Luxuries Volatility Driven by Hedge-Fund Maneuvering -- Market Talk

Dow Jones01-09

1204 GMT - Volatility in European luxury stocks could be driven by hedge-fund repositioning conflicting with new flows into the sector, Bernstein analyst Luca Solca says. Institutionals are seeking assurance that Chinese consumer confidence is returning and might pull back from luxury stocks after recent strong performances, Solca says. Shares in luxury stocks are up across Europe, with Kering and Hermes--up 2.7% and 2.6%, respectively--leading. LVMH and Brunello Cucinelli both rise around 2%. Recent growth for Kering--which owns Gucci and Alexander McQueen, among others--is largely driven by balance-sheet restructuring, Solca says, with forward growth a bigger challenge. "Reviving brands will not be done overnight." (josephmichael.stonor@wsj.com)

(END) Dow Jones Newswires

January 09, 2026 07:04 ET (12:04 GMT)

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Institutionals are seeking assurance that Chinese consumer confidence is returning and might pull back from luxury stocks after recent strong performances, Solca says. Shares in luxury stocks are up across Europe, with Kering and Hermes--up 2.7% and 2.6%, respectively--leading. LVMH and Brunello Cucinelli both rise around 2%. 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