inditex Companies that achieve a capitalization of over 100,000 million euros return to their club. The company closed this Friday on the stock market with a capitalization of 100,200 million, up 2.23% to 32.15 euros per share. The company has reached 100,000 million for the third time since Marta Ortega assumed the group presidency. The Galician-based company has become one of the best values for the year, with a revaluation of 31.89% since last January. “This brand joins the greats of world luxury such as Loius Vuitton and Hermes.and ASML joined major Europeans such as L’Oréal, SAP, TotalEnergies or Siemens. “It’s one of Ibex’s greatest assets and surprising given the market segment it’s focused on,” says Darío García, analyst at XTB brokerage firm.
Just three months after the company delivered record results as in fiscal 2022, it’s at its highest level in the market since 2017. Invoicing reached €32,569 million, up 17.5% year-on-year, and profit was €4,130 million, up 27%.. “They have maintained their gross margins during a very difficult period and have become one of the best values in the Spanish selector,” says Tressis analyst Víctor Álvarez.
The company will publish the results of the first quarter of the year next Wednesday, June 7th.. Analysts, who believe that sales growth may be in double digits, are expected to meet forecasts and turn into very strong numbers. “We expect it to continue on the trajectory it has followed so far, and we believe the company can grow 14% year-on-year in sales in the first quarter,” JP Morgan analysts said in their latest report.
The Ibex 35 experienced a ‘rebound’ this Friday, closing the session 1.63% higher. which resulted in it remaining at 9,317.3 integers, an improvement of 1.37% for the week as a whole compared to last Friday. The week was marked by the debt ceiling negotiations in the USA and the publication of macroeconomic data in many countries.
So the dynamism of this Friday It comes after the US Senate’s decision to pass the debt ceiling law agreed with the president.Joe Biden and the Republican Party’s Speaker of the House of Representatives Kevin McCarthy.
In the Spanish area, investors learned data on unemployment and membership in the Spanish Social Security Institution for May: unemployment decreased by 49,260 unemployed (to 2.74 million), membership in Social Security added 200,411 new jobs (to 20.82 million affiliates increased) .
Finally, among the references for this Friday, the unemployment rate in the US, which rose three-tenths to 3.7% in May, despite the creation of 339,000 new jobs. XTB analyst Joaquin Robles It also highlights other data released during the week, such as the PMI for China, which “resets the alarm bells about the Asian giant’s slow recovery.”or Eurozone inflation fell to 6.1%, while core inflation fell to 5.3%.