It's a roller coaster Friday for the european luxury. In fact, after a positive start to the session, most of the shares retreated to the red.
Preliminary indications on the quarter's data had triggered the first wave of purchases Richemont and Burberry.
In particular, the Swiss giant closed the first half of the 2021/2022 financial year with a turnover of 4,397 billion euros, even 121% more than in the same period last year and 19% more than the first semester of 2019.
As for Burberry, in the first quarter of the year (ended June 26) the British group achieved retail sales of 479 million pounds, an increase of 86% on an annual basis. On a comparable basis (i.e. considering the same number of stores) the growth was 90% compared to 2020, but only 1% compared to 2019.
We come to the Stock Exchange, where fears related to the spread of the Delta variant prevail, which threatens to jeopardize the economic recovery throughout Europe. After starting the session in Zurich with +1,7%, Richemont shares retraced, slipping into negative ground by mid-morning (-0,3%). Things are even worse at Burberry, which collapses by 3% on the London list.
At Piazza Affari, Moncler it opened the session leading the Ftse Mib with +1,3%, but then slipped to the bottom of the list (-1,6%).
Still in Milan, Salvatore Ferragamo loses 1,2% e Tod’s 2%, while Brunello Cucinelli salt of 0,5%.
In Paris, Hermes slips of 0,16% and the giants of the sector lvmh e Kering they rose slightly, respectively by 0,15% and 0,27%. The latter two titles continue to be Equita's favorites in the luxury sector.
