European optimism boosts the Index

Wednesday, 06 October 2010
FashionUnited Top 100 Index closed on Tuesday at 1148.29, rising by 0.16 points and keeping itself above other indexes such as the Chinese Hang Seng, which rose to 1, 117.91 points; the Dow Jones, which stood up at 1,084.99 or the Amsterdam Stocks Exchange Index AEX, which made it towards a closure in 1,006.38.

With the summer already far away, stocks markets are moving faster than the previous weeks, acquiring speed for the last quarter of the year and willing to let behind the last crisis struggles.

Optimism is ranging across Europe, being the European companies gathered in the FashionUnited Top 100 the ones adding more value to yesterday’s index performance. After banking celebrating juicy bonuses earlier this week, now time has come to brands including Ted Baker, Next or H&M to rejoice in their gains. The Swedish company is arising interests from around the globe on its re-capitalization, fast that was translated into a jump of 1.4%. In the meantime, luxury group Hérmes International dropped by 1.34%.

In the UK, NEXT cheered its recently announced brand laptop with an increase in its quotation of 15 points and ASOS became the unarguable champion of the day by reporting a gain of 4.32%. Bad news however for Burberry that crashed down by 13 points and JD Sports Fashion, losing another 10.

In India, Koutons Retail India has estated via their Press Office that they only delayed payments to its lenders, denying reports of a loan default, which had sent the company's shares plunging last week. The New Delhi-based retailer, lost 47 percent in market capitalization last week, following reports of default and a rise in pledged shares by founders that led to murmurs of their probable exit. It reported a fall of 2% within the FashionUnited Top 100 yesterday.

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