UPDATE 1-Luxury stocks drag European equities lower ahead of Fed meeting [Yahoo! Finance]
JOHNSON MATTHEY S/ADR (JMPLY)
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Source: Yahoo! Finance
Lonza to buy biologics site from Roche in US for $1.2 bln Johnson Matthey to sell medical device parts unit for $700 mln (Updated at 8:58 GMT) By Khushi Singh March 20 (Reuters) - European shares moved lower on Wednesday, weighed down by a sell-off in luxury stocks over sales warning from Kering, while investors remained cautious ahead of Federal Reserve's monetary policy outcome due today. The pan-European STOXX 600 index was down 0.2% by 8:58 GMT. Leading sectoral declines, the personal and household goods index fell 1.9%, pressured by a decline in the European luxury stocks. Kering shares tumbled 14.8% after the French luxury goods group warned its first-quarter sales are likely to drop by around 10%, weighed down by star label Gucci due to weakness in Asia. The stock looks set for its biggest one-day drop on record if losses persist. Combined with a profit warning from Burberry in January, the high-end sector is grappling with a worsening slowdown in demand for lu
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