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CONSUMER STAPLES: ITM; 200 Casino store sales approved

CONSUMER STAPLES

Casino; headlines since on regulator approval for most of the 200 stores ITM acquired from Casino (2nd and 3rd wave) again are not a mover for either. It will require 11 to be sold back to competitors.

To be clear, Casino equities sold off ~40% 2-weeks ago on the announcementof medium-term targets. It has reversed most of that this morning, driver unclear but it is a small-cap (€660m market cap). Only other public news we have had since is ~8% share transfership to Daniel K - but he was already controlling owner.

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Casino; headlines since on regulator approval for most of the 200 stores ITM acquired from Casino (2nd and 3rd wave) again are not a mover for either. It will require 11 to be sold back to competitors.

To be clear, Casino equities sold off ~40% 2-weeks ago on the announcementof medium-term targets. It has reversed most of that this morning, driver unclear but it is a small-cap (€660m market cap). Only other public news we have had since is ~8% share transfership to Daniel K - but he was already controlling owner.

Keep reading...Show less