STOCKS NEWS EUROPE-Inditex rises on rivals' results

Shares in Spanish clothing retailer Inditex (ITX.MC) rise 3.7 percent, hitting a 22-month high, after British rivals Marks & Spencer (MKS.L) and Next (NXT.L) post better-than-forecast earnings.

"Both Marks & Spencer and Next have posted good results and underpin Inditex's business model. The recession is not hitting the company's sales too hard and it is increasing market share at the expense of smaller chains more exposed to the crisis," a Madrid-based analyst says.

Inditex is one of the top gainers on the Ibex leading share index .IBEX.

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