Inditex reports a market capitalization surpassing 100 billion euros as investor confidence returns to its stock. The group closed the week with a capitalization of 100.2 billion euros, rising 2.23% to 32.15 euros per share. This milestone marks the third time since Marta Ortega took the helm that the Galician-founded company has reached the 100 billion euro threshold. Inditex has stood out as a strong performer this year, boasting a roughly 31.9% increase in value since January. The brand is now frequently cited among major global luxury and premium players, joining the ranks of Louis Vuitton, Hermes, ASML, L’Oréal, SAP, TotalEnergies, and Siemens. Analysts highlight Inditex as one of Ibex’s standout assets, aligning with its strategic market position and resilient performance in a demanding sector. (Attribution: market data and analyst commentary)
Three months after posting record results for fiscal 2022, Inditex sits at its highest market level since 2017. Revenue reached €32,569 million, up 17.5% year over year, while net profit amounted to €4,130 million, up 27%. Market observers note that the company has preserved gross margins through a challenging period, reinforcing its stance as a top value pick within the Spanish market index. (Attribution: market analysis and equity research)
The company is scheduled to disclose first-quarter results on Wednesday, June 7, with expectations of continued double-digit sales growth and solid earnings. With consensus forecasts suggesting ongoing momentum, JP Morgan’s latest report notes the potential for a 14% year-on-year rise in first-quarter sales, signaling a continued positive trajectory for the group. (Attribution: JP Morgan research)
The Ibex 35 gained momentum on Friday, closing up 1.63% to 9,317.3 points, extending the week’s advance to about 1.37% from a week ago. Investors weighed debt-ceiling negotiations in the United States against a backdrop of macroeconomic data from multiple regions. (Attribution: market briefing)
The rally on Friday followed the U.S. Senate’s approval of the debt-ceiling legislation, a pact between President Joe Biden and Speaker of the House Kevin McCarthy. In Spain, investors digested May unemployment figures and Social Security membership updates: unemployment dropped by 49,260 to 2.74 million, while Social Security added 200,411 new jobs, bringing total affiliates to 20.82 million. (Attribution: labor market releases)
Across the Atlantic, the U.S. unemployment rate ticked up to 3.7% in May despite the creation of 339,000 new jobs. XTB analyst Joaquin Robles also notes a sweep of data released during the week, including China’s PMI, which raised concerns about the pace of recovery in the Asian giant. Eurozone inflation cooled to 6.1% with core inflation at 5.3%, reinforcing a broad narrative of easing price pressures in major economies. (Attribution: macro data summaries)