Europe’s luxury stocks have room to rise, but are becoming costly

LONDON, Jan 31 (Reuters) – Europe’s glittering luxury companies, the region’s top stock-market performers in 2023, may see yet more gains driven by a rebound in Chinese spending, but for some the sector is starting to look expensive. The likes of French luxury giant and Louis Vuitton-owner LVMH, and Swiss jewelry company Richemont (CFR.S), have … Read more

Analysis: Europe Inc earnings season a test for market optimism

LONDON, Jan 23 (Reuters) – Europe’s upcoming corporate earnings season is likely to show whether the renewed optimism about the economy that has buoyed equities in recent weeks is grounded in reality. The pan-European STOXX index (.STOXX) is up 6% since the start of the year, hitting its highest since April after better-than-expected economic data … Read more

Luxury giant LVMH hits 400 billion euros in market value

MILAN, Jan 17 (Reuters) – LVMH (LVMH.PA) shares rose to a fresh record high on Tuesday, giving the luxury goods group a market capitalization of 400 billion euros ($434 billion) for the first time and cementing its lead as Europe’s most valuable company. Like other luxury companies which are heavily exposed to China, LVMH has … Read more

China COVID peak to last two-three months, hit rural areas next

Peak of COVID wave seen lasting 2-3 months – epidemiologist Elderly in rural areas particularly at risk People mobility indicators tick up, but have yet to fully recover BEIJING, Jan 13 (Reuters) – The peak of China’s COVID-19 wave is expected to last two to three months, and will soon swell over the vast countryside … Read more

Chinese fret over elderly as WHO warns of holiday COVID surge

2 bln trips expected over the Lunar New Year period Virus spreading from cities to vulnerable villages WHO says China’s response challenged by lack of data China’s grand reopening marred by Japan, Korea spat BEIJING, Jan 12 (Reuters) – People in China worried on Thursday about spreading COVID-19 to aged relatives as they planned returns … Read more

LVMH names new Louis Vuitton CEO, puts Arnault’s daughter in charge of Dior

Delphine Arnault to become CEO of Christian Dior Pietro Beccari to replace Michael Burke at Louis Vuitton Burke to continue working with Arnault PARIS, Jan 11 (Reuters) – LVMH (LVMH.PA) Chairman and CEO Bernard Arnault has reshuffled top management at his luxury goods empire, tightening his family’s grip with the appointment of his daughter Delphine … Read more

China imposes transit curbs for South Korea, Japan in growing COVID spat

New curbs for S.Korea, Japan nationals transiting China China says visa suspensions for South Korea, Japan “reasonable” Escalating diplomatic spat may complicate economic relations Social media users lash out at South Korea’s “insulting” COVID curbs BEIJING, Jan 11 (Reuters) – China introduced transit curbs for South Korean and Japanese nationals on Wednesday, in an escalating … Read more

Musk cashes out another $3.6 billion in Tesla stock

Sale brings Musk’s total selling to almost $40 billion Tesla stock marks lowest close in two years Investors frustrated at Musk’s selling and focus on Twitter Dec 15 (Reuters) – Tesla (TLSA.O) boss Elon Musk disclosed another $3.6 billion in stock sales on Wednesday, taking his total near $40 billion this year and frustrating investors … Read more

Elon Musk briefly loses title as world’s richest person to LVMH’s Arnault – Forbes

Dec 7 (Reuters) – Twitter owner and Tesla ( TSLA.O ) boss Elon Musk briefly lost his title as the world’s richest person on Wednesday, according to Forbes, following a steep drop in the value of his stake in the electric-car maker and a $44 billion bet on the social media firm. Bernard Arnault, the … Read more

Analysis: Out of fashion: Gucci faces daunting task to replace top designer

PARIS, Nov 25 (Reuters) – The abrupt departure from Gucci of Alessandro Michele, the flamboyant designer who was a favorite of Harry Styles and Lady Gaga, increases pressure on owner Kering ( PRTP.PA ) as it faces slowing revenue growth at the Italian fashion house. News of the creative director’s exit after seven years comes … Read more