GO
Loading...

Enter multiple symbols separated by commas

Prada Shares Hit All-Time High After Strong Earnings

Prada Lacks Strong Brand Loyalty in China: Analyst
Getty Images

Shares of Italian fashion house Prada surged as much as 7.9 percent to an all-time high on Friday after the Milan-based company posted forecast-beating quarterly results.

The shares rose to as high as HK$69.50 before they steadied at HK$68.40 as of 0138 GMT, up more than 6 percent and outperforming a flat benchmark Hang Seng Index.

Prada posted a 30 percent rise in third-quarter net profit to 122 million euros ($160 million), topping analysts' average forecast of 110 million.

Contact Asia News

  • CNBC NEWSLETTERS

    Get the best of CNBC in your inbox

    Please choose a subscription

    Please enter a valid email address
    To learn more about how we use your information,
    please read our Privacy Policy.

Asia Video

  • Weak PMI suggests tough turnaround in China: UBS

    Donna Kwok, senior China economist at UBS, says the dismal readings of Chinese manufacturing activity indicate that Beijing is having a hard time maneuvering a turnaround in its economy.

  • This is a 'fairly serious setback' for TPP: Pro

    Eswar Prasad, senior professor of Trade Policy at Cornell University, discusses the significance of a further delay in the already prolonged negotiations for the Trans-Pacific Partnership (TPP).

  • Are concerns over Fed rate hike overblown?

    Nathan Bell, head of research at Peters MacGregor Capital Management, explains why the Fed will not unveil an interest rate hike faster and further than market expectations.