Hermès

European markets fell sharply, hit by high energy prices and no easing in government bond yields; the EuroStoxx 50 lost 1.86 percent. Hermes shares dropped 7.5 percent after Bernstein and RBC described the results as challenging and below expectations, which also weighed on Kering and LVMH. Tech names such as ASML, SAP and Nokia posted losses, while defensive sectors and Nestlé gained on solid numbers; Roche confirmed its full-year targets and Argenx missed operating profit. » More on finanzen.net

Hermès reports currency‑adjusted stagnation in third-quarter business in the Asia-Pacific region, with China weaker than analysts had expected. Group-wide currency‑adjusted revenues rose 4.3% to about €4.1 billion but missed forecasts. The share lost about 8% and is down more than 40% year to date, the weakest market year since listing. the Americas and Europe performed better; CEO Axel Dumas speaks of a “complex environment.” » More on finanzen.net

Football professionals like Erling Haaland and Jude Bellingham are increasingly showing off expensive designer bags, thereby boosting demand for luxury handbags and offering hope for brands like Hermès in a difficult market environment. The luxury sector is suffering from weaker demand in China and the Middle East; LVMH and Kering reported first-half revenue declines of around 3 percent each. Haaland’s Birkin collection is estimated at about €1.1 million, and consulting firms see potential among male buyers, who currently account for only around a quarter of the market. » More on manager-magazin.de