SMCP rises after executives buy shares

Smcp SA

11/03/2024 14:07

** SMCP's  SMCP.PA  shares rise around 8% after five
executives bought shares for a total amount of EUR 0.38 million
in the French fashion group
    ** The share move "is linked to management buying shares,"
an analyst says
    ** The operation aims at showing "the faith and commitment"
of the company's management in the future of SMCP", a company
spokesperson said
    ** The stock lost around 49% of its value in 2023 and up to
the previous session's close was down 35% this year
    ** If gains hold, the stock will see its best day since
October 2023
    

 (Reporting by Alban Kacher and Gaëlle Sheehan)
 ((alban.kacher@thomsonreuters.com ;
gaelle.sheehan@thomsonreuters.com))