Carrefour shares plunge 13.8% after cutting targets amid French unrest
Carrefour shares dropped 13.8% after the French retailer cut its full-year targets, citing unrest that has reduced store visits, shortened opening hours and raised security and logistics costs.
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Carrefour shares fell 13.8% in Paris after the French supermarket group cut its full-year financial targets, citing violent unrest across parts of France, according to ANP. The company is facing fewer store visitors, shorter opening hours during curfews and higher security and logistics costs.
Carrefour operates thousands of supermarkets, hypermarkets and convenience stores in France. The report did not specify the revised targets or quantify the impact of the unrest on the retailer’s finances.
In Amsterdam, recruitment company Randstad was the strongest performer among mid-cap stocks, rising 20.1% after releasing quarterly results. The AEX index closed 0.8% higher at 1,142.30 points, near its record close of 1,142.88 on the previous Friday. The MidKap rose 1.6% to 1,075.59.
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