Despite the strength shown by over the half ofthe companies that compound the FashionUnited Top 100 Index, the international fashion benchmark index closed down Tuesday, losing 27.38 points. Reason for the loss is to be found in the spreading concern on Eurozone´s wealth, again hit by its Mediterranean members’ financial weakness.
As per the European gaffe, the Top 5 losers were purely from the Old Continent, being last week´s champion Puma the worst beaten, touching base with a loss of 4.25 points. British companies accompanied the German firm, ranging from luxury Burberry to high street Next or Mark&Spencer, both noting cuts of 0.29% and 0.11% respectively.
Balance was made however by their Brit compatriots ASOS, Supergroup and Ted Baker, that owned the Top 5 winners of the day, with humble but still positive growth between 0.66% and 1.57%.
Better perspectives cheered the American markets. In Wall Street, there was unusual high volume detected on shares of Jones Apparel Group, Inc, early in the trading session. Jones Apparel is currently trading higher by 5.17%, so definitely the buyers stepping in, as the stock's volume is already above average. According to Zacks Investment Research, Jones Apparel has already traded 1.077 times its 3-month average volume, and has calculated support and resistance at $10.01 and $11.35 respectively. The overall market index S&P 500 is trading higher by 0.04% from its previous trading close, which means that Jones Apparel stock is outperforming the overall market.
Meanwhile, troubled American Apparel Inc. has the 1st highest upside potential (based on the difference between current price and Wall Street analysts' average target price) in casual high street segment. Up to the date, its upside is 180.4%. Its consensus target price is $3.00 based on the average of all estimates by analysts.
Finally, and back to the luxe’s investing refuge , in the past 52 weeks, shares of VF Corp have traded between a low of $69.52 and a high of $114.51 and are now at $114.97, which is 65% above that low price.