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B&M European Value Retail falls on Morgan Stanley downgrade to 'underweight'

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** Shares of British multinational variety goods value retailer B&M European Value Retail SA BMEB.L fall as much as 3.4% to 460.90p, stock among top pct losers on FTSE 100 .FTSE index

** Morgan Stanley cuts rating on stock to "underweight" from "equal-weight", slashes price target to 433p from 575p

** "LFL growth is slowing and we expect margins will contract y/y over FY25e, which is a worse outlook vs UK retail peers" - Morgan Stanley

** Brokerage expects the underperformance spread to continue for both pricing and volume reasons

** Stock down 2.3% as of 0921 GMT, taking YTD losses to ~16%

Reporting by Aby Jose Koilparambil in Bengaluru


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