Prada Surges 15% as Chairman Predicts Turning Point: Chart

Italian luxury-goods maker Prada SpA jumped as much as 15 percent in Hong Kong trading after predicting a rebound from weak demand in China and terrorist attacks in Europe that caused first-half sales to slump. This year “is a turning point and we are now firmly on the path to sustainable growth in revenues and earnings from as early as 2017,” Chairman Carlo Mazzi said on an Aug. 26 earnings call. Cost control by the luxury-maker was “better than expected” and may reassure investors, UBS AG analyst Helen Brand wrote in a note after the results.

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