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
Stocks to watch: UOB, DBS, Olam, Far East Orchard, Daiwa House Logistics Trust, Manulife US Reit
Europe: Shares close at record highs on financials boost
US: Sideways day for stocks as Disney tumbles
US dollar inches up; Aussie, yen slide
Singapore stocks end lower even as regional markets rally; STI slips 0.1%
Swiss-Asia Financial Services fined S$2.5 million for breaches of anti-money laundering rules