Big Luxury: don't expect fireworks this season
STOXX 600 down 0.6%
Miners, luxury lag
Hong Kong stocks sink
Wall St futures higher
Welcome to the home for real-time coverage of markets brought to you by Reuters reporters. You can share your thoughts with us at markets.research@thomsonreuters.com
BIG LUXURY: DON'T EXPECT FIREWORKS THIS SEASON
Luxury stocks have been on a roller-coaster in recent weeks, whipsawed by the mood swings around stimulus measures in China possibly reversing a spending slowdown in this key market.
Now that valuations have cooled to near long-term averages, investors are weighing whether it's time to jump back in. But with earnings season just around the corner, analysts aren't expecting any major catalysts to shake things up.
The real focus will clearly be on China, where any hint of stimulus-fueled spending boosts will be closely watched, yet analysts keep advising for caution.
"We expect Q3 24 reporting to confirm muted trends for the luxury sector, with growth broadly in line with Q2 despite easing comps," write J.P.Morgan analysts.
"Luxury fundamentals might remain challenged into year end, with 2025, especially H1, potentially another period of relatively more subdued growth," they add.
RBC is similarly unexcited about the sector's short-term prospects.
"We do not envisage a near term change in consumption trends in China as a result of these stimulus measures given the nature of the category (highly discretionary)," they wrote.
Sector heavyweight LVMH LVMH.PA releases revenue figures next week on Tuesday.
*****
FOR TUESDAY'S OTHER LIVE MARKETS POSTS:
EUROPE FLASHING RED AS LUXURY, MINERS AND HOMEBUILDERS DROP CLICK HERE
EUROPEAN FUTURES FAIL TO TRACK CHINA'S RALLYING OPEN CLICK HERE
CHINA STOCK FRENZY GETS A WET BLANKET CLICK HERE
免责声明: XM Group仅提供在线交易平台的执行服务和访问权限，并允许个人查看和/或使用网站或网站所提供的内容，但无意进行任何更改或扩展，也不会更改或扩展其服务和访问权限。所有访问和使用权限，将受下列条款与条例约束：(i) 条款与条例；(ii) 风险提示；以及(iii) 完整免责声明。请注意，网站所提供的所有讯息，仅限一般资讯用途。此外，XM所有在线交易平台的内容并不构成，也不能被用于任何未经授权的金融市场交易邀约和/或邀请。金融市场交易对于您的投资资本含有重大风险。
所有在线交易平台所发布的资料，仅适用于教育/资讯类用途，不包含也不应被视为用于金融、投资税或交易相关咨询和建议，或是交易价格纪录，或是任何金融商品或非应邀途径的金融相关优惠的交易邀约或邀请。
本网站上由XM和第三方供应商所提供的所有内容，包括意见、新闻、研究、分析、价格、其他资讯和第三方网站链接，皆保持不变，并作为一般市场评论所提供，而非投资性建议。所有在线交易平台所发布的资料，仅适用于教育/资讯类用途，不包含也不应被视为适用于金融、投资税或交易相关咨询和建议，或是交易价格纪录，或是任何金融商品或非应邀途径的金融相关优惠的交易邀约或邀请。请确保您已阅读并完全理解，XM非独立投资研究提示和风险提示相关资讯，更多详情请点击 这里。
