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Pin to quick picksWatches Switz Share News (WOSG)

Share Price Information for Watches Switz (WOSG)

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Share Price: 340.80
Bid: 340.40
Ask: 341.00
Change: -0.20 (-0.06%)
Spread: 0.60 (0.176%)
Open: 343.60
High: 343.80
Low: 339.00
Prev. Close: 341.00
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European shares advance as chipmakers rally, earnings a bright spot

Thu, 18th Jan 2024 17:08

Richemont jumps on Q3 sales beat

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Watches of Switzerland drops on FY forecast cut

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Upbeat TSMC results lift chipmakers

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STOXX 600 up 0.6%

Jan 18 (Reuters) - European shares bounced back on Thursday following three straight sessions of losses, buoyed by Richemont and Flutter's upbeat results, while investors parsed the European Central Bank's December policy meeting minutes.

The pan-European STOXX 600 index ended 0.6% higher after falling to a six-week low in the previous session.

Supporting the benchmark index, shares of Richemont climbed 10.4% after the Cartier jewellery owner's third-quarter sales exceeded forecasts after a revenue jump in China.

Other luxury stocks, including LVMH and Kering , added 2.5% and 2.2%, respectively, boosting the personal and household good index 1.3%.

Watches of Switzerland slumped 36.7%, logging its biggest single-day percentage drop yet after the luxury retailer cut its annual revenue and profit margin forecast.

ECB policymakers meeting last month appeared confident that inflation was heading back to target but saw risks that warranted steady policy and high borrowing costs, the accounts of the December policy meeting showed.

"If we look at the minutes from the ECB, a couple of points that stand out are the acknowledgment of better than expected inflation data and an element of caution related to wages," said Georgios Leontaris, CIO - Switzerland and EMEA at HSBC Global Private Banking and Wealth in Geneva, Switzerland.

"Wages are still a little bit elevated, not just in Europe, in the UK and the U.S. also, but clearly, it was that wages element that perhaps prevented the ECB governing council to give more credence on cuts in the December meeting."

The recent remarks from policymakers to manage market expectations have caused traders to scale back rate-cut bets, with the first cut now being priced in for April instead of March.

The focus has shifted to the ECB's January policy decision, with the bank entering its quiet period before next week's meeting.

Among corporate updates, online betting giant Flutter jumped 15.3% after analysts said fourth-quarter market share gains and stronger-than-expected win margins in the fast growing U.S. market augured well for 2024.

Flutter's shares lifted the travel and leisure index up 5.2%, while Irish stocks advanced 3.9%, logging their best single day performance in over a year.

The food and beverages index was a drag, down 0.5%, led by a 1.8% fall in Campari after RBC Capital Markets downgraded the Italian spirits maker to "underperform" from "sector perform" over concerns of volatility in recent quarterly results.

The technology sector, which houses the bulk of Europe's chipmaker companies, rose 2.9%, tracking positive quarterly results from Taiwanese chipmaker TSMC . (Reporting by Shristi Achar A and Shashwat Chauhan in Bengaluru; Editing by Sherry Jacob-Phillips and Barbara Lewis)

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7 Nov 2023 10:05

TOP NEWS: Watches of Switzerland hails growth chances as revenue rises

(Alliance News) - Watches of Switzerland Group PLC on Tuesday hailed growth opportunities in the UK, US and Europe as it reported an improved second-quarter, despite a "difficult consumer environment".

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7 Nov 2023 09:35

Watches of Switzerland revenues tick higher; growth plans outlined

(Sharecast News) - Watches of Switzerland surged on Tuesday as it reiterated full-year guidance, posted a jump in second-quarter revenue and outlined plans to more than double sales and profits by FY28.

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7 Nov 2023 09:28

LONDON BROKER RATINGS: Watches of Switzerland impresses HSBC; Asos cut

(Alliance News) - The following London-listed shares received analyst recommendations Tuesday morning and Monday:

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7 Nov 2023 08:53

LONDON MARKET OPEN: AB Foods and Frasers rise on buybacks; RS slumps

(Alliance News) - A subdued start to the week for European equities continued on Tuesday, with hawkish words from a US central banker supporting the dollar and making some rethink their interest rate outlook for the Federal Reserve.

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7 Nov 2023 07:43

LONDON BRIEFING: AB Foods hails Primark; Beazley premiums rise

(Alliance News) - London's FTSE 100 is called to open in the red on Tuesday, following Asian equities lower, as the good feeling in equity markets after the softer US jobs data on Friday gives way to some caution.

