MNI BRIEF: Japan Govt Keeps Econ View, Cuts Exports

MNI: PBOC Conducts CNY200 Bln via MLF Thurs; Rate Cut

MNI: PBOC Sets Yuan Parity Lower At 7.1321 Thurs; -1.92% Y/Y

CHINA PBOC CONDUCTS CNY235.1 BILLION VIA 7-DAY REVERSE REPOS THURS

CHINA SETS YUAN CENTRAL PARITY AT 7.1321 THURS VS 7.1358

MNI China Daily Summary: Wednesday, July 24

France Manufacturing Sentiment Lowest Since Dec 2020

MNI: FRANCE JUL MANUF SENTIMENT AT 95

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Carrefour (CAFP; NR/BBB) Re-blast ahead of Auchan

CONSUMER STAPLES
Credit BulletsBulletHomepagemarkets-real-timeCredit

Results from last night here

  • It's not much of a credit mover for us - yet. It's playing down the margin weakness in Europe ex. France - area to watch heading forward - and leaving 2H guidance wide open (by saying FY will see yoy growth).
  • Elo/Auchan 1H results comes 9am London, read-through in France is mixed. Carrefour was pricing aggressively (-10%) but it still lifted its margin - which its tying to its own success. Auchan has lost -0.2ppt market share vs. Carrefour holding flat this year...unclear if that translates to better margin performance for Auchan.
  • Equity takes here
98 words

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.

Results from last night here

  • It's not much of a credit mover for us - yet. It's playing down the margin weakness in Europe ex. France - area to watch heading forward - and leaving 2H guidance wide open (by saying FY will see yoy growth).
  • Elo/Auchan 1H results comes 9am London, read-through in France is mixed. Carrefour was pricing aggressively (-10%) but it still lifted its margin - which its tying to its own success. Auchan has lost -0.2ppt market share vs. Carrefour holding flat this year...unclear if that translates to better margin performance for Auchan.
  • Equity takes here