European luxury stocks find respite in easing Middle East conflict

Kering SA

06/08/2026 09:03

** Shares in European luxury groups jump after progress in talks to help end five months of ​war between the U.S. and Iran
** The sector is very sensitive to news about the conflict and is tracking Hong Kong-listed jewellery companies which rose sharply on Thursday, Berenberg analyst Nick Anderson says
** By around 08:00 GMT the European luxury index .STXLUXP is up 1.7%, outperforming the pan-European STOXX 600 index .STOXX, which rises 0.4% 
** Hermes HRMS.PA shares rise 4.1%, extending their rebound from an 11% post-earnings drop on July 29
** Kering PRTP.PA, LVMH LVMH.PA, Brunello Cucinelli BCU.MI, Ferragamo SFER.MI, Moncler MONC.MI are up between 1.3% and 2.4%
** Spirits makers Pernod Ricard PERP.PA, Remy Cointreau RCOP.PA and Diageo DGE.L also rise 0.9% to 2.1% 
** Hong-Kong listed Laopu Gold 6181.HK and Chow Tai Fook 1929.HK closed 3% and 3.6% higher

(Reporting by Alessandro Parodi in Gdansk, editing by)
((Alessandro.Parodi@thomsonreuters.com;))