Shares in European drinks, luxury brands rise on U.S. tariffs relief [Reuters]
PERNOD RICARD UNSP/ADR (PDRDY)
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Source: Reuters
Shares in European drinks, luxury brands rise on U.S. tariffs relief - Reuters 1 Min Read LONDON (Reuters) - Shares in European luxury and drinks companies rose at the open on Thursday after new tariffs slapped by the United States in retaliation for illegal EU aircraft subsidies were in line with expectations or less than feared, traders said. At 0730 GMT, Remy Cointreau ( RCOP.PA ) shares were up as much as 6.4% and set for their best day since Jan. 19 2017, the top gainer on STOXX 600 . Pernod Ricard ( PERP.PA ) shares topped Paris’ blue chip stocks index, up 3.5% and on track for their best day since Aug. 21. Traders were relieved the tariff list excluded cognac and champagne and the exclusion of leather goods was reassuring for the luxury goods brands. “Overall (it) represents a light touch,” said Jefferies analyst Edward Mundy who said the news was most positive for Remy and Pernod. Reporting by Julien Ponthus and Joice Alves; editing by Josephine Mason All quotes delayed a
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