0800 GMT - European luxury companies fall at market open after U.S. President Trump's tariffs announcement. Luxury and sporting-goods companies are at great risk of their profit margins shrinking as a result of the tariffs, which are more severe than expected, RBC Capital Markets analyst Piral Dadhania says in a research note. The bank estimates elevated tariff impact for Burberry and Swatch, while LVMH and Moncler are the least exposed. The biggest fallers at market open include Prada and Richemont, dropping 4%, and Burberry and Swatch down 3.8%. Shares in Ray-Ban maker EssilorLuxottica lose 5.2%. (maitane.sardon@wsj.com)
(END) Dow Jones Newswires
April 03, 2025 04:00 ET (08:00 GMT)
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