Pluxee, Edenred rise on market relief over Visa's Brazil role

Shares in French voucher provider Pluxee PLX.PA rise 3.3%, driven by market relief over Visa's V.N limited role in Brazil's Meal Vouchers market.

Concerns over Visa's entry were unjustified, contributing to Friday's low-single-digit sell-off, says AlphaValue analyst Yi Zhong

The rise follows a clarification from Edenred EDEN.PA that Visa's involvement is restricted to implementing a dedicated system for existing players, not as a new competitor, analyst adds

Peer Edenred also rises 2.2%

"The core competitive structure within the Brazilian Meal Voucher sector appears to remain stable," says Zhong

Up to the previous session's close, Pluxee shares were down 10.5%​ YTD