European luxury stocks find gold to end the year on China, US optimism

Quick Summary:

Shares of European luxury goods companies rebound after a bad year, as investors hope stimulus measures will spur consumption.

The stock now trades at 22 times its 12-month blended forward price-to-earnings, below an average of about 25 times since 2018.

A Goldman Sachs basket tracking the sector is up more than 8 per cent in December, trimming its year-to-date decline to just 1 per cent.

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Article Details

Author / Journalist: Bloomberg

Category: Business

Markets: Hong KongChinaSwitzerland

Topics: Cent Global Stimulus Luxury Shares Year Economy Measures Companies China Support

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-12-17 @ 15:28:48 (2 hours ago)

News Timezone: GMT +8:00

News Source URL: scmp.com

Language: English

Article Length: 250 words

Reading Time: 2 minutes read

Sentences: 8 lines

Sentence Length: 32 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © SCMP

News ID: 24495864

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Official Website: scmp.com

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