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Bloomberg Published December 17, 2024 Reading time
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A December rebound in European luxury-goods stocks is easing the pain for investors after a year characterized by concerns over weakening demand in the key market of China.
Optimism is returning following numerous rounds of Chinese stimulus to rejuvenate the world’s second-biggest economy, which have put shares in makers of high-end goods on course for their best month since February. A Goldman Sachs Group Inc. basket tracking the sector is up over 8% in December, trimming its year-to-date drop to only 1%.
These green shoots highlight investor sensitivity to China — whose consumers account for nearly 15% of the global luxury market. The Asian nation recently signaled further stimulus measures, providing the catalyst for a rally similar to one in September, which quickly became exhausted.
