Luxury is growing in Piazza Affari, especially Yoox, which in the mid-afternoon, on a weak day for the Italian stock exchange, is the best stock on the Ftse Mib, gaining almost 6% over the 18 euro threshold, 18,16 euros around 16 pm. Zalando's boom is dragging the exploit against the trend: the German group, which represents the largest online seller of fashion items, jumped by 8,75% to 21,85 euros (above the price of the recent IPO) after the release of quarterly data, which see an increase in turnover beyond expectations at 501 million euro (+24%).
Furthermore, after a slightly loss-making third quarter, the company expects to close all of 2014 with a profit: an estimate that has generated optimism on the market both on Zalando and in general for its competitors, including Yoox at Business Square. This week, among other things, Zalando also announced that starting next summer it will sell the products of the American Gap in Europe.
However, only Yoox benefited from Zalando's performance: Moncler at the same time gained only 0,8% 11,79 euros, while Salvatore Ferragamo is still in negative territory (he has lost half a percentage point). The slight rise of Luxottica (+0,31% y 42,22 euros) was instead determined by the promotion of Nomura, who in the context of a report on European luxury, he had raised the rating of the Venetian company to buy with a target price raised from 40,7 to 47,5 euros. According to the Japanese investment bank, the eyewear group guarantees an attractive mix of brand accessibility, strong cash generation, significant exposure to the USA (60% of turnover), positive in light of the euro-dollar exchange rate and GDP US beyond expectations. In general, Nomura has promoted the European luxury sector from neutral to bullish. Initially, after the publication of the analysis, Luxottica shares had managed to gain almost 2%.
