Ongoing weakness in Asian demand Spirits sales especially poor -17% Diageo owns 34% of Moet-Hennessy Investors hoping for a rebound in luxury stocks faced disappointment after France's LVMH (MC:EPA) posted weaker-than-expected first-quarter sales due mainly to softer demand in Asia. LVMH shares fell €35 or 7% to a four-year low of €495, dragging with them shares in British luxury...

Defensives hold up in sell-offNew appetite for growth stocksBanks unable to shake off lossesAs the dust settles from the three-day 'Liberation Day'-inspired sell-off, the list of winners and losers makes for interesting reading.Not everything which held up during the market meltdown is being sold off, and not everything which racked up big losses is rebounding, unlike in previous recoveries,...

Following a tumultuous two-and-a-half year period in which the stock price plunged, Watches of Switzerland's (WOSG) shares have rallied the best part of 40% in six months with the UK luxury watch and jewellery markets having bottomed out and US market share gains exciting investors.Having spooked investors with a profit warning at the turn of the year, the absence of any further shocks from...

The FTSE-100 index was down on midday Thursday as fragile consumer confidence hurt Frasers Group and UK housebuilding activity declined at its sharpest pace since the summer.The FTSE 100 index fell 3.86 points at 8,331.95. The FTSE 250 eased 13.28 points, 0.1%, at 20,991.87, and the AIM All-Share dropped 1.67 points, 0.2%, at 736.54.The Cboe UK 100 was slightly higher at 837.15, the Cboe UK...

First-half pre-tax profit downBut EBIT beats forecasts'Strong start' to Christmas quarterShares in Watches of Switzerland (WOSG) rallied 8% to 540p after the luxury timepiece retailer clocked up better-than-feared first-half earnings and left full-year 2025 guidance unchanged, drawing confidence from recently-improved sales momentum and some large showroom openings to come.There was relief...

Shares in luxury timepiece retailer Watches of Switzerland's (WOSG) got a modest boost on news it had acquired publishing firm-to-luxury watch platform Hodinkee.The purchase of a media company by a retailer might look a bit odd at face value. However, the Patek Philippe-to-Audemars Piguet seller clearly believes that by doing so it can accelerate online growth and grab a greater share of...

Luxury watch enthusiast site acquiredDeal to drive online and US growth'Undisputed destination' for luxury watch enthusiastsWatches of Switzerland's (WOSG) shares ticked up 2% to 466p on news it has acquired publishing firm-to-luxury watch platform Hodinkee as the Patek Philippe-to-Audemars Piguet seller seeks to accelerate online growth and grab a greater share of America's expanding high-end...

Strong demand in UK and USUK luxury watch market stabilisedOn track to deliver FY25 guidanceWhile the broader global luxury market continues to slow, Watches of Switzerland (WOSG) believes the market for high-end timepieces and jewellery has bottomed out in the UK.Shares in the Rolex, Patek Philippe and Audemars Piguet purveyor rallied 11.3% to 419p on a reassuring trading update in which the...

Stock prices in Europe opened in the green on Tuesday morning, with investors awaiting a manufacturing PMI print from the US later in the day.The FTSE 100 index opened 6.38 points, or 0.1%, at 8,370.22. The FTSE 250 was up 34.51 points, or 0.2%, at 21,015.02, and the AIM All-Share was up 1.94 points, or 0.3%, at 768.84.The Cboe UK 100 was up 0.1% at 837.86, the Cboe UK 250 was up 0.1% at...

Defence and banks stocks top tableM&A wave creates big winnersConsumer stocks on the skidsIt hasn't been a vintage year for the UK stock market, but there are signs investors are coming back attracted by the cheap valuations on offer compared with the US as well as decent earnings prospects for UK companies.The FTSE 350 index is up 5.5% year-to-date, with the FTSE 100 large-cap benchmark up...

Luxury watch retailer Watches of Switzerland (WOSG) is one of the worst performers in the mid-cap FTSE 250 index over the last six months, with its shares falling by around a third.The bulk of the share price losses came in January after the timepiece retailer downgraded full year 2024 revenue guidance by 8% at the mid-point of the range and reduced operating margin expectations to a range of...

Shares leap on trading updateSales improve in final quarterChief executive expresses optimismWatches of Switzerland?s (WOSG) shares surged 11% to 374.5p on a reassuring fourth-quarter update in which chief executive Brian Duffy said the high-end watch and jewellery retailer entered the new financial year with ?cautious optimism?.This followed a strong finish to the year to 28 April 2024, with...

The FTSE 100 started poorly on Thursday, despite Wednesday?s record closes across the pond, as Sage Group and easyJet offset a boost from BT.The FTSE 100 index opened down 31.09 points, 0.4%, at 8,414.71. The FTSE 250 was up 34.30 points, 0.2%, at 20,809.93, and the AIM All-Share was up 0.2 of a point at 791.81.The Cboe UK 100 was down 0.3% at 840.90, the Cboe UK 250 was up 0.3% at 18,152.47,...

?Milestone? deal in luxury branded jewellery strategyRoberto Coin is sixth biggest jewellery brand in USEarnings and margin-enhancing acquisitionWatches of Switzerland (WOSG) has splashed out $130 million (£104 million) to buy Italian handcrafted jewellery business Roberto Coin Inc in a deal that skews the FTSE 250 firm?s sales mix a bit more towards the lucrative branded jewellery...

Fund outperforms benchmark in 2023Dividend increases by 7% to 7.65pShares sit at 13% discount to NAVMid- and small-cap UK growth investor Mercantile Investment Trust (MRC) outperformed its benchmark in the year to 31 January, delivering a net asset total return of 4.5% and total shareholder returns of 6.1%.The dividend was increased by 7% for the year to 7.65p per share, comfortably covered by...

French conglomerate flags slowdownAsia Pacific disappointsGucci turnaround remains uncertainEuropean luxury stocks were marked down on Wednesday after French conglomerate Kering (KER:EPA) warned its first-quarter sales were expected to tumble by 10%, dragged down by its flagship brand Gucci which is in the early stages of a turnaround.Kering shares plunged 15% to ?362.3 in early Paris trading...

Out of more than 3,500 regulated investment funds in the UK industry VT Argonaut Absolute Return (B7FT1K7) says to ?the best of its knowledge? it is the only one to have delivered double-digit returns for the last five years in a row.The fund?s performance over the past year is particularly eye-catching, returning more than 30% to investors. Since launch in 2009 the fund has achieved a return...

Post-Christmas updates from the industry demonstrate that not all luxury goods companies are created equal, with sector players experiencing contrasting fortunes as the post-pandemic boom normalises and well-heeled shoppers prove more selective.On 25 January, the world?s largest luxury goods group LVMH (MC:EPA) confounded investors? gloomy expectations by delivering better-than-expected fourth...

Pre-tax profits for the year expected to be 10% below market forecastsPre-Christmas retail trading challengingDemand for core pawnbroking at ?record levels?Shares in H&T (HAT:AIM) were down over 17% to 329p in morning trading despite the UK?s biggest pawnbroker reporting a ?robust? performance in the fourth quarter of the year.Aggregate lending in 2023 amounted to £260 million, an increase of...

London?s FTSE 100 ended in the green on Thursday, though its gains fell short of the loftier progress delivered by European peers, as equity markets recovered from Wednesday?s sell-off.Central to the drab mood in markets has been the dialling back of Federal Reserve rate cut expectations. Though a Fed cut in March is still the most likely scenario, the odds of one have dwindled in recent days,...