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US court blocks Tapestry's $8.5 billion acquisition of rival Capri

UPDATE 3-US court blocks Tapestry's $8.5 billion acquisition of rival Capri Adds detail from the ruling in paragraphs 4-5 and 13, comment from Tapestry in paragraphs 6-7 FTC argued merger would eliminate competition, raise prices Capri shares plunge 47%, Tapestry shares rise 13% after ruling Judge Rochon said harm to competition outweighs benefits By Siddharth Cavale NEW YORK, Oct 24 (Reuters) - A U.S.
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US court blocks Tapestry's $8.5 billion acquisition of rival Capri

US court blocks Tapestry's $8.5 billion acquisition of rival Capri NEW YORK, Oct 24 (Reuters) - A U.S. judge blocked the pending $8.5 billion merger of U.S. handbag and accessories maker Tapestry TPR.N and Capri CPRI.N on Thurs day , a victory for the U.S. Federal Trade Commission in an industry where merger challenges are rare. The FTC argued at an eight-day trial in New York that the merger would eliminate fierce head-to-head competition between the top two U.S.
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European shares end flat as economic woes overshadow upbeat earnings

UPDATE 2-European shares end flat as economic woes overshadow upbeat earnings For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window. Travel and leisure tops sectoral gainers Hermes underpins mood in luxury stocks Renault rises after Q3 sales beat Edenred plummets on slight Q3 miss Updated at 1605 GMT By Paolo Laudani, Ankika Biswas and Johann M Cherian Oct 24 (Reuters) - European shares gave up early gains to close little changed on Thursday a
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Kering shares up, shrugging off 2024 operating profit warning

UPDATE 1-Kering shares up, shrugging off 2024 operating profit warning Adds comment, detail, refreshes share price at 0729 GMT PARIS, Oct 24 (Reuters) - Shares in Gucci-owner Kering PRTP.PA rose on Thursday, shrugging off the French luxury goods company's warning that 2024 operating income would almost halve to its lowest in years due to weak demand in China.
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Assa Abloy, Kering, L'Oréal

EUROPE RESEARCH ROUNDUP-Assa Abloy, Kering, L'Oréal Oct 24 (Reuters) - Securities analysts revised their ratings and price targets on several European companies, including Assa Abloy, Kering and L'Oréal, on Thursday. HIGHLIGHTS * Assa Abloy ASSAb.ST : Deutsche Bank raises target price to SEK 305 from SEK 300 * Barratt Redrow Plc BTRW.L : Morgan Stanley cuts target price to 580p from 600p * Dowlais Group Plc DWL.L : Citigroup raises to neutral from sell * Kering PRTP.PA : JP Morgan cuts target
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Kering shares up despite warning on the 2024 operating profit

Kering shares up despite warning on the 2024 operating profit PARIS, Oct 24 (Reuters) - Shares in Kering PRTP.PA were in positive territory Thursday despite the French luxury goods saying on Wednesday its 2024 operating income would almost halve to its lowest in years due to weak demand in China. Kering shares were up 0.3% in early session trading.
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Europe before the bell: Tesla and other earnings for breakfast

LIVE MARKETS-Europe before the bell: Tesla and other earnings for breakfast Welcome to the home for real-time coverage of markets brought to you by Reuters reporters. You can share your thoughts with us at markets.research@thomsonreuters.com EUROPE BEFORE THE BELL: TESLA AND OTHER EARNINGS FOR BREAKFAST European shares were set for a minor gains at the open on Thursday on very busy day for earnings, as a strong sales forecast from Tesla TSLA.O that sent its shares rallying offset uncertainty ove
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Hermes continues to outshine rivals with Q3 sales up 11.3%

UPDATE 1-Hermes continues to outshine rivals with Q3 sales up 11.3% Adds China, analyst, quotes, in paragraphs 3,4, 8-11 By Mimosa Spencer PARIS, Oct 24 (Reuters) - Birkin bag maker Hermes HRMS.PA reported on Thursday a hefty rise in third-quarter sales, continuing to outshine rivals hit hard by a downturn in China as its luxury handbags lure wealthy shoppers.
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French and Benelux stocks-Factors to watch

UPDATE 1-French and Benelux stocks-Factors to watch Adds Atos, Danone, Dassault, Eramet, Hermes, Orange and Renault Oct 24 (Reuters) - Below are company-related news and stories from France and Benelux which could have an impact on the region's markets or individual stocks. A TOS ATOS.PA : The struggling French IT firm reported a 4.4% organic drop in third-quarter revenue on Thursday, blaming softer market conditions, but said it had seen an improved order entry for the next quarter.
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Hermes Q3 sales up 11.3%, continues to outshine rivals

Hermes Q3 sales up 11.3%, continues to outshine rivals By Mimosa Spencer PARIS, Oct 24 (Reuters) - Birkin bag maker Hermes HRMS.PA reported on Thursday an 11.3% rise in third-quarter sales, continuing to outshine rivals hit hard by a downturn in China as its luxury handbags lure wealthy shoppers. The French luxury company generated 3.7 billion euros ($3.99 billion) in revenue for the three months ending in September, an 11.3% rise at constant exchange rates.
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Symrise sees 7% annual organic sales growth on boost from fragrance, taste segments

