Burberry dips, Leonardo rallies (Il Sole 24 Ore Radiocor) - Milan, 15 Jul - UK luxury giant Burberry sank 16.76% following a disappointing first quarter performance that led it to replace its CEO and slash its dividend.

Shares of the Italian defence and aerospace group Leonardo rallied 2.05% in Milan trade after analysts at Mediobanca increased their target price to 28 euros and reiterated its outperform rating on the stock.

In a report, Mediobanca analysts highlighted the unprecedented increase in defence budgets in 2023, with spending continuing to increase to meet the NATO alliance objective of 2% of GDP.

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(RADIOCOR) 15-07-24 13:34:15 (0325) 5 NNNN