A wet start to summer has failed to deter shoppers from fashion giant Zara, whose owner has lauded a positive start to the season.
Shares in the Spanish owned-firm rose by as much as 5.5% after it signalled a strong start to the season, which saw in-store and online sales rise by 12% on a constant currency basis between May 1 and June 3.
The popular retailer, which has a unit in Aberdeen's Union Square, could be on track to deliver double-digit growth in the quarter.
Inditex reported a 7% rise in sales for the first quarter to the end of April.
It represents a slowdown from last year after it benefitted from a post-pandemic shopping spree.
Richard Chamberlain, analyst at RBC Capital Markets, said the sales between May and June "suggest some pent-up demand after a cool and rainy start to spring in southern Europe".
He estimates a 20% increase in sales for the rest of the quarter.
FTSE 100
The UK's flagship share index, the FTSE 100, was up six-points at 8,253 shortly after opening this morning.
Brent crude oil futures were up 0.31%, trading at $78.65 a barrel.
Companies reporting today
- Mitie Group - Full Year Results