October 11, 2024 12:19 GMT
CONSUMER STAPLES: Elo/Auchan (ELOFR; NR/BB Neg) sell-off picks up pace
CONSUMER STAPLES
Auchan 2-2.7pts cheaper (+70-100bps wider)
Moves are now larger than post-1H results sell-off and we are still hearing on selling flows.
We do have some thoughts to add - unfort. it won't to support a view on the name with a large amount of uncertainty on it executing its plan. Adding to that it seems to be a slow burner (not something you are likely to see impacts of in FY results come late Feb/early March). We will circle back early next week.
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