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Richemont down as Swiss exports drop

Oct 18 2012 10:28 Reuters

Company Data

COMPAGNIE FINANCIERE RICHEMONT SA [JSE:CFR]

Last traded 96.65
Change 0.22
% Change 0.00
Cumulative volume 6576744
Market cap 504.51bn

Last Updated: 23/09/2014 at 04:27. Prices are delayed by 15 minutes. Source: McGregor BFA

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Johannesburg - Shares of luxury goods retailer Richemont [JSE:CFR] fell as data showed Swiss watch exports dropped for the first time in two-and-a-half years in September, hit by slowing Chinese demand.

Strong Asian demand for luxury watches had helped companies such as Swatch Group and Richemont sail relatively unscathed through the economic turmoil. However, Swiss exports to China fell by 16.3% in September.

Richemont shares are down 3.8% at R55.60, making it the worst performing share on the Top 40 - (Tradeable) [JSE:J200] index which has shed 0.4% so far this morning.


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