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Blackstone (BX.N) limited withdrawals from its $69 billion unlisted REIT on Thursday after redemption requests hit pre-set limits amid investor concerns it was slow to adjust valuations as interest rate surged, a source close to the fund said. The development is yet another reminder of the risks facing not just sectors that are sensitive to higher interest rates but also broader financial markets, which have rallied sharply on hopes that interest rate hikes will slow. "REITS had a fantastic performance for a couple of months but when you have that outperformance, investors don't react to traditional fundamental signals such as rising rates," she said. But in recent weeks expectations have risen that the Fed will "pivot" from aggressive tightening, prompting investors to price in lower peak interest rates. Blackstone has reported a 9.3% year-to-date net return for the REIT, while the publicly traded Dow Jones U.S.

LONDON, Nov 28 (Reuters) - Paris' luxury-laden stock exchange is now worth more than London's. France's CAC All Shares index (.PAX) is now worth almost $3 trillion, making it Europe's largest stock market by value thanks to demand for its luxury-retailer blue chips. Reuters GraphicsFUND FLOWSSo far in 2022, funds investing in UK stocks have seen record outflows of 23 billion euros, according to Refinitiv Lipper, up from almost 18 billion euros last year and the 14.6 billion euros shed in 2016, when Britain voted to leave the European Union. Annual outflows from French equity funds are much smaller - at 2 billion euros this year. FX MATTERSIt's also worth noting that currency comes into play when measuring the size of London's market against Paris' in dollar terms.

☆ Outperforming asset manager picks 3 global retailers to short amid a fall in consumer spending
▼ + stars: | 2022-11-28 | by ( Ganesh Rao | ) www.cnbc.com time to read: +3 min

Shares of mass market retailers will fall as profit margins are squeezed, and consumers curtail spending next year, according to Plurimi Wealth's chief investment officer. Selling shares "short" means borrowing shares through a broker to sell them immediately with a plan to repurchase them when the price is lower. In such an environment, mass market retailers that benefit from discretionary spending will see their revenues decline. While investors are split over the health of the American consumer, European shoppers are mostly expected to curtail their spending habits next year. Elsewhere in Europe, economists are also expecting a recession for the first half of next year that will impact discretionary spending.

☆ Outperforming asset manager picks the stocks set to win as margins get squeezed
▼ + stars: | 2022-11-25 | by ( Zavier Ong | ) www.cnbc.com time to read: +3 min

"Consumers are going to have their purse strings pulled by utility bills, higher mortgage costs, higher petrol prices, and there's going to be margin squeeze." He said wage pressure and higher commodity prices were particularly challenging and could eat into companies' margins. Luxury Luxury stocks are another favorite for Armstrong. Moreover, the "massive" profit margins of luxury companies are also insulated from increases in input prices, he added. Within the space, Armstrong's fund owns French luxury goods companies LVMH and Hermes , given their "defendable margins" and the ability to be price setters.

☆ Analysis: Out of fashion: Gucci faces daunting task to replace top designer
▼ + stars: | 2022-11-25 | by ( Mimosa Spencer | ) www.reuters.com time to read: +5 min

[1/4] Gucci's designer Alessandro Michele arrives at the "Green carpet Fashion Awards" event during the Milan Fashion Week in Milan, Italy, September 24, 2017. Tensions had been high between the designer and company management, sources told Reuters. Kering chairman and CEO François-Henri Pinault lauded the designer's tenure as "an outstanding moment" in Gucci's history. Gucci falls out of fashionFURRY LOAFERSMichele, 49, reinvigorated the brand with his eccentric, gender-fluid styles popular with younger shoppers. China generates around 35% of Gucci's annual sales, according to Barclays estimates, compared to 27% for LVMH's fashion and leather goods division and 26% for Hermes.

