A Poor End To January, Despite a Boost For Luxury Goods
European bourses fall further Friday morning as German consumer spending figures are much worse than expected.
Still rattled by the chaos on emerging markets, European bourses fell further this morning as consumer spending figures turned out dramatically worse than expected in Germany, and a bit better in France. The world¿s largest luxury goods company, LVMH, rose over 6% and took other luxury goods groups with it after posting fourth quarter sales up 2% at $11.4 billion. Drinks companies like Diageo fell on a Chinese luxury gifts crackdown. Globally, mood has turned sour recently, and this January is now looking to be the weakest for stocks since 2010.
