Richemont seen up 2% after small Q1 sales beat reassures
** Shares in Richemont CFR.S are seen up around 2% after the Swiss luxury goods group reported first-quarter sales slightly ahead of expectations, driven by growth at Jewellery Maisons
** At constant exchange rates sales rose by 1% compared to Visible Alpha consensus of 0.5% growth, cited by Jefferies
** The results should be met with "some relief" after its peer Swatch Group UHR.S reported a sharp drop in sales and earnings, Jefferies says in a note
** "Reassuring, robust sales performance from Richemont, given the shock of Burberry and Swatch Group yesterday," Vontobel notes
** Jewellery Maisons isshowing great resilience with strong demand across the board, Vontobel says, adding that customers recognize the intrinsic value of jewellery compared to, for example, handbags
** Richemont's stock is seen on the top of Swiss blue-chips index .SSMI
Reporting by Amir Orusov, Anastasiia Kozlova
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