UPDATE 2-Symrise sees 7% annual organic sales growth on boost from fragrance, taste segments Recasts paragraph 1, adds CEO and analyst quotes in paragraphs 3, 5, 10, adds share moves in paragraph 6, comments on pet food segment and peer's performance in paragraphs 13-14 By Matteo Allievi Oct 24 (Reuters) - Germany's Symrise SY1G.DE forecast an annual organic sales growth of 7% on Thursday, encouraged by a strong momentum in its fragrance and taste segments, although it expects growth to be likel
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French and Benelux stocks-Factors to watch

French and Benelux stocks-Factors to watch Oct 24 (Reuters) - Below are company-related news and stories from France and Benelux which could have an impact on the region's markets or individual stocks. BIC BICP.PA : French pencil manufacturer Bic has upgraded its margin outlook amidst Q3 results CARREFOUR CARR.PA : Europe's largest food retailer maintained its 2024 financial goals.
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Kering seeing no improvement for Gucci in U.S., says CFO

Kering seeing no improvement for Gucci in U.S., says CFO PARIS, Oct 23 (Reuters) - Kering PRTP.PA is seeing no improvement for its biggest brand Gucci in the U.S. and is also suffering in the Asia Pacific region, particularly China, Chief Financial Officer Armelle Poulou said on a call with analysts on Wednesday. Kering warned that its 2024 operating income would almost halve to its lowest in years as it posted weaker than expected third-quarter sales.
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Kering Reports Q3 Revenue At Eur 3.79 Billion, Expects FY ROI At Around 2.5 Billion Euros

BRIEF-Kering Reports Q3 Revenue At Eur 3.79 Billion, Expects FY ROI At Around 2.5 Billion Euros Oct 23 (Reuters) - Kering SA PRTP.PA : Q3 REVENUE EUR 3.79 BILLION VERSUS EUR 3.95 BILLION (CONSENSUS CITED BY BARCLAYS) Q3 GUCCI REVENUE EUR 1.64 BILLION VERSUS EUR 1.75 BILLION (CONSENSUS CITED BY BARCLAYS) EXPECTS 2024 RECURRING OPERATING INCOME AT AR
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France's Kering warns on 2024 operating profit as Gucci sales fall

UPDATE 2-France's Kering warns on 2024 operating profit as Gucci sales fall Kering says 2024 operating income could drop to 2.5 bln euros Group's Q3 sales fell 16% on an organic basis, missing estimates Gucci sales fell 25% in Q3, worse than expected Company struggling to revive Gucci sales Kering shares have fallen 42% this year Adds context and analyst comments in paragraphs 5,7-8; CFO comments and background from paragraph 17 By Mimosa Spencer PARIS, Oct 23 (Reuters) - Kering PRTP.PA warned o
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Gucci-owner Kering posts 16% fall in Q3 sales on weak China demand

Gucci-owner Kering posts 16% fall in Q3 sales on weak China demand PARIS, Oct 23 (Reuters) - French luxury goods group Kering PRTP.PA warned on Wednesday its full-year operating income would almost halve after reporting a larger-than-expected drop in third quarter sales, as weak demand in China deepened the struggles of its main label Gucci. Revenue for the group which also owns fashion brands Saint Laurent, Balenciaga and Bottega Veneta, was 3.79 billion euros ($4.08 billion), a 16% decline on
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Citi cuts Kering to 'neutral' on weak Chinese demand

BUZZ-Citi cuts Kering to 'neutral' on weak Chinese demand ** Citigroup downgrades French luxury goods company Kering PRTP.PA to "Neutral" from "Buy", citing degraded macro, especially in China, and reduced recovery opportunities ** Citi notes reduced turnaround opportunities for the co's brands, as consumer shift to top brands and Kering faces lowe
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Europe's STOXX 600 ends week higher as tech stocks rebound

UPDATE 2-Europe's STOXX 600 ends week higher as tech stocks rebound For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window. Luxury stocks aid gains on France's CAC 40 Elisa slumps on unexpected Q3 revenue fall Goldman Sachs slashes STOXX 600 2024 earnings growth forecast STOXX 600 up 0.2% Updated at 1602 GMT By Paolo Laudani, Ankika Biswas and Johann M Cherian Oct 18 (Reuters) - Europe's STOXX 600 ended higher on Friday, as tech stocks made a s
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French luxury stocks top CAC 40 as market makes most of dip created by LVMH's miss

BUZZ-French luxury stocks top CAC 40 as market makes most of dip created by LVMH's miss ** Shares in French luxury stocks lead gains on France's CAC 40 .FCHI blue-chip index ** Shares in Kering PRTP.PA jump 4.4% and LVMH LVMH.PA rise more than 3%, while Hermes HRMS.PA is up 1.8% ** Bernstein analysts Luca Solca says LVMH's Q3 miss from Tuesday has
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European tech, luxury stocks tumble as ASML, LVMH results disappoint

UPDATE 2-European tech, luxury stocks tumble as ASML, LVMH results disappoint For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window. France's CAC 40 underperforms peers on luxury drag Adidas drops amid broader selloff despite third 2024 outlook Spain's IBEX closes at highest since January 2010 ECB's interest rate decision due on Thursday Updated at 1600 GMT By Paolo Laudani, Ankika Biswas and Johann M Cherian Oct 16 (Reuters) - Europe's STOXX
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