Market sets eyes on Puma, PPR and Richemont

European shares kicked off the week by climbing back towards

near two-year highs to end stall Tuesday. Amid general losses, Next plc. saw positive trading, closing up by 61 pence, whereas market remained expectant to see Coach Inc.’s quarterly figures, to be released on Wednesday.

Exane BNP Paribas upgraded fashion retailer Next after a recent Christmas trading update highlighted the resilience of the business. Shares were 61 pence higher at 4,031 pence Tuesday by the end of session in London.

Still echoing its lower than-expected quarterly results, Richemont’s comments about weak sales growth in China sparked the luxury companies stocks. Its shares lost 5.6 percent, while Burberry dropped 1.4 percent and Louis Vuitton owner LVMH fell one per cent.

The pan European FTSEurofirst 300 index ended 0.3 percent higher at 1,166.53 points, quite close to its two-year high of 1,170.29. American stock markets were closed Monday due to bank holiday yet re-opened for Tuesday trading. The FashionUnited Top 100 Index also closed at down, losing 3.58 to 1,401.49.

Puma AG was among the leading stocks, feeding the speculations about a potential stake in the company. Earlier this week, Europe’s second-biggest sporting-goods maker´s stock surged to a seven-month high in Frankfurt trading. The shares rallied 4.2 percent to 240.95 euros at the close of trading Monday, the highest price since June 21. The volume of shares changing hands was more, more than triple the three-month average, according to data compiled by Bloomberg.

Still in Europe, Oddo & Cie reissued their buy rating on shares of PPR SA (EPA: PP) in a research report released on Tuesday. Oddo & Cie currently has a 234.67 dollars (176 euros) price target on the stock. A number of other firms have also recently commented on PPR, following the news on the acquisition of Scottish designer Christopher Kane´s eponymous label. Analysts at Cantor Fitzgerald reiterated a buy rating on shares of PPR SA in a research note to investors on Wednesday, January 16th. They now have a 226.67 dollars price target on the stock.