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CDI - Christian Dior SE News Story

€402.8 3.2  0.8%

Last Trade - 26/02/20

Sector
Consumer Cyclicals
Size
Large Cap
Market Cap £60.29bn
Enterprise Value £106.41bn
Revenue £44.90bn
Position in Universe 11th / 863

BUZZ-China virus scare knocks $15 billion off European luxury stocks

Tue 21st January, 2020 8:31am
** European luxury and travel stocks slide 2% to 4% amid
growing concerns over the spread of the coronavirus in China
    ** Gucci-owner Kering  PRTP.PA , LVMH  LVMH.PA , Richemont
 CFR.S , Burberry  BRBY.L , Swatch  UHR.S  are among the top
fallers
    ** The moves wipe $15 billion off the European luxury
sector, which makes a big chunk of its sales in China and from
Chinese tourists
    ** A London-based trader says he's reminded of the SARS
virus in 2003 when luxury and travel stocks were hit hard 
    ** "Given the recent run higher this is as good a time to
take profits in the luxury sector," the trader adds
    ** In the travel & leisure sector, long-haul flight
operators Air France  AIRF.PA , Lufthansa  LHAG.DE  and British
Airways-owner IAG  ICAG.L  were worst hit, sliding more than 2%
    ** Airport retailer Dufry  DUFN.S  shares extend losses from
Monday, now down 2.5%

 (Thyagaraju Adinarayan)
 ((thyagaraju.adinarayan@tr.com; Twitter @thyagu))
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