Over the past 12 months, shares have risen around 31%.

Kering jumped after recording a rise in revenue, seeking to turn a page after years of weak demand for its upscale brands. The French luxury group booked revenue of 3.65 billion euros ($4.16 billion) for the second quarter, a 1% increase YoY in reported terms. Excluding currency and portfolio changes, revenue was up 2%. Analysts had forecast revenue of 3.63 billion euros per a Visible Alpha poll.

The company’s flagship label Gucci reported sales of 1.41 billion euros, down 2% organically YoY. While still lower, the decline was better than the 5% drop expected by analysts.

The surge reflects renewed investor confidence as the group recovers from weak demand, with Kering and Gucci both showing modest growth and outperforming expectations.