Index up thanks to European impulse

Tuesday, 31 August 2010
The FashionUnited Top 100 Index delighted its followers yesterday with a promising up, escalating by 6.49 from Mondays 1022.92 Points to Tuesdays 1029.41. If there is a reason for this increase, it can be found in a renewed impulse coming from the major European quoted apparel companies –mainly British ones, and within the back to school season, already at its highest level.

Mark & Spencer ensured its growing path under new boss with a gain of 2.6 points, while compatriot Burberry Group jumped by 3.5 points. The winning trio was completed by JD Sports Fashion, one of the best values of the day, closing up by 19 points. In Germany, Puma AG surprised its stakeholders with an increase of 3.25 points and, without leaving the German borders, Hugo Boss revalued its shares by 1.15%.

However, the Old Continent not only noticed positive performances during its last trading session, as IC Companys lost 5.5 points in Denmark and Charles Voegele dropped 1.25 points in Switzerland. Yesterday was not either a good day in Italy, where Luxottica Group, Bulgari and Benetton kept on slightly falling compared to the previous week.  In neighboring Spain, textile giant Inditex closed with a light increase by the time Hermés also lost little value at the closure of the last session.

Far away, in Japan, some other values were playing definite roles for the performance of the FashionUnited Top 100 Index. It was the case of Fast Retailing, soaring by 30 points, Onward Holding going up with 4 points or United Arrows, with a gain of 22 points. These movements were definitely influenced by last official figures released yesterday, stating Japanese retail sales jumped for the seventh straight month and at a faster than expected pace in July, led by higher demand for motor vehicles and fuel.

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