Carrefour shares plunge in Brazil after killing

Carrefour shares plunge in Brazil after killing

Products burn at a Carrefour supermarket in Sao Paulo during a protest against racism
Products burn at a Carrefour supermarket in Sao Paulo during a protest against racism

SAO PAULO - International supermarket giant Carrefour's shares plunged in Brazil on Monday, days after two white security guards at one of its stores killed a black customer, triggering widespread protests.

Shares in the French group's Brazilian unit were down six percent in afternoon trading on the Sao Paulo stock exchange after a video went viral of the guards beating 40-year-old welder Joao Alberto Silveira Freitas to death outside one of its stores in the southern city of Porto Alegre.

Carrefour shares suffered the biggest losses on the day, even as the Ibovespa index overall gained around one percent.

In Paris, Carrefour shares closed down 2.21 percent.

Carrefour chief executive Alexandre Bompard was swift to condemn the killing as a "horrible act," send his condolences to the victim's family and cut ties with the private security company that supplied the two guards.

But Carrefour has nevertheless faced a wave of boycott calls and sometimes violent protests outside its stores across Brazil, drawing comparisons with the killing of George Floyd in the United States in May and the ensuing protests.

The killing came on the eve of Black Consciousness Day in Brazil, where around 55 percent of the population of 212 million identifies as black or mixed-race.

Do you like the content of this article?
COMMENT (1)

TV legend Larry King dies at 87

Larry King, the amiable American broadcaster whose live global TV programme on CNN made him one of the most famous talk-show hosts in the world, has died in Los Angeles. He was 87.

23 Jan 2021

Danish man held on drug charges in Pattaya

PATTAYA: Police arrested a 51-year-old Danish man for allegedly selling drugs in this beach town for over six years and seized four condominium rooms and other assets worth over 10 million baht for examination.

23 Jan 2021

Ratchanok eliminated from Thailand Open

Ratchanok Intanon’s quest to make the final at the Toyota Thailand Open badminton tournament ended on Saturday with a three-set loss to top seed Tai Tzu Ying.

23 Jan 2021