European shares muted as luxury firms fall

economictimes.indiatimes.com:

shares were subdued at the open on Friday on the back of mixed earnings results, while heavyweight luxury firms fell after Richemont's results failed to impress.

The pan-European STOXX 600 held firm at 509.9 points as of 0817 GMT, with healthcare leading subsector gains with a 1.1% rise, while basic resources lagged with a 2.4% fall.

Richemont dipped 3.3% after the Cartier jewellery brand owner reported a 1% dip in sales during the three months to the end of September.

Most French luxury stocks fell early on. LVMH lost 1.7% and Kering shed 3.9%.

Vistry dropped 12.8% after Britain's largest homebuilder by annual output issued its second full-year profit warning in a month.

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