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Shares of French retailer Carrefour (CARR. PA) soared on Monday as investors welcomed Carrefour's eventual relinquishment of its controlling stake in the loss-making Chinese business, which analysts said would support its profits and valuation.
Carrefour rose 2.5% to 17.44 euros at 0703GMT, one of the biggest gainers in France's CAC-40 Blue Chip Index. FCHI.
"We expect earnings to rise by 3-4% after stripping out China's loss factor and lowering interest rates. As far as our aggregate classified valuation is concerned, the valuation will increase by 0.7 euros per share, or 4% of the previous closing position, "said Bernstein analyst.
Suning Easy Buy (002024.SZ), a large Chinese retail company, announced on Sunday that its wholly-owned subsidiary, Suning International, would buy 80% of Carrefour China Holdings N.V. in cash of 4.8 billion yuan in Euros, thereby further improving the overall scene and layout of the whole category.


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