Carrefour stock falls after the denial of the merger with Couche-Tard

By Admiral Markets

Carrefour shares fall by about 6%, and has seen three consecutive days close in the red after the French Government announced its denial of a possible merger with the Canadian group Couche-Tard, which has led the latter to withdraw its interest in negotiating a transaction.

The French supermarket chain closed 13.42% on the Paris Stock Exchange on Wednesday the 13th, after acknowledging preliminary talks with the Canadian company. Thanks to this rise, the value reached its highest highs since July 2019, exceeding 17 euros per share. Now, however, it is once again trading at the threshold of 15 euros. If it continues down, it could fall to the next support, at 14.8 euros per share.

Source: Admiral Markets MetaTrader 5. Carrefour daily chart. Data range: from November 23, 2018 to January 18, 2021. Prepared on January 18, 2021 at 12:30 p.m. Keep in mind that past returns do not guarantee future returns.

Carrefour has not done well on the stock market in recent years, so last Wednesday’s rise sparked optimism among investors. The refusal of the French Government, however, has meant a setback and a wave of liquidation.

Carrefour’s performance over the last five years has been: 2020, -6.15%; 2019, 0.27%; 2018, -17.35%; 2017, -21.19%; 2016, -14.11%. So far this month, it has accumulated an increase of 11% at the moment.

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By Admiral Markets