Shares in Carrefour rise 2 percent, the top gainers on France’s CAC 40 index, after the world’s second-largest retailer posts reassuring results and says it will spend more cash to revive its struggling European hypermarkets and expand in the key emerging markets of China and Brazil.
“The results are in line, with a good message on Spain and Brazil. The company outlines continuing recovery in Spain, with strong improvement in the second half,” a Paris-based trader says.
Shares in Carrefour are still down 5.9 percent in 2014, hurt by worries over the group’s exposure to a number of emerging markets where local currencies have sharply dropped.
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