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Birkin handbag maker Hermes outshines rivals with big sales jump

UPDATE 3-Birkin handbag maker Hermes outshines rivals with big sales jump Adds comment on change in Chinese tastes in paragraphs 14-15, details on U.S. sales in paragraph 16 By Mimosa Spencer PARIS, July 25 (Reuters) - Birkin-bag maker Hermes HRMS.PA reported a 13% rise in second-quarter sales on Thursday, demonstrating the continued appetite from wealthy shoppers for its luxury handbags, even as less affluent consumers pull back.
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Hermes 2Q sales rise 13% on continued appetite for high-end luxury

Hermes 2Q sales rise 13% on continued appetite for high-end luxury PARIS, July 25 (Reuters) - Birkin-bag maker Hermes HRMS.PA reported a 13% rise in second-quarter sales on Thursday, demonstrating the continued appetite from wealthy shoppers for its luxury handbags, even as less affluent consumers pull back. Sales at the French luxury group grew to 3.7 billion euros ($4.02 billion), a 13% organic sales rise that strips out currency fluctuations .
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Growth angst or air pocket? Stocks nurse losses

MORNING BID AMERICAS-Growth angst or air pocket? Stocks nurse losses A look at the day ahead in U.S. and global markets from Mike Dolan The worst day for the S&P500 .SPX since 2022 and mounting central bank easing bets suggest markets' serene 'soft landing' scenario is being questioned as China growth worries and U.S. election risks mount. Even though a withering swoon in megacap tech stocks this week comes in the thick of the corporate earnings season, the incoming aggregate profit growth pictu
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European shares fall as earnings deluge disappoints

UPDATE 2-European shares fall as earnings deluge disappoints STOXX 600 down 0.7% Universal Music Group slumps as streaming growth disappoints Kering down after weak H2 forecast Besi tumbles as Q3 outlook disappoints Unilever gains after H1 profit beat Updated at 1600 GMT By Pranav Kashyap and Shashwat Chauhan July 25 (Reuters) - European shares closed lower on Thursday as a slate of downbeat earnings reports in several sectors including tech and luxury weighed, while a global run for safe haven
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Kering shares tumble after weak H2 forecast

UPDATE 2-Kering shares tumble after weak H2 forecast Kering shares fall nearly 8% Gucci's revival challenged by global luxury market downturn Top 10 luxury groups lost 230 bln euros in market value since March Adds luxury sector value decline in paragraph 4, details on new designs and analyst comment in paragraphs 11-16 By Mimosa Spencer and Dominique Vidalon PARIS, July 25 (Reuters) - Shares in Gucci owner Kering PRTP.PA fell sharply in early trade on Thursday after the French luxury goods grou
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'No light at end of tunnel' - Kering slumps to 7-yr lows on H2 guidance slash

REFILE-BUZZ-'No light at end of tunnel' - Kering slumps to 7-yr lows on H2 guidance slash Refiles to remove extraneous word in headline. ** Shares in Kering PRTP.PA plummet 8.6%, to its lowest price in 7 years, as the Gucci owner forecasts a 30% slump in H2 operating profit hit by weak demand in China ** Kering's Q2 sales fall 11% organically to 4.51 bln euros ($4.88 bln), more than the consensus expected (-9%), while H1 oper profit slumps 42% y/y ** "Another step backwards," Deutsche Bank says,
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Kering shares sink after weak H2 forecast

Kering shares sink after weak H2 forecast PARIS, July 25 (Reuters) - Kering PRTP.PA shares fell by aroud 8% in early Thursday trade after the French luxury group reported a bigger-than-expected drop in second-quarter sales and forecast a weak second half amid subdued demand from Chinese shoppers. Gucci-owner Kering said on Wednesday evening that second-half operating income could fall by around 30%, following a 42% drop in the first half to 1.6 billion euros.
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Ascential Plc, Oxford Instruments, Reckitt Benckiser

EUROPE RESEARCH ROUNDUP-Ascential Plc, Oxford Instruments, Reckitt Benckiser July 25 (Reuters) - Securities analysts revised their ratings and price targets on several European companies, including Ascential Plc, Oxford Instruments and Reckitt Benckiser, on Thursday. HIGHLIGHTS * Ascential Plc ASCL.L : HSBC raises target price to 568p from 370p * Oxford Instruments OXIG.L : HSBC raises target price to 2850p from 2500p * Reckitt Benckiser RKT.L : HSBC cuts target price to 4800p from 4900p * RS Gr
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Global equity slump set to gather momentum in Europe

LIVE MARKETS-Global equity slump set to gather momentum in Europe Welcome to the home for real-time coverage of markets brought to you by Reuters reporters. You can share your thoughts with us at markets.research@thomsonreuters.com GLOBAL EQUITY SLUMP SET TO GATHER MOMENTUM IN EUROPE The global equity retreat that has gripped markets looks set to continue in Europe on Thursday, with futures signalling a firmly negative open.
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Stock rout spreads beyond tech

