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.
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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.