Budget fashion firm Hennes & Mauritz (H&M) generated a slightly bigger rise than expected in sales last month, offering some support to company guidance that results in the second half of the year were likely to be stronger than in the first.

The world’s largest clothing retailer, Zara owner Inditex, posted a 32% jump in first-half year profit yesterday, taking market share in its home market Spain and grabbing new customers online and in emerging markets.