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Marks & Spencer and Fast Retailing shake main markets

By FashionUnited

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European stocks advanced for a fourth day on Thursday,

as retailers and household-goods makers rallied, before a report that may show American unemployment claims fell. US index futures were little changed while Asian shares rose.

Marks & Spencer (MKS) Group Plc climbed the most in three weeks after posting sales growth that exceeded projections. Marks & Spencer rose 3.2 percent to 395.9 pence, its biggest gain since March 18, highlighted Bloomberg. The UK’s largest clothing retailer reported faster sales growth than analysts projected.

LVMH shares also showed a great deal of movement Thursday, amid rumours of new investments in international luxury firms. Meanwhile, Spanish Inditex – parent group of Zara and Massimo Dutti, - stock fought to keep its 100 euros a share milestone.

Japan's Nikkei gently stroke a five-year highs on Friday early trading, with market players said the Nikkei was likely to trade between 13,400 to 13,600 on Friday after rising 2 percent to end at 13,549.16, the highest level since July 2008.

Fast Retailing, Asia's biggest apparel company, left its full-year operating profit forecast unchanged despite a jump in sales in March at its flagship Uniqlo stores in Japan, as doubts linger whether aggressive economic policies will thaw a decades-long freeze in Japanese consumer sentiment, reported Reuters from Japan.

Still in Asia, shares of Prada SpA have been on a trading roller coaster since they tumbled 4 percent Monday, after its 2012 earnings and margins disappointed despite a boost to margins through a reduced discount sales period and better distribution control, published Bloomberg.
FashionUnited