European Luxury Stocks Drop on Middle East Conflict -- Market Talk
Dow Jones03-02
0829 GMT - Shares in European luxury companies drop on tensions in the Middle East. Already grappling with lower demand and difficult market conditions in the key Chinese market, the sector faces the immediate disruption of tourism flows, which account for a significant part of luxury goods sales. Sector bellwether LVMH, the owner of brands such as Louis Vuitton and Dior, falls 4.3%. French peers Hermes and Kering trade more than 3.5% lower, while Italy's Brunello Cucinelli and Salvatore Ferragamo drop 3.9% and 3.6%, respectively. Swiss groups Richemont and Swatch fall more than 5%, while EssilorLuxottica, Burberry and Moncler also trade lower. (andrea.figueras@wsj.com)
(END) Dow Jones Newswires
March 02, 2026 03:29 ET (08:29 GMT)
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