Don't bank on earnings to boost luxury names
STOXX 600 +0.3%, 1-mth high
SMI at more than 2-year peak
Energy stocks lead
Wall St futures steady
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
DON'T BANK ON EARNINGS TO BOOST LUXURY NAMES
Europe's luxury sector .STXLUXP has struggled to find a constructive catalyst in recent months and analysts at JPMorgan think the upcoming reporting season will unlikely change that narrative.
"We expect Q2/H1 24 reporting to confirm relatively soft trends for the luxury sector, broadly in line with Q1," JPM writes.
"Looking into H2, based on current newsflow and latest sector trends, we think the re-acceleration might happen at a slower pace than what is currently factored into consensus and hence that earnings revision for the sector might still be skewed to the downside."
The firm sees "material downside risk" at Swatch and Hugo Boss, and to a lesser extent LVMH, Burberry and Kering, but sees "material upside" to consensus for Prada in the second half of the year.
(Samuel Indyk)
*****
FOR FRIDAY'S EARLIER LIVE MARKETS POSTS:
SWITZERLAND AND SWEDEN CLICK HERE
ROTATION TIME CLICK HERE
MORNING BID: TOKYO'S ART OF INTERVENTION CLICK HERE
免责声明: XM Group仅提供在线交易平台的执行服务和访问权限，并允许个人查看和/或使用网站或网站所提供的内容，但无意进行任何更改或扩展，也不会更改或扩展其服务和访问权限。所有访问和使用权限，将受下列条款与条例约束：(i) 条款与条例；(ii) 风险提示；以及(iii) 完整免责声明。请注意，网站所提供的所有讯息，仅限一般资讯用途。此外，XM所有在线交易平台的内容并不构成，也不能被用于任何未经授权的金融市场交易邀约和/或邀请。金融市场交易对于您的投资资本含有重大风险。
所有在线交易平台所发布的资料，仅适用于教育/资讯类用途，不包含也不应被视为用于金融、投资税或交易相关咨询和建议，或是交易价格纪录，或是任何金融商品或非应邀途径的金融相关优惠的交易邀约或邀请。
本网站上由XM和第三方供应商所提供的所有内容，包括意见、新闻、研究、分析、价格、其他资讯和第三方网站链接，皆保持不变，并作为一般市场评论所提供，而非投资性建议。所有在线交易平台所发布的资料，仅适用于教育/资讯类用途，不包含也不应被视为适用于金融、投资税或交易相关咨询和建议，或是交易价格纪录，或是任何金融商品或非应邀途径的金融相关优惠的交易邀约或邀请。请确保您已阅读并完全理解，XM非独立投资研究提示和风险提示相关资讯，更多详情请点击 这里。
