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MarketScreener Homepage  >  Equities  >  Bolsa de Madrid  >  Industria de Diseño Textil, S.A.    ITX   ES0148396007

INDUSTRIA DE DISEÑO TEXTIL, S.A.

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Inditex rally pushes European shares up ahead of UK election, tariff deadline

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12/11/2019 | 12:23pm EST
FILE PHOTO: Trader reacts at his desk in front of the DAX board at the Frankfurt stock exchange

European shares made small moves on Wednesday in anticipation of pivotal global events such as a U.S.-China tariff deadline, UK general election and some central bank meetings, but a 5.2% rally in Zara owner Inditex ensured a higher close.

The pan-European STOXX 600 index ticked up 0.2% reversing early gains. Spanish shares rose 0.8% to lead gains among regional peers as Inditex shares scaled a two-year high after posting a strong profit growth.

JD Sports' 9.5% drop was the biggest on the pan-region index. The sportswear retailer posted its worst day in 3-1/2 years after its largest shareholder, Pentland, sold a part of its stake.

That cancelled gains on London's benchmark FTSE 100 index which closed flat. An index with more domestically focused British firms slid 0.6%.

Britons vote on Thursday in an election that should decide the fate of Brexit. Polls now predict only a modest majority for Prime Minister Boris Johnson, an outcome that could prolong uncertainty and further hit investor sentiment.

The benchmark European index scaled four-year peaks in the past two months on optimism around an eventual departure for Britain from the European Union as well as hopes of a resolution to the U.S.-China trade war, but sentiment has lately been dampened by conflicting headlines on both.

A Sino-U.S. trade deal remains elusive ahead of the next round of U.S. tariffs on Chinese imports due on Dec. 15, but latest reports suggest that tariffs could be postponed.

A policy decision by the U.S. Federal Reserve later in the day is also in focus. The Fed is widely expected to keep borrowing costs steady, signalling the start of policy stability. On Thursday, newly appointed ECB chief Christine Lagarde is expected to strike a similar tone.

"Equity markets should be in for a couple of days where they see the confirmation of what they priced and therefore there should a modest lift that comes from that," said David Page, senior economist at AXA Investment Managers in London.

But if any one of the events delivers a surprise, it could lead to a more negative outlook, he said.

Among other shares, German engineering company Siemens was among the biggest boosts to the STOXX 600 after it named its strategy chief and former Kuka CEO Horst J. Kayser as boss of its loss-making portfolio companies.

By Susan Mathew and Medha Singh

Stocks mentioned in the article
ChangeLast1st jan.
FTSE 100 INDEX 0.28% 7234.11 End-of-day quote.0.00%
INDUSTRIA DE DISEÑO TEXTIL, S.A. -0.03% 31.02 End-of-day quote.-1.37%
JD SPORTS FASHION PLC 2.43% 857.8 Delayed Quote.0.10%
SIEMENS AG 2.27% 118.26 Delayed Quote.-0.81%
STOXX EUROPE 600 1.17% 424.98 Delayed Quote.1.81%
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Financials (EUR)
Sales 2020 28 058 M
EBIT 2020 4 983 M
Net income 2020 3 810 M
Finance 2020 7 955 M
Yield 2020 3,33%
P/E ratio 2020 25,4x
P/E ratio 2021 23,9x
EV / Sales2020 3,16x
EV / Sales2021 3,00x
Capitalization 96 613 M
Chart INDUSTRIA DE DISEÑO TEXTIL, S.A.
Duration : Period :
Industria de Diseño Textil, S.A. Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends INDUSTRIA DE DISEÑO TEXTIL
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 26
Average target price 29,77  €
Last Close Price 31,02  €
Spread / Highest target 12,8%
Spread / Average Target -4,03%
Spread / Lowest Target -35,5%
EPS Revisions
Managers
NameTitle
Carlos Crespo González Chief Executive Officer & Executive Director
Pablo Isla Álvarez de Tejera Executive Chairman
José Ignacio Fernández Chief Financial Officer
Amancio Ortega Gaona Non-Executive Director
Emilio Saracho Rodríguez de Torres Independent Non-Executive Director
Sector and Competitors
1st jan.Capitalization (M$)
INDUSTRIA DE DISEÑO TEXTIL, S.A.-1.37%106 660
KERING-2.02%79 140
FAST RETAILING CO., LTD.-2.52%58 077
ROSS STORES0.85%42 423
HENNES & MAURITZ-1.43%32 537
ZALANDO0.73%12 495