☆ Markets are blindly expecting the best – but inflation might not cool to the Fed's 2% target until late 2024, says Federated Hermes' top stock-picker
▼ + stars: | 2022-11-24 | by ( George Glover | ) www.businessinsider.com time to read: +2 min

It's too optimistic to think interest rate rises are done, says Federated Hermes' chief strategist. "The market is whistling past the graveyard and expecting the best thing to happen," Phil Orlando said. It could take until the end of 2024 for inflation to fall to the Fed's 2% target, he added. "Right now the market is whistling past the graveyard and expecting the best things to happen," he told Yahoo Finance on Wednesday. The Consumer Price Index rose by a lower-than-expected 7.7% last month, offering markets the strongest sign yet that inflation is starting to fall.

☆ Macy's raises annual profit forecast on firm luxury demand
▼ + stars: | 2022-11-17 | by ( ) www.reuters.com time to read: +1 min

Nov 17 (Reuters) - Upscale department store chain Macy's Inc (M.N) raised its annual profit forecast on Thursday on resilient demand for high-end suits, gowns and beauty products as wealthier shoppers were undeterred by inflation. Like other retailers, Macy's has introduced more discounts to clear excess stock of casual and athleisure apparel, while luxury goods sales has held up relatively well. The department store chain said it expects fiscal 2022 adjusted profit of $4.07 to $4.27 per share compared with its previous forecast of $4 to $4.20. Net sales at the department store chain fell to $5.23 billion in the third quarter ended Oct, 29 compared with $5.44 billion a year earlier. Reporting by Deborah Sophia and Uday Sampath in Bengaluru; Editing by Arun KoyyurOur Standards: The Thomson Reuters Trust Principles.

☆ Inflation will come down hard next year, says Federated Hermes' Linda Duessel
▼ + stars: | 2022-11-14 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailInflation will come down hard next year, says Federated Hermes' Linda DuesselLinda Duessel, senior equity strategist at Federated Hermes, and JJ Kinahan, IG North America CEO, join CNBC's 'Squawk Box' to discuss markets and their inflation forecasts ahead of the open.

☆ Michael Kors-owner Capri cuts holiday forecasts on slow China recovery
▼ + stars: | 2022-11-09 | by ( ) www.reuters.com time to read: +1 min

Nov 9 (Reuters) - Michael Kors-owner Capri Holdings Ltd (CPRI.N) on Wednesday lowered its sales and profit forecasts for the holiday period, blaming a slow demand recovery in China due to persistent COVID-19 curbs and uncertainty about the global economy. Luxury goods companies have managed to pass on higher costs to affluent shoppers, but China remains a sore spot as Beijing's "dynamic zero-COVID" policy hampers the return of consumers to high-fashion stores. COVID disruptions in China have also weighed heavily on Kering's (PRTP.PA) Gucci, Canada Goose Holdings (GOOS.TO) and L'Oreal (OREP.PA). Capri, which also owns Versace and Jimmy Choo, cut its holiday-quarter sales forecast to $1.53 billion, from $1.65 billion, and lowered its profit forecast to $2.20 per share from $2.45 per share. It forecast fiscal 2023 revenue of $5.70 billion, compared with its prior estimate of about $5.85 billion.

☆ European shares gain ground on boost from travel stocks
▼ + stars: | 2022-11-07 | by ( Shreyashi Sanyal | ) www.reuters.com time to read: +3 min

REUTERS/StaffSummarySummary Companies Flutter, Ryanair lead travel stocks higherTravel & leisure index hits near 3-month highsChina-exposed luxury companies declineIrish stocks rallyNov 7 (Reuters) - European shares rose on Monday, reversing declines from the opening bell, as a jump in travel stocks helped outweigh a drag from China-exposed luxury giants. The benchmark STOXX 600 index (.STOXX) added 0.6% by 0929 GMT, extending gains after its fourth straight weekly rise. Flutter Entertainment Plc rose 4.5%, boosting European travel & leisure stocks (.SXTP) by 2.3% and helping it touch a near three-month high. European luxury stocks, including LVMH (LVMH.PA), Pernod Ricard (PERP.PA) and Hermes International (HRMS.PA), dipped between 0.1% and 0.4%. Dutch fertiliser maker OCI (OCI.AS) fell 3.7% to the bottom of the STOXX 600 after J.P. Morgan cut its rating on the stock on softer quarterly outlook.

