Swatch

The High Court of Justice of England and Wales confirmed that Samsung infringed Swatch Group's trademark rights for digital watch faces and awarded damages of 11.6 million USD. Swatch had originally sought 170 million USD for infringements on 26 watch faces; the court found infringements in ten cases. The affected "Watch Face" apps were downloaded around 160,000 times in the EU and Britain; a separate proceeding against Samsung is ongoing in the US. » Altro su finanzen.net

The EuroStoxx 50 continued its downward trend, closing 0.35% lower at 6,422.06 points, weighed down by rising bond yields and higher oil prices. The SMI limited losses after a report on a free-trade agreement between Switzerland and China, which supported export names such as Swatch, up 1.3%. Energy stocks like Eni and BP benefited from higher oil prices, while retailers such as JD Sports fell sharply after sales warnings. Michelin rose following an upgrade by JPMorgan. » Altro su finanzen.net

Swatch missed profit targets for the half-year, operating profit fell sharply and the stock has lost momentum in recent months, leading analysts to classify the title as a speculative bet. Bank of America experts distinguish in the luxury market between weaker "soft luxury" names and resilient "hard luxury"; watches and jewelry are seeing sales increases. Richemont is benefiting strongly from demand for watches and jewelry, such as Cartier, and is considered less cyclical due to its diversified business; breaching the CHF 200 mark could signal further upside potential. » Altro su handelsblatt.com