On this episode of Stock Movers:
- France’s billionaire Pinault family agreed to sell its 29% stake in Puma to China’s Anta Sports Products, paring back its holdings beyond the luxury-goods industry as it focuses on a turnaround at the key Gucci brand. Puma shares jumped as much as 21% in early Frankfurt trading, roughly halving the past year’s decline.
- Burberry gets upgraded to overweight from equal weight at Barclays as analysts see the UK fashion brand’s turnaround strategy paying off.
- Cranswick shares rise as much as 4.7%, hitting a five-month high, after the food producer said annual adjusted pretax profit should come in toward the upper-end of market expectations following strong topline growth in the third quarter, including over the key Christmas period.
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