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Tonight: auto sector equities, Centre Pompidou Seoul opens, and a packed watch auction calendar ahead. Tickers covered: MC.PA | CFR.SW | UHR.SW | RACE | WOSG.L
Good evening. It's Thursday, June the fourth. I'm Sharon, and
this is Closing Price from ALT/FNDATA.
Tonight: auto sector equities under pressure, Centre Pompidou
Seoul opens, and a packed watch auction calendar ahead.
Luxury auto stocks are under pressure. BMW, Mercedes-Benz,
and Porsche have all broken through or are testing technical
support levels. LVMH is down 25% over the past three months.
Ferrari is the exception. The company posted a 29.5% operating
margin in 2025, up from 28.3% the year prior, on revenue of
EUR 7.1 billion.
RM Sotheby's has announced the consignment for its Tegernsee
auction on July 4th. The headline lot is a Ferrari 599XX Evo
at EUR 2 million to EUR 2.5 million. A Porsche Carrera GT is
estimated at EUR 1.2 million to EUR 1.6 million. The results
will provide a real-time read on collector demand for the same
marques whose parent companies are under equity pressure.
Centre Pompidou Hanwha opened today in Seoul. The 10,000
square meter museum inside the 63 Building in Yeouido is a
partnership with the Hanwha Foundation. The inaugural
exhibition features Picasso, Kandinsky, Matisse, and Chagall.
For Hanwha Group — a publicly traded conglomerate on the
Korea Exchange — this is a brand investment. Cultural
institutions attached to conglomerates are increasingly
common in Asia, and they influence perception of the parent
company among high-net-worth clients and investors.
A dense stretch of watch auctions begins next week:
- Sotheby's Magnificent Jewels — June 9, New York
- Christie's watches — June 10, New York
- Bonhams watches — June 11, London
- Phillips watches — June 13-14, New York
- Sotheby's watches — June 15, New York
Five sales across three houses in seven days. The results
will set the tone for the secondary watch market heading
into summer. Swiss watch exports to the US fell 17% in
April — these auctions will tell us whether the secondary
market is absorbing what primary retail is not.
Richemont (CFR.SW) remains near its record high at CHF
161.80. Swatch (UHR.SW) is at CHF 215. Watches of
Switzerland (WOSG.L) is holding its 14% gain from earlier
this week.
- LVMH (MC.PA): EUR 477.10, day range 473-479.75
- Richemont (CFR.SW): ~CHF 161.80
- Swatch (UHR.SW): ~CHF 215
- Ferrari (RACE): 29.5% operating margin, FY25 revenue EUR 7.1B
- BMW, Mercedes, Porsche: testing technical support levels
That is Closing Price for Thursday, June the fourth. Tickers
covered: MC.PA, CFR.SW, UHR.SW, RACE.
I'm Sharon, from ALT/FNDATA. Open Bid returns tomorrow
morning at six AM Eastern.
