DE4CC0DE-5FC3-4494-BCBF-4D50B00366B5

Retailer Casino's Shares Fall For Second Day In Row After New Downgrade

By Steve Wynne-Jones
Share this article
Retailer Casino's Shares Fall For Second Day In Row After New Downgrade

Shares in French supermarket retailer Casino fell sharply for the second day in a row on Thursday, after suffering another downgrade from analysts over concerns about its cash flow.

Casino's shares were down by 5% by 0710 GMT, after Morgan Stanley cut its rating on the stock to "underweight" from "equal weight", citing potential hits to its cash flow from a tough business environment.

Morgan Stanley's cut followed a downgrade earlier this week to Casino from credit rating agency Moody's, which had knocked down Casino's shares by 3% on Wednesday.

Casino is in the process of selling assets in order to help cut its debts.

News by Reuters, edited by ESM. Click subscribe to sign up to ESM: European Supermarket Magazine.

ADVERTISEMENT
Get the week's top grocery retail news

The most important stories from European grocery retail direct to your inbox every Thursday

Processing your request...

Thanks! please check your email to confirm your subscription.

By signing up you are agreeing to our terms & conditions and privacy policy. You can unsubscribe at any time.