European luxury firms rise after China unveils new stimulus package By Investing.com
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Sep 24 2024
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Source: Investing.com
Chinese Economic Measures: European luxury stocks rose following China's announcement of measures to stimulate economic growth, including a cut in reserve requirements and reduced mortgage rates to support the struggling property market.
Luxury Sector Challenges: Analysts predict continued weak demand for luxury goods in China, with no significant sales improvement expected in the latter half of 2024, despite hopes for stronger growth due to easier comparisons in the second half of the year.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
