Mercialys shares top SBF120, analysts point to end of Casino equity swap
16/09/2022 12:15
** Shares in Mercialys MERY.PA rise 3.5%, topping France's
SBF 120 index .SBF120 which falls 1.3%, with analysts pointing
to the end of Casino's CASP.PA equity swap on the shares of
the French shopping malls operator
** Retailer Casino, which spun off its property unit and
listed it on the Paris stock exchange in 2005, has been
progressively reducing its stake in Mercialys for years
** A filing from the French markets authority showed on
Sept. 5 that Casino held 4.86% of Mercialys' capital
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** "I am strongly convinced that there will be a repricing
of the share due to the end of the Equity Swap of Casino on the
Mercialys share," says Oddo BHF analyst Florent Laroche Joubert
** Oddo BHF changes its raises its recommendation on the
stock to "buy" from "reduce"
** Analyst Pierre-Emmanuel Clouard from Kepler Cheuvreux
also points to the end of the placement of Casino as to what is
boosting Mercialys shares
** Out of the six analysts that cover the stock, five rate
it "buy" and one rates it "hold", according to Refinitiv data
** Casino shares are down 2.8%
($1 = 1.0038 euros)
(Reporting by Elena Vardon)
((elena.vardon@tr.com))