniruddha Chakrabarty)
 ((aniruddha.c.thomsonreuters.com@reuters.net))