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Inditex falls 1.30% in the stock market despite returning to profits in the first quarter

Madrid, Jun 9 (.) .- Inditex shares fell 1.30% in the trading session this Wednesday in which it communicated to the market the return to profits in its first fiscal quarter (February to April), a period in the one that earned 421 million euros, compared to losses of 409 million a year earlier.

An hour after the opening, Inditex shares dropped that 1.30%, the second biggest drop on the IBEX 35, to 31.89 euros per share.

The titles of the textile group have turned around, since they started the day with gains that have reached over 1.5%.

In the accumulated of the year, Inditex revalued 0.60%.

Its market capitalization falls below 100,000 million euros, to 99,980 million.

After knowing the results, the analysts expected a positive reaction from the price, since as they have highlighted from Renta4, the accounts have exceeded the forecasts in the main figures such as income, gross margin, operating expenses and net profit.

Likewise, from Bankinter they have highlighted that the Inditex accounts have “widely” exceeded expectations, and have revised their target price to 34 euros, from the previous 32.

(c) . Agency

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