☆ Wall St Week Ahead Inflation data, midterm elections loom for struggling U.S. stock rally
▼ + stars: | 2022-11-04 | by ( David Randall | ) www.reuters.com time to read: +4 min

NEW YORK, Nov 4 (Reuters) - A sputtering U.S. stock rally faces a double-dose of potentially market moving events next week: U.S. midterm elections and inflation data that could influence the Federal Reserve's monetary policy. Consumer price data has driven huge market moves this year, as surging inflation forced investors to ramp up expectations for Fed rate hikes. A stronger-than-expected reading on Nov. 10 would likely bolster the case for the Fed to continue. "If we get lower inflation reading then you could get a relief rally based on that data,” said Emily Roland, co-chief investment strategist at John Hancock Investment Management. "The results of the midterm will give greater visibility and help draw investor confidence higher," he said.

☆ European shares rise as China reopening hopes lift luxury, mining stocks
▼ + stars: | 2022-11-04 | by ( Shreyashi Sanyal | ) www.reuters.com time to read: +3 min

The STOXX 600 (.STOXX) rose 1.1% by 0932 GMT. The European basic resources index (.SXPP) surged 4.6% to a seven-week high and was set for its biggest weekly gain in more than three months. Luxury giants including LVMH (LVMH.PA), Kering (PRTP.PA), Pernod Ricard (PERP.PA) and Hermes International (HRMS.PA) climbed between 2.5% and 3.5%. Among other stocks, manufacturer Andritz (ANDR.VI) surged 9.2% to the top of the STOXX 600, as its quarterly sales and profit rose significantly. Reporting by Shreyashi Sanyal in Bengaluru; Editing by Subhranshu Sahu and Vinay DwivediOur Standards: The Thomson Reuters Trust Principles.

☆ Tom Ford return offers remedy for Gucci fatigue
▼ + stars: | 2022-11-04 | by ( Lisa Jucca | ) www.reuters.com time to read: +3 min

MILAN, Nov 4 (Reuters Breakingviews) - Tom Ford’s return to the realm of Gucci owner Kering (PRTP.PA) would add some much-needed sparkle. Bringing Tom Ford himself on board could even help revitalise it. Tom Ford offers diversification at a reasonable valuation. Sales of Tom Ford Beauty’s cosmetics and fragrances grew at a double digit rate in the third quarter, according to Vogue Business. In August, the Wall Street Journal reported that beauty giant Estée Lauder was looking to buy Tom Ford for $3 billion.

☆ Bakhshian: Powell really needed to thread the needle with his messaging
▼ + stars: | 2022-11-03 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBakhshian: Powell really needed to thread the needle with his messagingLinda Bakhshian of Federated Hermes discusses the market's negative reaction to the Fed's continued hawkish stance on rates, but says once the dust settles, the messaging and course of action could be positive for stocks.

☆ Bethenny Frankel: I went from a 'Real Housewife' to a credible businesswoman. It took me a while to realize my success wasn't a fluke.
▼ + stars: | 2022-11-03 | by ( Eboni Boykin-Patterson | ) www.businessinsider.com time to read: +7 min

I used to joke and say I'm a beauty influencer. It took a while for me to realize that my success wasn't a fluke and that I wasn't a one hit wonder. Now that I've proven myself in business, I'm actually ready to switch gears. As a mother, I think accountability is what I'm talking about, because these toxic messages are being sent to my daughter. I may not always know what the hell I'm talking about, but we're going to figure it out together.

☆ Saudi Aramco joins oil results bonanza with 39% jump in net income
▼ + stars: | 2022-11-01 | by ( Hadeel Al Sayegh | ) www.reuters.com time to read: +2 min

Aramco's net income rose to $42.4 billion for the three months to Sept. 30 from $30.4 billion a year earlier, it said in a regulatory filing. The company's free cash flow rose to $45 billion from $28.7 billion a year-earlier. Aramco's reported net income, while higher year on year, was slightly lower than its record second quarter. Net income was also partially offset by increased production royalties, resulting from stronger crude oil prices and higher sales volume. Royalties and other taxes more than doubled year-on-year in the third quarter to $24.3 billion, from $10.48 billion last year.

