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Three stories tonight: Swiss watch exports, Hong Kong luxury retail, and the diamond supply picture. Tickers covered: UHR.SW | CFR.SW | WOSG.L | MC.PA | SIG
Good evening. It's Wednesday, June the third. I'm Sharon, and
this is Closing Price from ALT/FNDATA.
Three stories tonight: Swiss watch exports, Hong Kong luxury
retail, and the diamond supply picture.
Swiss watch exports to the United States fell 17% year over
year in April. This is the headline weighing on Swatch Group,
ticker UHR on the Swiss Exchange, trading around CHF 215.
Richemont's watchmakers were already down 4% in their latest
fiscal year report. But Richemont, ticker CFR, remains near
its record high at CHF 161.80, supported by the strength of
its jewelry maisons — Cartier, Van Cleef, and Vhernier — which
generated EUR 16.5 billion at a 30.5% margin.
Watches of Switzerland, ticker WOSG on the London Stock
Exchange, surged 14% yesterday on FY2026 earnings showing US
sales up 24%. Swiss exports are down, but specific retail
channels are growing.
Hong Kong revenue from jewelry, watches, clocks, and valuable
gifts was up 20% year over year in April. For Richemont and
LVMH, both with significant Hong Kong exposure, this is a
positive demand signal from Asia-Pacific.
LVMH, ticker MC on Euronext Paris, remains near EUR 473, down
26% year to date. The company is scheduled to report H1 results
in July.
De Beers has reported that the average cost of a natural mined
diamond reached $4,063 in 2025, up 25% from 2023.
On the supply side, the Kao mine will go on care and maintenance
from July amid a rough-price downturn. Supply reductions at a
time of rising average transaction values are worth monitoring
particularly for companies like for Signet Jewelers,
ticker SIG on the NYSE, which raised its
full-year guidance this week on improved sales.
Prices at today's close:
- LVMH (MC.PA): ~EUR 473, down 26% YTD
- Richemont (CFR.SW): ~CHF 161.80, near record high
- Swatch (UHR.SW): ~CHF 215
- Watches of Switzerland (WOSG.L): up 14% yesterday
- Signet (SIG): raised FY guidance
That is Closing Price for Wednesday, June the third. Tickers
covered: UHR.SW, CFR.SW, WOSG.L, MC.PA, SIG.
I'm Sharon, from ALT/FNDATA. Subscribe to us for notifications and Open Bid is tomorrow morning at
six AM Eastern.
