Ubisoft shares rise on Google game streaming partnership deal

PARIS (Reuters) – Ubisoft 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.

FILE PHOTO: The UBISOFT logo is shown at E3, the world’s largest video game industry convention in Los Angeles, California, U.S. June 12, 2018. REUTERS/Mike Blake

Ubisoft’s shares were up 1.9 percent in early session trading at 98.48 euros, making the stock the best performer on Paris’ SBF-120 index, which was down 0.7 percent on concerns over Italy’s economic and political situation.

Google said late on Monday that it would team up with Ubisoft to test its video game streaming service by offering the latest installment of the Assassin’s Creed series.

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.

Reporting by Sudip Kar-Gupta; Editing by Leigh Thomas

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