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31 Oct 2023 15:47

UK earnings, trading statements calendar - next 7 days

Wednesday 1 November 
Asos PLCFull Year Results
Aston Martin Lagonda Global Holdings PLCQ3 Results
Beximco Pharmaceuticals LtdFull Year Results
GSK PLCQ3 Results
Next PLCTrading Statement
Smurfit Kappa Group PLCTrading Statement
Weir Group PLCTrading Statement
Thursday 2 November 
BT Group PLCHalf Year Results
Derwent London PLCTrading Statement
Entain PLCTrading Statement
Haleon PLCQ3 Results
Helios Towers PLCQ3 Results
Hikma Pharmaceuticals PLCTrading Statement
Howden Joinery Group PLCTrading Statement
J Sainsbury PLCHalf Year Results
Kin & Carta PLCFull Year Results
OSB Group PLCTrading Statement
Shell PLCQ3 Results
Smith & Nephew PLCQ3 Results
TI Fluid Systems PLCTrading Statement
Trainline PLCHalf Year Results
Friday 3 November 
no events scheduled 
Monday 6 November 
Kingspan Group PLCTrading Statement
Kosmos Energy LtdQ3 Results
Ryanair Holdings PLCHalf Year Results
Tuesday 7 November 
Associated British Foods PLCFull Year Results
Beazley PLCQ3 Results
Direct Line Insurance Group PLCTrading Statement
dotdigital Group PLCFull Year Results
IWG PLCQ3 Results
Persimmon PLCTrading Statement
Vaalco Energy IncQ3 Results
Watches of Switzerland Group PLCTrading Statement
  
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23 Oct 2023 09:24

LONDON BROKER RATINGS: Jefferies raises Tullow Oil to 'hold'

(Alliance News) - The following London-listed shares received analyst recommendations Monday morning:

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18 Oct 2023 09:39

LONDON BROKER RATINGS: Citigroup cuts Wizz Air to 'sell'

(Alliance News) - The following London-listed shares received analyst recommendations Wednesday morning and Tuesday:

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13 Oct 2023 09:06

IN BRIEF: Crest Nicholson hires ex-Watches, Rank CFO to head finance

Crest Nicholson Holdings PLC - Surrey, England-based housebuilder - Hires William Floydd as finance director designate, effective from November 13. Follows mid-July announcement that current Finance Director Duncan Cooper will leave Crest Nicholson in January to become chief financial officer at builders' merchant Travis Perkins PLC. Floydd most recently was CFO of Watches of Switzerland Group PLC from January 2022 until May this year. He previously was CFO at Rank Group PLC from 2018 to 2021, after serving as UK & Ireland CFO at Experian PLC from 2013 to 2018. Crest Nicholson Chair Iain Ferguson says he is "delighted" by the appointment due to Floydd's "extensive experience as a [CFO] within the public listed company environment."

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2 Oct 2023 09:41

LONDON BROKER RATINGS: Morgan Stanley cuts NatWest; PageGroup raised

(Alliance News) - The following London-listed shares received analyst recommendations Monday morning and Friday:

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25 Sep 2023 09:13

LONDON BROKER RATINGS: Jefferies raises AstraZeneca to 'buy'

(Alliance News) - The following London-listed shares received analyst recommendations Monday morning:

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12 Sep 2023 09:35

LONDON BROKER RATINGS: Citigroup cuts Pennon; Exane BNP cuts Reckitt

(Alliance News) - The following London-listed shares received analyst recommendations Tuesday morning:

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8 Sep 2023 09:16

LONDON BROKER RATINGS: SocGen raises Next to 'buy' from 'hold'

(Alliance News) - The following London-listed shares received analyst recommendations Friday morning:

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8 Sep 2023 09:04

Rolex exposure has its risks for Watches of Switzerland, says Stifel

(Sharecast News) - The significant exposure that Watches of Switzerland Group (WOSG) has to Rolex is both the group's main investment appeal and a key risk, according to broker Stifel which kicked off coverage of the stock with a 'hold' rating on Friday.

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4 Sep 2023 11:29

Director dealings: Watches of Switzerland insiders buy dip, Woodside execs vest and sell

(Sharecast News) - Watches of Switzerland Group had several entries on the list of director buys on Monday, after it made four separate disclosures to the market.

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