LIVE MARKETS-Stock rout spreads beyond tech Welcome to the home for real-time coverage of markets brought to you by Reuters reporters. You can share your thoughts with us at markets.research@thomsonreuters.com STOCK ROUT SPREADS BEYOND TECH The global equity sell-off looks set to extend into Europe on Thursday although the region may be spared the carnage in parts of Asia, where Japan's Nikkei .N225 tumbled as much as 3% and Hong Kong's Hang Seng .HSI slumped close to 2%.
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French and Benelux stocks-Factors to watch

French and Benelux stocks-Factors to watch July 25 (Reuters) - Below are company-related news and stories from France and Benelux which could have an impact on the region's markets or individual stocks. MICHELIN MICP.PA : Michelin reported sales for H1 at 13.48 billion euros, slightly below expectations. RENAULT RENA.PA : Renault published H1 operating at 2.18 billion euros, above consensus, and maintained 2024 outlook.
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Stock rout spreads beyond tech

REFILE-MORNING BID EUROPE-Stock rout spreads beyond tech Corrects story links, no changes to text A look at the day ahead in European and global markets from Kevin Buckland The global equity sell-off looks set to extend into Europe on Thursday although the region may be spared the carnage in parts of Asia, where Japan's Nikkei .N225 tumbled as much as 3% and Hong Kong's Hang Seng .HSI slumped close to 2%.
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Gucci-owner Kering forecasts 30% fall in H2 operating profit on sluggish China demand

UPDATE 3-Gucci-owner Kering forecasts 30% fall in H2 operating profit on sluggish China demand Adds shares in paragraph 7 By Mimosa Spencer PARIS, July 24 (Reuters) - Kering PRTP.PA reported a bigger-than-expected drop in second-quarter sales and forecast a weak second half, as the French luxury group works to revive its key label Gucci while facing subdued demand from Chinese shoppers.
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Kering posts 11% drop in Q2 sales, sees weak second half

Kering posts 11% drop in Q2 sales, sees weak second half PARIS, July 24 (Reuters) - Kering PRTP.PA reported a bigger-than-expected drop in second-quarter sales and forecast a weak second half, as the French luxury group struggles to revive its key label Gucci and worries grow about a prolonged downturn in high-end spending. Sales at the French luxury group which owns labels Gucci, Boucheron and Balenciaga, fell to 4.5 billion euros ($4.9 billion), an 11% drop on an organic basis, which strips ou
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French luxury’s China pain may be more evenly felt

BREAKINGVIEWS-French luxury’s China pain may be more evenly felt The author is a Reuters Breakingviews columnist. The opinions expressed are his own. By Pierre Briancon LONDON, July 24 (Reuters Breakingviews) - France’s luxury Big 3 fear catching “a stray bullet ” if the scuffle between the European Union and China over electric car subsidies escalates.
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European shares end lower as earnings whirlwind disappoints

UPDATE 2-European shares end lower as earnings whirlwind disappoints For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window LVMH Q2 sales miss estimates, shares fall Deutsche Bank down after reporting first loss in 4 years Euro zone HCOB's PMI drops to 50.1 STOXX 600 down 0.6% Updated at 1600 GMT By Pranav Kashyap, Shristi Achar A and Shashwat Chauhan July 24 (Reuters) - European shares closed lower on Wednesday, dampened by luxury stocks after
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European stocks drop, luxury lags

LIVE MARKETS-European stocks drop, luxury lags STOXX 600 down 0.8% LVMH earnings drag luxury sector lower Upbeat easyJet results lifts travel & leisure Start of 'Mag 7' earnings disappoints Wall St futures lower Welcome to the home for real-time coverage of markets brought to you by Reuters reporters. You can share your thoughts with us at markets.research@thomsonreuters.com EUROPEAN STOCKS DROP, LUXURY LAGS Europe's luxury sector led a decline in major markets on Wednesday after disappointing r
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Luxury stocks sell off again as LVMH posts below-bar Q2 earnings

BUZZ-Luxury stocks sell off again as LVMH posts below-bar Q2 earnings Recasts with sector performance, adds peers, milestones, updates shares ** Expectations-missing Q2 results from luxury giant LVMH, a bellwether for the sector, weigh on peers , already under pressure after weak Burberry and Richemont prints ** LVMH results confirm "even best-in-c
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LVMH shares drop after missing second-quarter estimates

UPDATE 2-LVMH shares drop after missing second-quarter estimates LVMH shares drop as much as 6.5% in early trade Q2 sales rose 1% to 20.98 bln euros vs forecast 21.6 bln Shares in Hermes, Kering dragged lower Recasts paragraph 1, adds analyst comments in 6-10, 15 By Mimosa Spencer and Dominique Patton PARIS, July 24 (Reuters) - Shares in LVMH LVMH.PA fell as much as 6.5% in early Wednesday trade and were on track for their biggest one-day drop since October 2023 after second-quarter sales growth
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LVMH shares slump 4% after missing Q2 estimates

LVMH shares slump 4% after missing Q2 estimates PARIS, July 24 (Reuters) - Shares in French luxury giant LVMH LVMH.PA dropped more than 4% at the market open on Wednesday after the company reported second-quarter sales growth below consensus estimates. The world's biggest luxury group said on Tuesday its quarterly sales rose 1% year on year to 20.98 bln euros ($22.76 bln), undershooting a poll by LSEG analysts for 21.6 billion.
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