Morgan Stanley Lowers Carrefour Rating Amid French Unrest

Morgan Stanley has downgraded French retailer Carrefour from a Buy to a Hold rating, citing the potential impact of the recent nationwide protests on the company’s earnings. The brokerage warned that sustained unrest could dampen consumer spending, particularly in the grocery and household goods sectors, and could delay the launch of Carrefour’s planned expansion projects. The downgrade follows a broader trend of market volatility as investors weigh political risks in France. Analysts expect the rating change to weigh on the stock, which has been trading near its 52‑week high. The firm also highlighted concerns over Carrefour’s margin pressure and the competitive landscape in the European retail market.