Prada shares jump 13% on growth outlook
[HONG KONG] Shares in Prada jumped 13 per cent after the Italian luxury goods maker said it would return to growth this year having stemmed a sales slide in the second half of 2017.
Profit at Italy's largest luxury player by revenue has been falling since 2014 even as competitors such as Kering and LVMH have boosted sales.
In early morning trade, Prada shares jumped to HK$36.9, the highest since May 5, 2017 and outperforming the benchmark Hang Seng Index which was up 1.4 per cent.
REUTERS
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Capital Markets & Currencies
Europe: Shares end higher on tech support; banks slide
US: Stocks rally on cooler hiring numbers
Singapore stocks end week in the red; STI down 0.1%
Asia: Markets track Wall Street higher as rate hopes rise, eyes on US jobs
H2G Green chief to stand trial on Aug 5 amid MOM probe
Singapore shares climb at Friday’s open; STI up 0.2%