PARIS, Jan 18 (Reuters) - Shares in supermarket retailer Casino rose on Friday, as traders and analysts said the company’s fourth quarter sales had shown an element of resilience to the impact from anti-government protests in France.
Casino shares were up 3.9 percent in early session trading, helping to lift the shares of its domestic rival Carrefour which also rose around 2 percent.
Late on Thursday, Casino said revenue growth had slowed down slightly in the fourth quarter as anti-government protests in France impacted sales at its Geant hypermarkets, but Casino nevertheless kept its overall financial targets.
Fourth-quarter sales at Casino, which controls Brazil’s Grupo Pao de Acucar, reached 9.928 billion euros ($11.3 billion), above the 9.8 billion euros average in a consensus of 10 analysts’ forecasts compiled by the company.
“No real surprises emerged from the company’s Q4 sales despite a slight beat. France has held up well despite disruption from protests,” wrote investment bank Jefferies, which kept a “hold” rating on Casino.
$1 = 0.8776 euros Reporting by Sudip Kar-Gupta; Editing by Leigh Thomas