Luxury redemption passes from Richemont, Moncler jumps at Piazza Affari
Stocks in the sector are shining again, after the negative performances of the last few sessions, in the wake of the Swiss giant's surge on the Zurich Stock Exchange
1' min read
Le ultime da Radiocor
Blue economy: Urso, polo della subacquea operazione di straordinaria importanza
Borsa: Trump scuote i listini, Milano (-1,4%) argina perdite con petroliferi
Borse Cina: Hong Kong chiude a +3% grazie al tech, Shanghai cede lo 0,5%
1' min read
(Il Sole 24 Ore Radiocor) - Luxury stocks are shining again after the negative performances of recent sessions. In the wake of Richemont's surge in Zurich (+8%), Moncler topped the FTSE MIB. Positive start also for Brunello Cucinelli. Doing better are the French giants, Lvmh (+1.7%), Kering (+1.5%) and Hermes (+1.3%), which are among the best-performing stocks in the CAC 40 of Paris. The sector, which is particularly exposed to China, suffered on the eve of the disappointing Chinese GDP figure, at 30-year lows, which caused fears about growth and thus the resilience of consumption. However, the Swiss luxury group Richemont, owner of the Cartier jewellery house, among others, lifted the spirits. In fact, the third quarter of its 2023-2024 financial year closed with sales up 4% to almost EUR 5.6 billion, buoyed by the performance of the jewellery segment.
Group sales increased by 8% excluding currency effects for the period from the beginning of October to the end of December. Sales in Europe fell by 3%, mainly due to lower spending by US tourists.
