1222 GMT - Donald Trump's win in the U.S. elections could prompt several tailwinds for the luxury sector, UBS analysts write in a research note. Possible positive impacts include lower taxes and associated wealth effect, they say. This, together with a potential rally in the U.S. stock market, which has historically been the most influential factor for luxury-goods demand in the country, could improve consumer sentiment in the U.S. and support organic sales growth in 2025, the analysts add. Shares in LVMH, Hermes, Moncler and Richemont jump more than 2%. Hugo Boss, Burberry and Kering trade more than 4% higher. (andrea.figueras@wsj.com)
(END) Dow Jones Newswires
November 07, 2024 07:22 ET (12:22 GMT)
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