Lates News

Luxury goods stocks were one of the worst performing sectors in Europe on Thursday. Berenberg analysts warned that industry data "clearly indicates" that demand is under pressure. Watchmakers were also impacted by a sharp decline in Swiss watch exports in May. The Goldman Sachs European Luxury Basket index fell 1.8%, hitting its lowest level since April 24th. Richemont Group fell by 2.2%, LVMH by 1.3%, Hermes by 1.7%, L'Oreal by 0.96%, Kering Group by 2.8%, Moncler by 2.4%, Pandora by 1.7%, and Burberry by 4.2%.