Shares fall as luxury sector hit by weak Richemont earnings

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Shares fall as luxury sector hit by weak Richemont earnings
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Second biggest luxury goods firm slumps by 10% amid poor sales

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closed at €12.75, up 0.4 per cent over the day.The blue-chip FTSE 100 lost 0.4 per cent, while the more domestically focused FTSE 250 midcap index fell 0.9 per cent.

Focus now shifts to UK consumer prices data due Wednesday, after data last week showed US inflation easing. UK’s inflation is expected to ease slightly in June to 8.2 per cent from 8.7 per cent a month ago.

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