1157 GMT - European luxury companies continue to face volatile and generally fragile momentum, analysts at J.P. Morgan write in a note to clients. The industry reported better trends in the second quarter, with a broad-based improvement across the space, they say. Divergence between companies continued, with jewelry brands extending their outperformance even further, along with high-end ready-to-wear, the analysts say. Meanwhile, consumers are starting to react to newness in leather-goods products, but the category remains muted, the bank says. In particular, large soft-luxury groups--focused on fashion, footwear and accessories--are still showing flattish to negative volumes despite U.S. tailwinds, the analysts add.
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