Ubisoft shares climb on Google game streaming partnership deal (updated)

Guillemot SA

02/10/2018 11:16

(Adds analyst comments)
    PARIS, Oct 2 (Reuters) - Ubisoft  UBIP.PA  shares rose on
Tuesday, outperforming weaker European markets, after Google
said it had partnered with the French video games maker to test
its video game streaming service.
    Ubisoft's shares were up 2.4 percent in mid-session trading
at 98.94 euros, making the stock the best performer on Paris'
SBF-120 index  .SBF120 , which was down 0.9 percent on concerns
over Italy's economic and political situation.
    Google said on Monday that it would team up with Ubisoft to
test its video game streaming service by offering the latest
instalment of Ubisoft's Assassin's Creed series.  urn:newsml:reuters.com:*:nL4N1WH4HO
    "The fact Google has chosen Ubisoft and chosen the next AC
game is a great endorsement of Ubisoft’s leading technological
efforts and their flagship franchise in our view," said Mirabaud
Securities analyst Neil Campling.
    Ubisoft shares are up by around 50 percent so far in 2018,
with the stock having hit a record high of 107.90 euros in July.
    The company's founding Guillemot family  GTCN.PA  owns
around 20 percent of Ubisoft while Tencent  0700.HK  has a 5
percent stake in Ubisoft.

 (Reporting by Sudip Kar-Gupta;
Editing by Leigh Thomas)
 ((sudip.kargupta@thomsonreuters.com; +33 1 49 49 53 84;))