1615 GMT - European luxury companies trade lower as investors process the impact of Donald Trump's U.S. election win, Morningstar analyst Jelena Sokolova says. "Tariffs on Chinese goods could be a negative for an already quite fragile market," the analyst says. Potential trade tensions between U.S. and China could further dampen weak Chinese consumer sentiment and complicate the recovery of the country's macroeconomic environment. This could pose a risk to the sector's recovery, UBS analysts said after the election result. Shares in a number of luxury names including French behemoth LVMH, Gucci owner Kering and Birkin bag maker Hermes are down more than 3%. Cartier owner Richemont, Moncler and trade more than 2% lower, while shares in Burberry fall 6%. (andrea.figueras@wsj.com)
(END) Dow Jones Newswires
November 12, 2024 11:15 ET (16:15 GMT)
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