European Luxury Shares Claw Back Some Losses on Hopes of End to Iran War -- Market Talk

Dow Jones04-17

1346 GMT - Shares in European luxury names pare some of the week's losses after Iran said the Strait of Hormuz was open, raising hopes of an end to the conflict. The U.S. and Israel's war on Iran has hit sales of luxury goods in the Persian Gulf and weighed on the international travel key to sales of high-end goods, sending share prices lower this week. News of the possible resolution, announced by Iran's chief diplomat amid an end to Israeli attacks on Lebanon, drives shares in handbag maker Hermes 5.2% higher, while Italian peer Salvatore Ferragamo leads Friday's rise with a 6.6% increase. Sector leader LVMH's shares rise 3.3%, those in Gucci owner Kering gain 3.4%, Italy's Brunello Cucinelli rises 4.9%, while Swiss groups Richemont and Swatch rise 4.3% and 3,7%, respectively. (joshua.kirby@wsj.com; @joshualeokirby)

(END) Dow Jones Newswires

April 17, 2026 09:46 ET (13:46 GMT)

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