Carrefour shares climb as company unveils Brazil IPO details

Shares in French retailer Carrefour rose on Thursday after the company's Brazilian unit unveiled details for a possible $1.7 billion (£1.30 billion)initial public offering (IPO) in Sao Paulo.

Carrefour shares were up by around 1 percent by 0805 BST.

The stock was among the top performers on France's benchmark CAC-40 <.FCHI>, which was up by 0.3 percent, and it also slightly outperformed an 0.7 percent gain on the STOXX Europe 600 retail index.

On Wednesday, Carrefour's Brazilian unit filed for an initial public offering that could raise 4.5 billion to 5.6 billion reais ($1.4 billion to $1.7 billion) next month, making it Brazil's biggest listing in over four years.