European Debt Crisis Affects Luxury Industry In Milan

Worries about European debt crisis and luxury for Italy Price of stock The Milan Bourse has dropped by 4 percentage points, and officials have even stepped in to prevent short-term sales.

The policy of retrenchment introduced in Greece has already received a lot of attention. With the continuous increase of European financial problems, the luxury industry in Italy has also been affected.

Milan Bourse dropped 750 points to 18295.19, French CAC dropped 2.7 percentage points to 3807.51, Frankfurt DAX dropped 2.3 percentage points to 7230.25, London FTSE 100 dropped 1.1 percentage points to 5927.89. Even Wall Street's S&P consumption index dropped by 1.7 percentage points to 545.12.

"We can't see clearly now," said Massimo Ferretti, President of Aeffe SpA. market There is a lot of speculation now. "

Mr. CEO Guido Damiani, Damiani brand, said: "the market has been very fragile, and now the situation of Greece and Portugal has worsened, but on the other hand, many countries have begun to pick up again. For Italy, although consumer spending is still sluggish, the decline has stopped. "

Marcolin SpA's share price dropped 7.6% to 6.38 dollars, Aeffe shares fell 6 percentage points to 1.62 dollars, Tod 's SpA dropped 5.4 percentage points to 125.75 dollars, Salvatore Ferragamo fell 4.7 percentage point to 14.39 dollars.

　　 Luxury goods Analysts say this market trend is within the expected range, because macroeconomic problems are at work. In addition, Italy's political problems are also a factor affecting stock prices. But the current situation in Italy is worrisome. The share prices in the US and the UK are closely related to the market in Italy. Investors seem to feel that the Italy market is facing enormous challenges.