While Nestlé shares fell slightly from daily highs, they were still positive at the end of the trading session.
Traders report speculation that the Vevey food company may use the half-year results release to lower the bottom line for organic sales growth this year. The inclusion of the papers in the “Most Preferred List” by Kepler Cheuvreux for European consumer goods manufacturers is proving to be trend-enhancing, it goes on to say.
At the closing bell Nestlé name gained 1.14 percent to 74.68 francs. The daily highs are even at 74.78 francs. By contrast, the market as a whole (SMI) recovered by just over 1 percent after the setback of the previous day.
Continue reading “Nestlé shares higher due to speculation surrounding an increase in growth targets”
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