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Inditex becomes Spain’s most valuable group Wednesday, 30th May 2012
Photo credit: Inditex Group
Against a tempestuous economic backdrop, Zara owner Inditex has overtaken Spanish telecoms operator Telefónica to become Spain’s most valuable listed company.
According to the Financial Times, Inditex shares on Tuesday closed with a market capitalisation of EUR 43.1 billion, almost EUR 1 billion above Telefónica’s value, after the stormy markets wiped billions in capitalisation off some of Spain’s largest and most established companies.
Inditex is one of the few Spanish companies to continue to climb in value as it weathers the Eurozone crisis, which yesterday saw Spain report its 22nd month consecutive month in falling retail sales.