(News Bulletin 247) – The listing of Maisons du Monde shares was disrupted on Monday morning by high volatility, forcing Euronext to trigger a reserve mechanism twice, reports Reuters.
An eventful start to the week for Maisons du Monde on the stock market. The listing of the stock of the distribution group specializing in furniture was disrupted by significant volatility this Monday, October 23.
Maisons du Monde shares rose by 0.95% to 5.305 euros, around 11:30 a.m. after soaring up to 12.1% in early trading. It then fell by almost 2%. Without having any explanation at this stage on these important stock market movements.
“Following the opening of the stock market, a reserve mechanism was implemented twice on the Maisons du Monde share, given the high volatility and sharp increase in the share price this morning,” Euronext indicated in a statement to Reuters .
The group will publish its third quarter turnover on Thursday October 26 but had warned on October 9 that its activity between June and September would be penalized by a sharp decline in household consumption.
The furniture distribution specialist has thus revised its outlook for 2023 downwards, with Maisons du Monde bearing the brunt of inflation which is weighing on the purchasing power of households.
On the stock market, Maisons du Monde is also suffering the blow, with shares falling by 55% since the start of the year.
(With Reuters)
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