3 days ago
Stock Movers: Inditex, UK Home Builders, Demant (podcast)
Inditex Tumbles, UK Home Builders Higher, Demant Gains On this episode of Stock Movers: - Zara-owner Inditex SA reported a muted start to the second quarter and warned that foreign-exchange headwinds could have a greater impact on results this year than anticipated. Shares tumbled. - Homebuilders more broadly are being bathed in a more positive sentiment thanks to UK government plans to spend more on affordable homes. Chancellor Rachel Reeves is today expected to detail plans to direct £39 billion of public money over 10 years to an affordable homes plan. - Demant shares rise as much as 4%, to the highest since Jan. 31, after the Danish company agreed to acquire hearing-aid retailer KIND Group for €700m, or around DKK5.2b, on a cash and debt-free basis. Analysts say the deal is a good fit.
