Closing Price — Daily Evening Equity Analysis on Luxury Market

ALT/FNDATA

Closing Price is your end-of-day briefing connecting public equity markets to the global auction and luxury alternative asset markets. Three times a week, host Sharon Obuobi tracks the publicly traded companies behind the world's leading auction houses, luxury brands, and collector markets — with proprietary data from ALT/FNDATA. Learn more about us at www.altfndata.com

Episodes

  1. 1d ago

    BofA Upgrades LVMH and Zegna to Buy; Kering Up 49% Over Three Months

    June 5: BofA Upgrades LVMH and Zegna to Buy; Kering Up 49% Over Three Months======End-of-week edition with analyst upgrades, Pace Gallery restructuring, and the week in review.Tickers covered: MC.PA | ZGN | CFR.SW | UHR.SW | WOSG.L | BRBY.L In this episode: Analyst Upgrades- BofA upgrades LVMH (MC.PA) to Buy- BofA upgrades Zegna (ZGN) to Buy, price objective $8.90 (17% upside)- BofA describes Zegna as "one of the more undervalued stories in luxury"- Kering up ~49% over three months on recent upgrades- LVMH up ~42% over three months, still below 52-week high of EUR 654.70 Zegna — Los Angeles- Summer 2027 runway show staged in LA today- Villa Zegna invitation-only private club opened in Hollywood Pace Gallery — Market Signal- Cutting ~50 artists from roster of 135, staff from 250 to 200- CEO Marc Glimcher: mega-gallery model is "unfixable"- Reflects pressure on primary art market and consignment pipelines Week in Review- Spring auction season: $1.8B across Christie's, Sotheby's, Phillips in May- LVMH (MC.PA): EUR 477, upgraded to Buy by BofA- Richemont (CFR.SW): near record high CHF 161.80- Watches of Switzerland (WOSG.L): up 14% on FY2026 earnings- Swatch (UHR.SW): CHF 215- Burberry (BRBY.L): delayed net zero target from 2040 to 2050- De Beers: average diamond cost $4,063, up 25% from 2023- Swiss watch exports to US: down 17% YoY in April- Hong Kong luxury sales: up 20% YoY in April- Neiman Marcus closing Dallas flagship (Saks Global Ch.11)- Pace Gallery restructuring Auctions Ahead- Sotheby's Magnificent Jewels — June 9, New York- Christie's watches — June 10, New York- Bonhams watches — June 11, London- Phillips watches — June 13-14, New York- Sotheby's watches — June 15, New York- Bonhams National Automobile Museum — June 13, Reno- RM Sotheby's Tegernsee — July 4 Links:- ALT/FNDATA: https://www.altfndata.com- BofA LVMH and Zegna upgrades: https://www.investing.com/news/stock-market-news/lvmh-shares-soar-as-bofa-upgrades-shares-to-buy-sees-15-upside-potential-3816526- Pace Gallery restructuring: https://news.artnet.com/market/pace-gallery-downsizes-cutting-artists-and-staff-2778584- Zegna LA runway: https://wwd.com/menswear-news/mens-designer-luxury/zegna-spring-2027-los-angeles-thom-browne-first-show-milan-fashion-week-1238638812/ Also from ALT/FNDATA:- Open Bid — Mon-Fri at 6 AM ET- Art Market — Tuesdays at 8 AM ET- Luxury Spending — Wednesdays at 8 AM ET- Auto Market — Thursdays at 8 AM ET

