Lucy Sylva
Digital Sales - UK
Summary: European IPOs are the current trend, Puig the Beauty group owning brands like Charlotte Tilbury or Carolina Herrera is going public on Friday and the demand from investors is exceeding the size of the deal.
We have seen recently that the Luxury sector presented mixed results, LVMH is down 10.5% from last year while Hermes is up 16.8% YoY... Still the industry is in a downward trend, partly due to the decrease in demand from Chinese clients and the end of the post pandemic luxury boom.
But Puig sees itself as an affordable luxury group which traditionally makes it a bit more immune to these slowdowns. The global premium beauty player with a curated portfolio of beauty and fashion brands closed 2023 with record net revenues of 4,304 million euros, an increase of 19% on 2022.
Puig shares will be available for trading on the Saxo platform on Friday.
Adding some fuel to the sector, Hong Kong-listed L'Occitane shares jumped 12.9% on Tuesday after chairman and controlling shareholder, Reinold Geiger, said he will take the skin-care firm private, giving it an equity value of 6 billion euros ($6.4 billion).
2024: The wasted year
Markets are driven by election optimism, overshadowing growing debt and liquidity concerns. The 2024 elections loom large, but economic fundamentals and debt issues warrant cautious investment.
As US economic slowdown hints at a shift away from exceptionalism, USD faces downside with looming Fed cuts. AUD and NZD set to outperform as their rate cuts lag. JPY gains on carry unwind bets and BOJ pivot.
Amid AI and obesity drug excitement, equities see varied prospects: neutral on overvalued US stocks, negative on Japan due to JPY risks, positive on Europe. European defence stocks gain appeal.
With the economic slowdown, quality assets will gain favour, especially sovereign bonds up to 5 years. Central banks' potential rate cuts in Q2 suggest extending duration, despite policy and inflation concerns.
Commodities poised for rebound. The "Year of the Metal" boosts gold and silver, copper awaits rate cuts. Grains may recover, natural gas stabilises. Gold targets $2,300-$2,500/oz, copper's breakout could signal growth.
Markets are driven by election optimism, overshadowing growing debt and liquidity concerns. The 2024 elections loom large, but economic fundamentals and debt issues warrant cautious investment.
As US economic slowdown hints at a shift away from exceptionalism, USD faces downside with looming Fed cuts. AUD and NZD set to outperform as their rate cuts lag. JPY gains on carry unwind bets and BOJ pivot.
Amid AI and obesity drug excitement, equities see varied prospects: neutral on overvalued US stocks, negative on Japan due to JPY risks, positive on Europe. European defence stocks gain appeal.
With the economic slowdown, quality assets will gain favour, especially sovereign bonds up to 5 years. Central banks' potential rate cuts in Q2 suggest extending duration, despite policy and inflation concerns.
Commodities poised for rebound. The "Year of the Metal" boosts gold and silver, copper awaits rate cuts. Grains may recover, natural gas stabilises. Gold targets $2,300-$2,500/oz, copper's breakout could signal growth.
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