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Wednesday, 27 April 2011 |
Main European indexes and stocks closed at a rise on Tuesday after the Easter break.
Traders returned to action after a four-day Easter break, which particularly affected the US trading. London markets will also be shuttered Friday for the royal wedding national holiday.
As analysts noted, with another short week for the UK market, the FTSE has got off to a good start, up around 25 points so far. Snappily named International Consolidated Airlines Group is leading the way with gains of around 3%. Burberry was among the top gainers in London, with shares rising 1.6% after last week’s stronger-than-expected sales report for the latest three-month period. The quintessentially British label attracted buyers following last week’s strong update. The share price of the luxury goods brand has set fresh all-time highs once more and seems to be attracting both the longer term investor and momentum trader alike, targeting a possible move through 1300p.
In the Americas, Under Armour announced financial results for the first quarter ended March 31, 2011. Net revenues increased 36% in the first quarter of 2011 to $312.7 million compared with net revenues of $229.4 million in the first quarter of 2010. Net income increased to $12.1 million in the first quarter of 2011 compared with $7.2 million in the prior year's period. Diluted earnings per share for the first quarter of 2011 were $0.23 on weighted average common shares outstanding of 52.4 million compared with $0.14 per share on weighted average common shares outstanding of 50.9 million in the first quarter of the prior year.
Despite its shining results, Under Armour´s shares were trading down the whole session, ending down by 2.55% and leading the top five losers within the FashionUnited Top 100 Index. The international fashion benchmark index closed in green for the fourth consecutive day, following the trail of other in international indexes. Generally speaking, late trading attention switched though to Wednesday’s GDP numbers and latest Fed interest-rate decision. |