    4 min

  2. 2d ago

    Five Watch Auctions in Seven Days; Ferrari 599XX Leads Tegernsee at EUR 2.5M

    June 4: Five Watch Auctions in Seven Days; Ferrari 599XX Leads Tegernsee at EUR 2.5M============================================================Tonight: auto sector equities, Centre Pompidou Seoul opens, and a packed watch auction calendar ahead.Tickers covered: MC.PA | CFR.SW | UHR.SW | RACE | WOSG.L In this episode: Auto Sector Equities- BMW, Mercedes-Benz, and Porsche testing technical support levels- Ferrari (RACE): 29.5% operating margin in 2025, up from 28.3% prior year, on revenue of EUR 7.1B RM Sotheby's Tegernsee Consignment (July 4)- 2009 Ferrari 599XX Evo: EUR 2M–2.5M (headline lot)- 2004 Porsche Carrera GT: EUR 1.2M–1.6M Centre Pompidou Seoul- Centre Pompidou Hanwha opened today in Yeouido, Seoul- 10,000 sqm, designed by Jean-Michel Wilmotte- Inaugural exhibition: "The Cubists: Inventing Modern Vision" — Picasso, Kandinsky, Matisse, Chagall- Partnership with Hanwha Foundation (Hanwha Group, publicly traded on Korea Exchange) Watch Auction Season — June 9-15- Sotheby's Magnificent Jewels — June 9, New York- Christie's watches — June 10, New York- Bonhams watches — June 11, London- Phillips watches — June 13-14, New York- Sotheby's watches — June 15, New York- Swiss watch exports to US fell 17% YoY in April Sector Snapshot at Close- LVMH (MC.PA): EUR 477.10, day range 473–479.75- Richemont (CFR.SW): ~CHF 161.80, near record high- Swatch (UHR.SW): ~CHF 215- Ferrari (RACE): 29.5% operating margin, FY25 revenue EUR 7.1B- Watches of Switzerland (WOSG.L): holding 14% gain from earlier this week Links:- ALT/FNDATA: https://www.altfndata.com- RM Sotheby's Tegernsee lots: https://rmsothebys.com/auctions/tc26/lots/- Ferrari 599XX consignment: https://www.magnetomagazine.com/articles/ferrari-599xx-leads-rm-sothebys-coe-germany-supporting-2026-tegernsee-sale/- Centre Pompidou Hanwha: https://www.centrepompidou.fr/en/lieu/centre-pompidou-hanwha Also from ALT/FNDATA:- Open Bid — Mon-Fri at 6 AM ET- Auto Market — Thursdays at 8 AM ET- Luxury Spending — Wednesdays at 8 AM ET

    4 min

  3. 3d ago

    Swiss Watch Exports Fall 17%; Hong Kong Luxury Sales Up 20%

    June 3: Swiss Watch Exports Fall 17%; Hong Kong Luxury Sales Up 20%Three stories tonight: Swiss watch exports, Hong Kong luxury retail, and the diamond supply picture.---Tickers covered: UHR.SW | CFR.SW | WOSG.L | MC.PA | SIG In this episode: Swiss Watch Exports- Swiss watch exports to the US fell 17% YoY in April- Swatch Group (UHR.SW): trading ~CHF 215- Richemont (CFR.SW): watchmakers down 4% in FY2026, but stock near record high CHF 161.80 on jewelry strength- Richemont jewelry maisons (Cartier, Van Cleef, Vhernier): EUR 16.5B at 30.5% margin- Watches of Switzerland (WOSG.L): surged 14% yesterday on FY2026 earnings, US sales +24% Hong Kong Luxury Retail- Revenue from jewelry, watches, clocks, and valuable gifts up 20% YoY in April- Positive demand signal for Richemont and LVMH, both with significant Hong Kong exposure- LVMH (MC.PA): ~EUR 473, down 26% YTD Diamond Supply- De Beers: average cost of natural mined diamond reached $4,063 in 2025, up 25% from 2023- Kao mine going on care and maintenance from July amid rough-price downturn- Signet Jewelers (SIG): raised full-year guidance on improved sales Sector Snapshot at Close- LVMH (MC.PA): ~EUR 473, down 26% YTD- Richemont (CFR.SW): ~CHF 161.80, near record high- Swatch (UHR.SW): ~CHF 215- Watches of Switzerland (WOSG.L): up 14% yesterday- Signet (SIG): raised FY guidance Links:- ALT/FNDATA: https://www.altfndata.com- Swiss watch exports: https://rapaport.com/news/us-market-continues-to-weigh-on-swiss-watch-exports/- De Beers diamond data: https://rapaport.com/news/natural-diamond-spending-and-sizes-rising-de-beers-says/- Kao mine closure: https://rapaport.com/news/kao-mine-to-shutter-amid-rough-price-downturn/- Signet sales: https://rapaport.com/news/strategic-revamp-still-paying-off-as-signet-sales-improve/ Also from ALT/FNDATA:- Open Bid — Mon-Fri at 6 AM ET- Luxury Spending — Wednesdays at 8 AM ET

