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Richemont


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Berenberg picks Brunello Cucinelli, Hermès and LVHM in luxury sector initiation

BUZZ-Berenberg picks Brunello Cucinelli, Hermès and LVHM in luxury sector initiation ** Berenberg starts coverage of seven European luxury goods companies, saying it favours "buy"-rated absolute and soft luxury firms Brunello Cucinelli, Hermès and LVMH, while advocating a "defensive stance" ** With the market growth set to moderate, market share
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Clariant, M6, Ucb

EUROPE RESEARCH ROUNDUP-Clariant, M6, Ucb Oct 30 (Reuters) - Securities analysts revised their ratings and price targets on several European companies, including Clariant, M6, and Ucb, on Wednesday. HIGHLIGHTS * Adidas AG ADSGn.DE : Deutsche Bank raises target price to EUR 275 from EUR 270 * Clariant AG CLN.S : JP Morgan cuts target price to CHF 14 from CHF 15 * M6 MMTP.PA : JP Morgan cuts target price to EUR 13.1 from EUR 13.7 * Nel ASA NEL.OL : Morgan Stanley cuts to underweight from equal wei
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Glencore, Knaus Tabbert, LSE

EUROPE RESEARCH ROUNDUP- Glencore, Knaus Tabbert, LSE Oct 28 (Reuters) - Securities analysts revised their ratings and price targets on several European companies, including Glencore, Knaus Tabbert and LSE, on Monday. HIGHLIGHTS * Glencore Plc GLEN.L : HSBC raises to buy from hold * Knaus Tabbert AG KTAG.DE : Jefferies cuts to hold from buy * LSE LSEG.L : RBC raises target price to 11,600p from 11,000p * Suzano SUZB3.SA : HSBC raises to buy from hold * Veolia VIE.PA : RBC initiates coverage with
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Some companies change tack in China with no recovery in sight

ANALYSIS-Some companies change tack in China with no recovery in sight Executives downbeat about China early in Q3 earnings season Property crisis, youth unemployment remain a problem Beijing has pledged stimulus, investors say may not be enough China Q3 GDP slowest since early 2023 By Bernadette Hogg, Ananya Mariam Rajesh and Helen Reid GDANSK/BENGALURU/LONDON, Oct 28 (Reuters) - Companies around the world are starting to cut prices and costs and scale back activity in China, as the world's sec
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Europe's STOXX 600 ends week higher as tech stocks rebound

UPDATE 2-Europe's STOXX 600 ends week higher as tech stocks rebound For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window. Luxury stocks aid gains on France's CAC 40 Elisa slumps on unexpected Q3 revenue fall Goldman Sachs slashes STOXX 600 2024 earnings growth forecast STOXX 600 up 0.2% Updated at 1602 GMT By Paolo Laudani, Ankika Biswas and Johann M Cherian Oct 18 (Reuters) - Europe's STOXX 600 ended higher on Friday, as tech stocks made a s
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GS cuts Richemont to 'neutral', says macro headwinds weigh on operating margin

BUZZ-GS cuts Richemont to 'neutral', says macro headwinds weigh on operating margin ** GS cuts Swiss luxury goods group Richemont CFR.S to "neutral" from "buy", citing macro headwinds weighing on operating margin ** Although the broker likes the long-term growth opportunity supported by the Jewellery Maisons division, the company is "not immune" to
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Adidas, Bellway, Nestle

EUROPE RESEARCH ROUNDUP- Adidas, Bellway, Nestle Oct 18 (Reuters) - Securities analysts revised their ratings and price targets on several European companies including Adidas, Bellway, and Nestle, on Friday. HIGHLIGHTS * Adidas AG ADSGn.DE : Baader Helvea raises to add from reduce * Bellway Plc BWY.L : Peel Hunt cuts to hold from add * Danone DANO.PA : Morgan Stanley cuts to equal weight from overweight * Greencore GNC.L : Deutsche Bank raises to hold from sell * Nestle SA NESN.S : Jefferies cut
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Swiss trade surplus at CHF 4.946 bln in September

TABLE-Swiss trade surplus at CHF 4.946 bln in September Oct 17 (Reuters) - Switzerland ran a merchandise trade surplus of 4.946 billion Swiss francs in September, the Federal Customs Office said on Thursday. KEY FIGURES (millions of Swiss francs) September 2024 August 2024 Imports 17.579 15.905 Exports 22.526 20.649 Balance 4.946 4.744 The figures exclude precious metals and stones, works of art and antiques.
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European tech, luxury stocks tumble as ASML, LVMH results disappoint

UPDATE 2-European tech, luxury stocks tumble as ASML, LVMH results disappoint For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window. France's CAC 40 underperforms peers on luxury drag Adidas drops amid broader selloff despite third 2024 outlook Spain's IBEX closes at highest since January 2010 ECB's interest rate decision due on Thursday Updated at 1600 GMT By Paolo Laudani, Ankika Biswas and Johann M Cherian Oct 16 (Reuters) - Europe's STOXX
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European luxury stocks fall as LVMH miss hints to further setbacks