☆ European shares jump as luxury stocks, miners rally amid Fed pivot hopes
▼ + stars: | 2022-11-01 | by ( Shreyashi Sanyal | ) www.reuters.com time to read: +3 min

SummarySummary Companies Luxury stocks lift euro zone blue-chipsMining, energy stocks rise on higher commodity pricesFed's two-day meeting to start later in the dayMonte dei Paschi up as cash call 93% coveredNov 1 (Reuters) - European shares jumped on Tuesday, boosted by miners and luxury stocks, amid rising hopes that the U.S. Federal Reserve would slow down the pace of its interest rate hikes next month. The pan-European STOXX 600 index (.STOXX) rose 1.2% by 0905 GMT, kicking off November on a solid footing and hovering at their highest in more than six weeks. The EURO STOXX 50 index (.STOXX50E) gained 1.2% after luxury giants including LVMH (LVMH.PA), Kering (PRTP.PA), Hermes International (HRMS.PA) and Pernod Ricard (PERP.PA) jumped between 2.2% and 3.9%. Miners in Europe (.SXPP) leapt 3.0% while oil & gas stocks (.SXEP) added 1%, as prices of oil and industrial metals rose against declines in the dollar. ECB President Christine Lagarde said the central bank must keep raising interest rates to fight off inflation even if the probability of a euro zone recession has increased.

☆ Politics and your portfolio: Midterm elections create uncertainty for markets
▼ + stars: | 2022-10-31 | by ( Stephanie Dhue | ) www.cnbc.com time to read: +3 min

Voters file down the hall as early voting begins for the midterm elections at the Citizens Service Center in Columbus, Georgia, on Oct. 17, 2022. So with the midterm elections now a week away but the outcome still not in focus, does it make sense to make those adjustments now? Financial advisors say it's best to adjust your portfolio based on your financial goals and not on the outcome of any event. The market has a 'very distinct' midterms patternHistorically, stocks tend to do better after midterm elections. In 17 of the 19 midterm elections held since 1946, stocks performed better in the six months after the election than they did in the six months prior.

☆ Rich millennials are buying $152 poop-bag holders and $1,100 Hermès dog bowls as luxury brands bank on them spoiling their pets over having kids
▼ + stars: | 2022-10-24 | by ( Mark Ellwood | ) www.businessinsider.com time to read: +10 min

Luxury brands like Prada and Versace have launched pet collections in the past couple of years. Thirty percent of pet owners said they spent more on their pets and pet supplies in 2020 than in 2019. Courtesy of Anya HindmarchHindmarch's short-lived project is just the latest sign of the opportunities available in the upscale pet market, especially for dog owners. In summer 2021, Versace expanded its homeware collection to cater to pets, no doubt inspired by Donatella's own Jack Russell, Audrey. Heather GildroyPagerie, a luxury pet brand that just launched a collection aimed as much at humans as at dogs, hopes this will be the case.

☆ Saudi bourse gains on strong earnings, oil prices; Qatar falls
▼ + stars: | 2022-10-23 | by ( Ateeq Shariff | ) www.reuters.com time to read: +2 min

Oct 23 (Reuters) - Saudi Arabia's stock market ended higher on Sunday, in response to rising oil prices and strong earnings, while the Qatari index retreated amid falling natural gas prices. Post trading hours, the company reported a quarterly net profit of 269.9 million riyals ($71.82 million), up from 18 million riyals a year ago. Saudi National Bank (<1180.SE>), the country's biggest lender, inched 0.3% higher, after posting a net profit of 4.725 billion riyals ($1.26 billion) in the quarter, up from 3.98 billion riyals a year earlier. read moreThe Qatari index (<.QSI>) fell 0.5%, hit by a 1.1% fall in petrochemical maker Industries Qatar (<IQCD.QA>). "The commodity could extend losses as production outpaces expectations and warm weather limits demand, putting more pressure on the stock market," he said.

