Compagnie Financiere Richemont SA

OTC Pink - Limited Information:CFRUYUnited States

Oct 30, 2024

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• DJ Compagnie Financiere Richemont S.A. Falls Wednesday, Underperforms Market, from 1:15PM ET on Wednesday Oct 30, 2024 by Dow Jones

  1:15PM ET on Wednesday Oct 30, 2024 by Dow Jones
  Companies Mentioned: CFRUY
  
  This article was automatically generated using Dow Jones technology.
  
  Shares of Compagnie Financiere Richemont S.A. shed 1.4% to CHF126.75 Wednesday on what proved to be an overall poor trading session for the stock market, with the Swiss SMI Index falling 1.1% to 11,967.70.
  

• DJ Luxury Faces Headwinds in China, But Sector Remains Compelling -- Market Talk, from 9:26AM ET on Wednesday Oct 30, 2024 by Dow Jones

  9:26AM ET on Wednesday Oct 30, 2024 by Dow Jones
  Companies Mentioned: CFRUY, LVMUY, SWGAY
  
  1326 GMT - The luxury industry faces headwinds in China, a main concern when it comes to investing in the industry, but the sector remains compelling, Berenberg analysts Nick Anderson and Harrison Woodin-Lygo write in a note. The sector has become dependent on China, as the country accounts for 22% of revenue today, according to Berenberg estimates. "There is a growing risk, however, that China faces secular, not cyclical, headwinds," the analysts say. Despite a tough backdrop, the luxury sector remains compelling, with sustained margins, strong balance sheets, high returns, and strong free cash flow conversion, they add. Berenberg initiates coverage of Brunello Cucinelli, Hermes and LVMH with a buy rating. It also starts coverage of Kering, Richemont and Moncler with a hold rating and of Swatch Group, with a sell rating. (andrea.figueras@wsj.com)