BLUE chip fashion firm Burberry saw shares power ahead yesterday after hailing a “standout season” following impressive sales of its spring/ summer collection.

The luxury goods group was the top riser on the FTSE 100 Index as shares leapt five per cent higher, although the wider market eased back from recent strong gains after disappointing Chinese trade data and ongoing jitters surrounding the eurozone and outlook for the US’s asset purchase programme.

London’s top tier closed 8.1 points lower at 6505, dragged lower by miners amid concerns over demand from a weakened Chinese economy.

Sentiment was also affected as agency Standard & Poor’s cut its rating on Italy by one notch to BBB due to the country’s weaker economic outlook.

On Wall Street, the Dow Jones Industrial Average struggled to make headway in early trading as attention was focused on minutes of the most recent Federal Reserve meeting, with traders again looking for clues on when policymakers will begin to taper their quantitative easing programme.

The pound, which has sunk to a three-year low against the greenback after disappointing manufacturing figures, regained its poise, edging up to 1.49 US dollars and holding firm at 1.16 euros.

At Burberry, comparable store sales were up 13 per cent in the three months to June 30 as the company continues to defy the difficult economic conditions in many markets.

Shares jumped 69p to 1509p after its high-end Prorsum fashion range and accessories such as Blaze and Orchard bags proved a hit with shoppers.

Other retail stocks on the front foot included Tesco after analysts at Exane BNP Paribas said the supermarket’s attempts to refresh its food offer were gathering pace.