Morning Bites

💍 Sales at Richemont’s Jewellery Maisons jumped 21% YoY in 2Q26, after the 7% YoY gain in 1Q26, the company has reported in a press-release. Richemont highlighted that the sales growth was supported by robust local demand across key markets and improving tourism trends

Despite the overall solid downstream demand, we maintain our cautious view on the medium-term prospects for a recovery in the global diamond market, given the risks to supply discipline posed by Anglo American's planned sale of De Beers (which is currently disrupting the price-over-volume strategy), as well as geopolitical concerns

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