Luxury stocks are at the bottom of most European stock markets after Kering, Gucci’s parent company, and Hermès have disappointed the market after publishing results for the first quarter of 2026, which have been clearly affected by the effects of the war between the United States, Israel and Iran. Hermès shares sank 14%, while Kering fell 10%. These results also dragged down the rest of the sector, with Burberry, Christian Dior, LVMH and Moncler among the worst performers on the pan-European Stoxx 600 index, with falls of between 2% and 3%.
