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Luxury goods group Richemont beat expectations on Friday after high demand from Chinese consumers for jewellery and watches boosted sales over the three months to March 31, sending shares to record highs.
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Tapestry Inc raised its annual profit forecast on Thursday, betting that price increases, strong demand for its Coach handbags and a sharp rebound in China would shield it from a wider slowdown in U.S. luxury purchases.
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Investors are getting more bang for their buck this year by buying European companies with a focus on China than buying Chinese companies themselves, a sign of the unevenness of China's pandemic recovery and geopolitical concerns.
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The 700-piece private jewellery collection of the late Austrian billionaire Heidi Horten, the world's largest and most valuable collection of its kind to come to auction, could sell for more than $150 million, Christie's said on Monday.
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Warren Buffett on Saturday offered a vote of confidence in the United States, saying he could not imagine the government letting it default on its debt and risk letting the world's financial system "go into turmoil."