BUZZ-European luxury stocks fall as LVMH miss hints to further setbacks ** Shares in European luxury names fall after heavyweight LVMH LVMH.PA reported weaker than expected Q3 sales ** "LVMH Q3 trading update failed to reassure, suggesting that trends are actually softer than feared," J.P.Morgan says ** JPM points to a "material" slowdown at LVMH's
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LVMH shares slump on weak Q3 sales, hitting luxury sector

LVMH shares slump on weak Q3 sales, hitting luxury sector PARIS, Oct 16 (Reuters) - Shares in LVMH LVMH.PA slumped lower on Wednesday, knocking back the broader luxury goods sector, after the French luxury goods giant reported a 3% fall in third-quarter sales . LVMH shares were down around 7 percent in early session trading. Shares in its French rival Kering PRTP.PA , whose brands include Gucci, and Burberry BRBY.L were also dragged down as LVMH slid on the stock market.
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LVMH shares set to slump on weak Q3 sales

LVMH shares set to slump on weak Q3 sales PARIS, Oct 16 (Reuters) - Shares in LVMH LVMH.PA were set to slump lower on Wednesday, knocking back the broader luxury goods sector, after the French luxury goods giant reported a 3% fall in third-quarter sales . LVMH shares were marked down by 5.1 percent on Tradegate, just before the formal start of stock market trading in Europe.
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LVMH investors jittery over anaemic China demand for European designer goods

PREVIEW-LVMH investors jittery over anaemic China demand for European designer goods By Mimosa Spencer PARIS, Oct 14 (Reuters) - Investors in French luxury group LVMH LVMH.PA are eager for signs that China's new fiscal stimulus measures can finally pull wealthy and middle-class Chinese shoppers out of their funk, inspiring them to splash out on $4,300 designer leather handbags ahead of Singles Day , China's largest annual shopping spree.
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Richemont exits online hell, but heaven is way off

BREAKINGVIEWS-Richemont exits online hell, but heaven is way off The author is a Reuters Breakingviews columnist. The opinions expressed are her own. By Karen Kwok LONDON, Oct 9 (Reuters Breakingviews) - Johann Rupert has finally found a way to cut his losses. The Richemont CFR.S boss on Monday said he was selling online luxury platform Yoox Net-A-Porter (YNAP) to German player Mytheresa, in exchange for a 33% stake in the buyer.
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Deals of the day-Mergers and acquisitions

Deals of the day-Mergers and acquisitions Adds: Nissan, Duckhorn, Blue Owl, Heidelberg, Arcadium Updates: Chevron, Barnes Group Oct 7 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 14 17 GMT on Monday: * * Japan's Nissan Motor 7201.T said on Monday it would invest an undisclosed amount in ChargeScape and roll out the battery charging technology company's services to its electric-vehicle drivers across the United States and Canada.
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Deals of the day-Mergers and acquisitions

Deals of the day-Mergers and acquisitions Oct 7 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 1050 GMT on Monday: ** IT firm Atos ATOS.PA is still aiming to reach a deal with the French state on the sale of its most strategic activities such as cybersecurity and super-computing, it said on Monday, after an initial government offer expired.
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European stocks eke out small gains, Orsted shines

UPDATE 2-European stocks eke out small gains, Orsted shines For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window. ECB seen cutting rates again in Oct Luxury stocks rise on China optimism German economy to contract in 2024, econ ministry says STOXX closes up 0.1% Updated at 1615 GMT By Sruthi Shankar, Paolo Laudani and Johann M Cherian Oct 7 (Reuters) - European stocks eked out marginal gains on Monday, with Orsted topping the STOXX index as
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Richemont rises after Yoox Net-A-Porter sale announcement

BUZZ-Richemont rises after Yoox Net-A-Porter sale announcement ** Shares in Cartier-owner Richemont CFR.S rise 1.8% after the Swiss company announced a deal to sell its Yoox Net-A-Porter (YNAP) online fashion and accessories business ** "Overall, we see the announcement as positive for the sentiment, although we estimate the impact on Richemont to
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European futures inch higher

LIVE MARKETS-European futures inch higher Welcome to the home for real-time coverage of markets brought to you by Reuters reporters. You can share your thoughts with us at markets.research@thomsonreuters.com EUROPEAN FUTURES INCH HIGHER European shares were set for a slightly higher start on Monday, following gains in Asia on Friday's strong U.S. jobs report and as investors kept pondering the implications of a Chinese recovery on the back of Beijing's stimulus measures.
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Richemont offloads online retailer Yoox Net-A-Porter to Mytheresa

UPDATE 2-Richemont offloads online retailer Yoox Net-A-Porter to Mytheresa Sale ends Richemont's search for buyer Mytheresa CEO confident company can improve the business Richemont shares gain after deal announced Adds details, share price, analyst, executive comment from paragraph 3 By John Revill ZURICH, Oct 7 (Reuters) - Cartier owner Richemont CFR.S has agreed to sell its loss-making Yoox Net-A-Porter online fashion and accessories business to Mytheresa 0FVy.MU , ending the search for a new
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