Companies

Leading French luxury stocks fall after latest U.S. tariff threats

Credit: REUTERS/Darley Shen

Shares in leading French luxury companies fell on Tuesday after the United States issued a new set of tariff threats on French products.

PARIS, Dec 3 (Reuters) - Shares in leading French luxury companies fell on Tuesday after the United States issued a new set of tariff threats on French products.

On Monday, the U.S. government said it may slap punitive duties of up to 100% on $2.4 billion of imports from France of champagne, handbags, cheese and other products, after concluding that France's new digital services tax would harm U.S. tech companies.

Shares in French luxury handbag maker Hermes HRMS.PA fell by around 2%, while luxury goods companies LVMH LVMH.PA and Kering PRTP.PA fell 1.5% and 1.2% respectively.

Glass bottle maker Verallia VRLA.PA, which makes glass containers to brands such as Dom Perignon champagne, fell 2.5%.

(Reporting by Sudip Kar-Gupta and Benoit Van Overstraeten; Editing by Andrew Heavens and Alison Williams)

((sudip.kargupta@thomsonreuters.com; +33 1 49 49 53 84;))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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