Inditex rises after Reuters exclusives with Primark, Mango

Shares in the world’s largest fashion retailer Inditex closed 3 percent higher on May 11 in a falling Spanish market after executives of unlisted rivals Primark Iberia and Mango made upbeat comments on Spanish sales in exclusive Reuters interviews. The head of Primark Iberia said he expected double-digit like-for-like sales growth for Spain this year, while Mango said it would not enter a price war with competitors. Shares in Primark’s owner, Associated British Foods, closed 0.5 percent higher in a wider London market 1 percent lower.