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Salvatore Ferragamo Stock Surges on Encouraging Signs in Main Market of Asia

Some may call it the Michele Norsa effect.

Despite the setback dealt by the effects of the COVID-19 pandemic in the first half, Salvatore Ferragamo shares soared on Wednesday — a day after the company reported a challenging performance in the period.

Shares were up as much as 10% in early trading on the Italian Stock Exchange and closed up 8.03% at 13.18 euros.

Encouraging signs in Asia, Ferragamo’s main market, and comments made by executive vice chairman Norsa, who spoke on the call Tuesday evening for the first time since his arrival at the end of May, impacted the stock and the opinion of analysts.

This story was reported by WWD and originally appeared on WWD.com. To read the full story, please go to WWD.com.

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