{"type":"rich","version":"1.0","provider_name":"Transistor","provider_url":"https://transistor.fm","author_name":"Closing Price — Luxury Equities & Alternative Asset Signals","title":"Luxury Stocks Finally Rally With the Saleroom: LVMH, Hermès and Kering Jump 3%+, Chanel Buys Charvet, and a Record Tequila","html":"","width":"100%","height":180,"duration":357,"description":"July 2: Luxury Stocks Finally Rally With the Saleroom: LVMH, Hermès and Kering Jump 3%+, Chanel Buys Charvet, and a Record Tequila\nFor the first time in a while, both sides of the divergence moved the same way, and that way was up. The listed luxury names did not merely steady after Monday's stumble, they rallied hard, and they did it even as Wall Street was heavy. At the same time the industry itself signalled strength: Chanel paid to buy the 188-year-old Parisian shirtmaker Charvet, and the collectibles market set a record for the most expensive bottle of tequila ever sold at auction. All quarter the equity market has marked luxury down while the saleroom set records. Today the stocks narrowed that gap from the side that had been lagging.\nALT/FNDATA\n- Book a Data Sandbox demo: https://altfndata.com/book\n- Market reports: https://altfndata.com/go/cp-260702-r\n- Podcast episodes: https://altfndata.com/go/cp-260702-p\nA Rare Day of Agreement (the divergence narrows from the stock side)\n- European luxury rallied broadly: LVMH, Hermès and Kering each closed up more than 3 percent, and Watches of Switzerland jumped almost 4 percent as its bounce off Monday extended into a second day.\n- It happened against a soft tape: the Nasdaq fell 0.8 percent and the S&P 500 finished flat, so luxury rallied on its own rather than on broad-market beta.\n- The industry echoed it: Chanel bought Charvet to own a piece of irreplaceable craft, and a single bottle of Clase Azul (first sold for 250 dollars) fetched 35,000 dollars at Sotheby's, the most ever paid for a tequila at auction.\nThe Tape (Thursday close)\n- Macro: Nasdaq 25,833 (-0.80%), S&P 500 7,483 (flat), gold 4,136 (+1.68%, another record), WTI oil 68.49 (-0.13%), US 10-year ~4.5% (+2.58%), dollar index 100.85 (-0.54%).\n- European luxury (broadly higher): LVMH 497.95 EUR (+3.52%), Hermès 1,647.0 EUR (+3.26%), Kering 252.55 EUR (+2.77%), Watches of Switzerland 736.5p (+3.88%), Brunello Cucinelli 83.24 EUR (+0.77%), Burberry...","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}