La chinese bubble which knocked out the Asian stock exchanges, and in particular those of Shanghai, Shenzhen and Hong Kong, is putting Italian luxury stocks, which have been doing business in the Far East for some time, in trouble. Over 30 percentage points lost by the three lists in the last month.
As a consequence, the Italian luxury stocks listed on Piazza Affari are also suffering from the Chinese difficulties. And the one who pays the most is the title of Salvatore Ferragamo than at 11,30 today leaves 4,4% on the ground. In the last week the Ferragamo title has lost more than 10% of its value on the stock exchange. Ferragamo's link with the collapse of the Chinese stock exchanges can be explained above all because it must be considered that a share of between 20% and 25% of the turnover of the Florentine maison is linked precisely to the Chinese market.
Difficult morning in Piazza Affari also for the Tod's stock. The Della Valle family group loses 2,72% falling below 80 euros per share. Complicated day also for Geox (-1,13%) and Brunello Cucinelli who recorded -1,31%. Moncler (-0,20%) and Yoox (-0,37%) defend themselves but remain in negative territory.
