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Wednesday, 07 December 2011 |
The FashionUnited Top 100 Index 1309.18 rose by 5.38
on Tuesday, breaking the curse that has kept the international fashion benchmark index closing in red during the early days of the weeks for almost a month.
In Wall Street, Nike saw its shares ‘performance slightly increased (+0.04%) on Tuesday son after advancing its plans to release its second quarter fiscal 2012 financial results on Tuesday, December 20, 2011, at approximately 1:15 p.m., following the close of regular stock market trading hours.
Meanwhile, Next plc became one of the most traded stocks by value within the FTSE, with value of shares traded up to £5,277,413,575 (Rs 42219 crores). Burberry closed lower for second consecutive day, after being the heaviest casualty of the day on MOnday, heading up the list of losers on the day's leaderboard. The luxury goods company was sent tumbling by news that China has seen only a small rise in the service sector, leading to renewed concerns over the growth in the economy.
Elsewhere, Patrick Thomas, Hermes International (RMS) SCA’s chief executive officer, said the LVMH Moet Hennessy Louis Vuitton SA “affair is over,” after shareholders united against LVMH’s purchase of a stake, Le Temps reported.
Hermes can expect 10 percent sales growth next year, on a “cautious” estimate, as long as the world economy doesn’t enter a serious recession, the newspaper cited Thomas as saying, according to Reuters.
Finally, crocodile-skin goods maker Heng Long International suspended trading on Tuesday after it gained shareholder acceptance of an offer from HL International on behalf of luxury goods group LVMH, the Dow Jones news agency reported. Heng Long received valid acceptances amounting to 266.4 million shares, or 99.4 per cent of its total equity, when the offer closed at 5.30pm on Monday, the company said in a statement to the Singapore Exchange late last night. LVMH made a S$160.8 million (Rs 804 crores) offer in October for a controlling stake in Heng Long. HSBC advised LVMH on the acquisition. |
