ITALY/INTERNATIONAL. The Nuance Group co-parent, Italian fashion-to-retail company Stefanel, has reacted to a sharp recent rise in its share price by saying it is not planning any extraordinary operations or board meetings.
The statement, in response to a request from Italy’s market regulator, added that the company was unaware of the reasons behind the movements.
According to The Moodie Reportfolio* Daily Stockwatch, Stefanel gained +9.3% yesterday. Last week saw a similarly sharp move on 17 September as the stock rose +12.6% – while almost all other travel retail-related shares fell. From 22 August to 23 September Stefanel’s share price rose by +68.6% from 0.35 to 0.59.
One informed observer told The Moodie Report: “The volume of Stefanel shares traded over the past week or so is very large compared to historical trading volumes. This may indicate that somebody is building a position in Stefanel shares.”
If so, whether that stake-building is related to Stefanel’s domestic or travel retail interests is uncertain. But the stock will be watched closely in the near future.
Meanwhile yesterday was another troubled day for The Moodie Reportfolio’s basket* of 13 travel retail-related stocks.
Autogrill (Aldeasa, Alpha, HMSHost, World Duty Free) closed down by -3.9%; Dufry fell -3.5% to 57.00, just above a 52-week low of 56.15; and Dufry South America continued to struggle, down -2.5% to 19.50, near its recently touched 52-week low of 16.50.
Hellenic Duty Free Shops and DFS Group co-parent LVMH also fell, while Aelia and HDS Retail parent Lagardère gained slightly on the day.
Travel retail-influenced stocks are currently being affected by negative investor sentiment towards the aviation sector.
* BACKGROUND ON THE MOODIE REPORTFOLIO
At the beginning of August 2007 The Moodie Report invested a hypothetical US$10,000 – or local currency at prevailing exchange rates – in 13 travel retail-related stocks. Some are pure duty free/travel retail companies, some are parent or related groups. The resultant basket of stocks is The Moodie Reportfolio.
The stocks are:
– Autogrill (Aldeasa, Alpha, HMSHost, World Duty Free)
– Bahrain Duty Free Shops
– Dufry
– Dufry South America
– Hellenic DFS
– Japan Airport Terminal Co
– Jordanian Duty Free Shops
– Lagardère (Aelia; HDS Retail)
– Lotte Shopping Co
– LVMH (DFS Group)
– MISR Duty Free Shops (Egypt)
– Stefanel
– Tourvest
Each month our Research & Analysis Manager, Singapore-based Justin Lee, reports on the change in The Moodie Reportfolio and its individual components. He tracks our original investment and notes the outstanding performers for the month in both local and US currency and the year to date (the latter in US Dollar terms). This service is supported by our daily Stock Watch tickertape.
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MORE STORIES ON THE MOODIE REPORTFOLIO
The Moodie Reportfolio: Autogrill shares rise on strong half-year performance – 09/09/08
The Moodie Reportfolio sinks by -29.8% amid a challenging year for travel retail stocks – 08/08/08
The Moodie Reportfolio: Travel-related stocks tumble as oil prices surge – 07/07/08
