Legrand rises as growth in America, datacentre biz drives Q2 beat
** Shares in Legrand LEGD.PA rise 5% after the French electrical infrastructure provider published better-than-estimated organic sales, driven bya strong growth in Americas, datacenter business
** The company posts its organic sales growing 1.5% in Q2 2024, while Jefferies says consensus expected a 1.0% decline
** "In the second quarter alone, a moderate rebound in sales (+1.5% organic growth) stemmed notably from datacenter business," Legrand CEO Benoit Coquart says
** "With all eyes on datacenter growth, it seems the market has something to cheer for," Jefferies says
** The broker also points to Legrand'sstrongest performance in North/Central America since Q4 2022 as the group's sales in the region grew 5.4% against a 1.1% fall seen by consensus
Reporting by Boleslaw Lasocki
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