Reported 10 days ago
European luxury-goods stocks have experienced a remarkable rebound, marking their best week since 2012. Stocks from companies like LVMH, Cartier-parent Richemont, and Hermes rose over 15% following China's pledge for increased economic stimulus. Analysts suggest that this positive impact from China is a welcome change after a prolonged decline attributed to weak demand from Chinese consumers, which had heavily affected the luxury sector.
Source: YAHOO