H&M dips; Cucinelli, Safilo soar (Il Sole 24 Ore Radiocor) - Milan, 27 Jun - In European stock market dealings most sectors were mixed, with media shares edging slightly higher while retailers were broadly lower.

Swedish retailer H&M dipped 12.61% in Stockholm dealings after reporting a smaller-than-expected increase in second quarter profits and said it would be more challenging to achieve its full year operating margin guidance of 10%, which it kept unchanged.

Shares of the Italian fashion house Brunello Cucinelli jumped 4.12% in Milan trade, leading the gains on the FTSE MIB index, after analysts at Stifel raised their recommendation on the stock to "buy" from "hold" and as shares in the European luxury goods sector perform strongly.

Shares of the Italian eyewear manufacturer Safilo jumped 5.74% following Italian media reports it has abandoned efforts to purchase its peer Marcolin. According to analysts at the Italian broker Intermonte, Safilo maintained that the price sought by Marcolin controlling shareholder PAI Partners of 1.3 billion euros was "too high." PAI currently owns 78.5% of Marcolin.

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(RADIOCOR) 27-06-24 13:43:30 (0391) 5 NNNN