1057 GMT - Luxury sector faces an uncertain backdrop, which will be a drag on spending on high-end goods and sentiment for the remainder of 2025, Deutsche Bank analysts write in a note. A weak performance of stock markets globally coupled with the broader economic uncertainty will weigh on consumer confidence, analysts say. This is likely to postpone a recovery in luxury demand, they say. Furthermore, the potential trade war between the U.S. and China might create further headwinds for the two largest global economies and regions of luxury growth, Deutsche says. The German bank upgrades Hermes to buy from hold due to its brand strength in a challenging environment for the overall sector, but downgrades Kering and Richemont to hold from buy. (andrea.figueras@wsj.com)
(END) Dow Jones Newswires
April 09, 2025 06:57 ET (10:57 GMT)
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