Prada's Hong Kong shares eye best day in nearly 5 months on H1 profit beat

Prada SpA

31/07/2024 02:48

** Hong Kong shares of Italian luxury group Prada  1913.HK 
jump 8.4% to HK$58.50, on track for their biggest one-day pct
rise since March 8 - if current gains hold
    ** Stock hits the highest since June 28
    ** Co posted on Tuesday higher revenues and operating profit
for the first half, beating analyst expectations and defying the
downturn in luxury spending that is hurting many rivals
    ** The overall positive sales trend seen in the first half
of the year has remained unchanged in July, Chief Executive
Andrea Guerra told analysts in a conference call
    ** The Hang Seng Consumption Index  .HSCGSI  rises 1.3%,
while the Hang Seng Commerce & Industry Index  .HSNC  and the
Hang Seng Index  .HSI  both gain 0.2%
    ** Co's Hong Kong-listed stock up 20.8% YTD 

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