☆ Copycatting lawsuits hit new media as TikTok creators, game designers and Instagrammers are sued
▼ + stars: | 2022-10-22 | by ( Alexandra Peers | Cnn Business | ) edition.cnn.com time to read: +7 min

A series of hot-button lawsuits have linked all those unlikely creators and platforms in litigation that goes as high as the US Supreme Court. The litigation deals with issues of intellectual property, copyright infringement and fair use in a rapidly changing new-media landscape. She won, but not much: $3,750, because the court ruled that, though her copyright had been violated, her tattoos didn’t impact game profits. It was a huge hit on TikTok, in part because the duo invited feedback and participation, making it a crowd-sourced artwork. But when the creators took their show on the road and sold tickets, Netflix sued.

☆ Remy Cointreau to enter perfume market at 5,500 euros a bottle
▼ + stars: | 2022-10-21 | by ( Dominique Vidalon | ) www.reuters.com time to read: +3 min

A view shows a Baccarat crystal perfume bottle made for Maison Psyche fragrance, a luxury perfume by French spirits group Remy Cointreau in this picture released by Remy Cointreau on October 21, 2022. Alice Fenwick - Remy Cointreau/Handout via REUTERSPARIS, Oct 21 (Reuters) - Known for its prized Louis XIII cognac, Remy Cointreau (RCOP.PA) is entering the luxury fragrance market with the launch of Maison Psyche, an upscale perfume house that will sell scents starting at 5,500 euros a bottle. The French spirits group will draw on its experience in blending and ageing spirits, as well as marketing to high end clientele, as it seeks to tap into affluent consumers' thirst for exclusivity. The new business could be “potentially strategic,” Remy Cointreau chief executive Eric Vallat told Reuters. Remy Cointreau's Maison Psyche was born from the collaboration of Baptiste Loiseau, Cellar Master of Remy Martin and Sophie Labbe, Principal Perfumer of Switzerland's fragrance group Firmenich.

☆ Hermès Sales Rise as Demand for Luxury Goods Defies Price Hikes
▼ + stars: | 2022-10-20 | by ( Nick Kostov | ) www.wsj.com time to read: 1 min

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/demand-for-luxury-goods-defies-price-hikes-11666266813

A couple walk with Hermes shopping bags as they leave an Hermes store in Paris March 21, 2013. Hermes (HRMS.PA) and Pernod Ricard (PERP.PA) both said they will continue to raise prices, after beating expectations in the July-September quarter. Mainland China also saw a strong rebound after COVID-19 restrictions were lifted, although some restrictions have since been reimposed. PRICE RISESThe world's biggest luxury group LVMH (LVMH.PA) last week kicked off the earnings season with forecast-beating sales -- and no signs of a let-up in demand. The results from Pernod and Hermes bode well for beauty giant L'Oreal (OREP.PA) and Gucci-owner Kering (PRTP.PA), which both report results later on Thursday.

☆ Hermes eyes big price rises, says no sign of slowdown
▼ + stars: | 2022-10-20 | by ( ) www.reuters.com time to read: +1 min

The logo of Hermes is seen on a store in Paris, France, April 24, 2020. "We will probably have price hikes between 5 and 10 percent," Hermes executive vice president of finance Eric du Halgouet told reporters on Thursday, adding this was due to rising labour costs and currency fluctuations. Register now for FREE unlimited access to Reuters.com RegisterThe company raised prices by around 4% this year and by 1.5-2% on average in previous years. "Sales in Greater China picked up strongly, despite temporary closures due to sanitary measures mainly in Macau, Chengdu and Dalian in July and August," the company said in a statement. ($1 = 1.0222 euros)Register now for FREE unlimited access to Reuters.com RegisterReporting by Mimosa Spencer, editing by Silvia AloisiOur Standards: The Thomson Reuters Trust Principles.

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