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STOCKS NEWS EUROPE-PPR sheds 3.5 pct after results

Wed Oct 21, 2009 3:20am EDT

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Shares in French retailer PPR (PRTP.PA) drop 3.5 percent to the bottom of the CAC 40 index .FCHI after the owner of the luxury brand Gucci posts third-quarter sales that are slightly below forecasts.

"Third-quarter sales were lower than expected, with a poor performance from the luxury goods division, penalised by the wholesale business and tourist purchases," a Paris-based trader says.

PPR's sluggish results also weigh on shares of other luxury groups, with Christian Dior (DIOR.PA) down 2.9 percent and LVMH (LVMH.PA) down 1.6 percent.

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Reuters Messaging rm://blaise.robinson.reuters.com@reuters.net


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