Kering has a lot to prove with its next results as investors look eagerly for green shoots, analysts at UBS write in a note to clients ahead of 2Q results later this month. The French luxury group, owner of Gucci and other fashion brands, is aiming to turn things around after a rocky couple of years, and 2Q "will therefore be important in demonstrating progress on cost control and supporting confidence in the expected 2H acceleration," UBS says. "We remain on the sidelines awaiting clearer evidence of a sustainable recovery at Gucci," the Swiss bank adds, keeping a neutral rating on the stock. Shares are up 2.6% at 252.1 euros. (joshua.kirby@wsj.com; @joshualeokirby)