European Luxury Stocks Trade Down on Lack of Chinese Stimulus Clarity -- Market Talk

Dow Jones10-14

0759 GMT - Shares in European luxury stocks are down in early morning trade after China's finance ministry didn't outline measures to support domestic consumption in Saturday's press conference. The lack of immediate stimulus means Bernstein maintains a cautious stance on 2024 luxury consumption, analysts write in a research note. Kering was the largest faller, trading down 3% at 231.90 euros a share followed by LVMH Moet Hennessy Louis Vuitton, which is down 2.31% at 638 euros a share. Swatch Group trades 2.2% lower at 178 euros, Salvatore Ferragamo is down 1.87% at 6.55 euros, Hermes is 1.36% lower at 2,103 euros a share, Compagnie Financiere Richemont trades 1.29% lower at 129.70 euros and Moncler is down 1.17% at 53.96 euros. (adam.whittaker@wsj.com)

(END) Dow Jones Newswires

October 14, 2024 04:00 ET (08:00 GMT)

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