    4 min

  4. 4d ago

    Watches of Switzerland Surges 14%; Richemont Named Top Pick at Four Banks

    June 2, 2026: Watches of Switzerland Surges 14%; Richemont Named Top Pick at Four Banks============================================================Tickers covered: WOSG.L | CFR.SW | MC.PA | KER.PA | UHR.SW In this episode: Watches of Switzerland (WOSG.L — LSE)- Stock surged 14% on FY2026 earnings- Group sales: GBP 1.83B, up 13% at constant currency- US sales: +24% YoY, now more than half of group revenue- FY2027 guidance: 5-10% growth at constant currency Analyst Ratings- Deutsche Bank adds Richemont to "Most Preferred" alongside LVMH and Burberry- Richemont now consensus top pick across Deutsche Bank, UBS, JPMorgan, and HSBC- Kering and Moncler designated "Least Preferred" by Deutsche Bank- Kering (KER.PA) ex-dividend today at EUR 2.75 per share China Outlook- Bain & Co projects Chinese luxury spending +6% in 2026, reversing -5% in 2025- Chinese shoppers account for more than 25% of annual global luxury sales- Structural shift toward luxury experiences (hospitality, cruises, dining) and away from traditional goods Sector Snapshot at Close- LVMH (MC.PA): ~EUR 473, down 26% YTD- Richemont (CFR.SW): near record high CHF 161.80- Swatch (UHR.SW): CHF 215- Watches of Switzerland (WOSG.L): up 14% today- Kering (KER.PA): ex-dividend EUR 2.75 Links:- ALT/FNDATA: https://www.altfndata.com- Watches of Switzerland Q4 2026 earnings: https://www.investing.com/news/transcripts/earnings-call-transcript-watches-of-switzerland-q4-2026-sees-stock-surge-93CH-4687393- Deutsche Bank luxury ratings: https://www.cityam.com/city-broker-downgrades-outlook-for-luxury-stocks-lvmh-burberry-and-richemont/- Richemont FY2026 results: https://www.richemont.com/news-media/press-releases-news/richemont-delivers-strong-sales-growth-and-solid-results-for-the-year-ended-31-march-2026/ Also from ALT/FNDATA:- Open Bid — Mon-Fri at 6 AM ET- Art Market — Tuesdays at 8 AM ET

    4 min

  5. 5d ago

    LVMH at 52-Week Low as Christie's Posts $1.1B Night

    June 1: LVMH at 52-Week Low as Christie's Posts $1.1B Night============================================================Four publicly traded luxury houses and what the $1.8 billion spring auction season means for their stock.Tickers covered: MC.PA | CFR.SW | RACE | BRBY.L | ZGN In this episode: LVMH (MC.PA — Euronext Paris)- Stock: EUR 473, down 26% YTD- 52-week range: EUR 436.55 – EUR 654.70- Q1 revenue: EUR 19.1B, down 6% YoY- Christie's spring evening session: $1.1B- Top lot: Jackson Pollock "Number 7A, 1948" at $181M Richemont (CFR.SW — Swiss Exchange)- FY2026 sales: EUR 22.4B, up 11% at constant rates- Net profit: EUR 3.5B, up 27%- Jewelry maisons (Cartier, Van Cleef, Vhernier): EUR 16.5B at 30.5% margin- Watchmakers: EUR 3.1B, down 4%- Shares reached record high CHF 161.80- Sotheby's High Jewelry: $31.4M, 95% sell-through- June 9: 73.11-carat Fancy Vivid Yellow diamond by Glenn Spiro Ferrari (RACE — NYSE)- Q1 revenue: EUR 1.85B, up 3%- Deliveries: 3,436 units, down 4.4% (deliberate slowdown)- FY2026 guidance: ~EUR 7.5B reaffirmed- Bonhams The Market: 2009 Ferrari California ~$34,000 Burberry (BRBY.L — LSE)- FY2026 adj. operating profit: GBP 160M (prior year: GBP 26M)- Americas and China: +10%- Stock dropped ~7% on results day (Europe/Middle East weak)- Net zero target delayed from 2040 to 2050- BRBY up 17% over 12 months Week ahead:- Zegna (ZGN) runway show in Los Angeles, Friday- RM Sotheby's boutique auction, Bavaria, Thursday-Friday- Sotheby's Magnificent Jewels, New York, June 9 Links:- ALT/FNDATA: https://www.altfndata.com- Richemont FY2026 results: https://www.richemont.com/news-media/press-releases-news/richemont-delivers-strong-sales-growth-and-solid-results-for-the-year-ended-31-march-2026/- Ferrari Q1 2026 earnings: https://qz.com/ferrari-q1-2026-earnings-beat-guidance-ev-luce-050526- Burberry net zero delay: https://www.businessoffashion.com/news/sustainability/burberry-delays-net-zero-emissions-target-by-10-years-to-2050/- Sotheby's High Jewelry results: https://www.sothebys.com/en/articles/sothebys-sale-of-high-jewelry-in-new-york-achieves-31-4-million-95-lots-sold Also from ALT/FNDATA:- Open Bid — Mon-Fri at 6 AM ET: Your daily briefing on global auctions and luxury alternative assets

    5 min
  • 5 Episodes

About

Closing Price is your end-of-day briefing connecting public equity markets to the global auction and luxury alternative asset markets. Three times a week, host Sharon Obuobi tracks the publicly traded companies behind the world's leading auction houses, luxury brands, and collector markets — with proprietary data from ALT/FNDATA. Learn more about us at www.altfndata.com

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