Luxory Stocks Fluctuate on European Markets

Despite the recent comforting news of increased expenditure for luxury goods in the United States, manufacturers have been impacted by significant downturns on many European stock markets. The most heavily affected was the Richemont group (shares belonging to the second luxury group in the world which controls Cartier, Montblanc and Chloé) which closed in Zurich at 38.45 Swiss francs, losing 6.79%. Bulgari shares also fell sharply on Piazza Affari (Mibtel index -2.29%) closing at 7.40 Euros, equal to -3.72%. Luxottica posted a bad -3.8% on the Italian stock market. By contrast, there was a positive performance by Tod's (+1.18%) and Basicnet (+26.39%) which continues to have a positive trend.

The situation was the same on the Paris stock exchange. Lvmh fell by 4.16%, Christian Dior 3.87% and L'Oreal 1.70%. Adidas-Salomon (-3.15%) and Hugo Boss (-2.41%) also fell in Frankfurt.
Good news from Wall Street for the Italian companies Fila (+11.16%) and De Rigo (+5.18%).