HK-listed L'Occitane at over 13-week high on strong quarterly sales

L'Occitane International SA

05/05/2023 03:51

** Shares of L'Occitane International SA  0973.HK  jump as
much as 12.9% to HK$22.10, their highest since Jan. 30
    ** Stock is the biggest pct gainer in Hang Seng Composite
Index  .HSCI  and seventh biggest pct gainer on the Hong Kong
bourse 
    ** Skincare products maker and chain operator says
like-for-like sales grew 8.4% YOY in quarter ended in March as
compared with 1.7% YOY decline in the previous quarter ended in
December 
    ** Daiwa reiterates "buy" rating on the stock; says all core
brands are growing but the brokerage sees risk from
weaker-than-expected consumer sentiment
    ** The Hang Seng Commerce & Industry Index  .HSNC  gains
0.6% while the Hang Seng Consumption Index  .HSCGSI  slips 0.2%
    ** The Hang Seng Composite Index  .HSCI  and the Hang Seng
Index  .HSI  both climb 0.2%
    ** As of last close, the stock had fallen 19.6% this year

 (Reporting by Donny Kwok)
 ((donny.kwok@thomsonreuters.com))