{"type":"rich","version":"1.0","provider_name":"Transistor","provider_url":"https://transistor.fm","author_name":"Closing Price — Luxury Equities & Alternative Asset Signals","title":"Gold Falls Nearly 4%; Frasers Bids $3.1B for Hugo Boss; Ferrari Struggles as Its China EV Stumbles","html":"<iframe width=\"100%\" height=\"180\" frameborder=\"no\" scrolling=\"no\" seamless src=\"https://share.transistor.fm/e/8b7c788b\"></iframe>","width":"100%","height":180,"duration":417,"description":"June 10: Gold Falls Nearly 4%; Frasers Bids $3.1B for Hugo Boss; Ferrari Struggles as Its China EV Stumbles\nA sharp selloff in gold, a mixed close for the luxury names, Ferrari the day's weakest as its first electric car stumbles in China, and a $3.1 billion bid for Hugo Boss.\nALT/FNDATA\n- Book a Data Sandbox demo: https://altfndata.com/go/cp-260610\n- Market reports: https://altfndata.com/go/cp-260610-r\n- Podcast episodes: https://altfndata.com/go/cp-260610-p\nLuxury Equities — The Close\n- Paris: LVMH (MC) 488 EUR −0.9%; Kering (KER) 256 EUR +0.3%; Hermès (RMS) 1,636 EUR −1.8%\n- Zurich: Richemont (CFR) 169 CHF +0.8%; Swatch (UHR) 200 CHF −0.8%\n- London: Watches of Switzerland (WOSG) 701p +1%; Burberry (BRBY) 1,117p +0.4%\nGold and Silver\n- The day's biggest move: gold ~$4,100/oz, −3.8% from Tuesday's close; silver ~$64, −2.1%. The selloff came as US inflation data landed and Middle East tensions stayed in focus.\nFerrari\n- Ferrari (RACE) $347, −3.1% was the weakest luxury name on the board\n- Also lower in New York: Zegna (ZGN) $14.40 −2.6%; Signet (SIG) $86 −1%\nDealmaking — Hugo Boss\n- Frasers Group (FRAS), controlled by Mike Ashley, has offered roughly $3.1 billion for Hugo Boss; it already owns about 26%. Frasers closed 771p, +4%; Hugo Boss (BOSS) ~36 EUR, +0.6%\nThe Tape\n- May CPI +4.2% year-on-year was the fastest rate in three years, though it met market expectations; Wall Street fell on technology losses and Middle East tensions; oil rose after Trump's Iran strike threats\nWeek Ahead\n- Bonhams London Fine Watches — June 11\n- Christie's Important Watches (New York) + Christie's Paris Hermès online sale opens + Sotheby's Gem Drop — June 12\n- Bonhams National Automobile Museum (Reno) + Phillips New York Watch Auction — June 13\n- Sotheby's Important Watches — June 15\nDisclosure: ALT/FNDATA provides data and analysis, not investment advice.\nAlso from ALT/FNDATA:\n- Open Bid — Mon-Fri at 6 AM ET\n- Luxury Spending — Wednesdays","thumbnail_url":"https://img.transistorcdn.com/-hOE2p7i6o042-uL_U7DDqKjx_Az8ErebwSEdvS9Gfo/rs:fill:0:0:1/w:400/h:400/q:60/mb:500000/aHR0cHM6Ly9pbWct/dXBsb2FkLXByb2R1/Y3Rpb24udHJhbnNp/c3Rvci5mbS9jMTc5/NmRjNzQ2MTE0NmFl/YWY4OTQyODMxMTlh/ZGNiYy5wbmc.webp","thumbnail_width":300,"thumbnail_height":300}