Shares in luxury goods makers feature among the top losers in Europe on
Monday after Swiss watch maker Richemont warns that sales growth has
ground to a halt in Asia, reviving worries about the outlook for the sector.
"Asia Pacific is the slowest growing region this quarter, highlighting the
impact of the cautious approach from retailers in the quarter, while Europe and
the Americas did ok. There's a negative read-across for the sector, particularly
for hard luxury players," a Paris-based trader says.
Richemont drops 5 percent, Swatch Group is down 2.3 percent,
Burberry down 1.4 percent, LVMH down 1.2 percent and
Christian Dior down 1.2 percent.
For more on Richemont results, click on:
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