Shares in Richemont fell sharply on Friday after the Swiss luxury-goods group signalled that sales growth had stalled in September, adding to fears of ebbing Chinese luxury demand. Richemont said growth had fizzled out towards the end of the six months to the end of September, which it blamed on setbacks in the Asia-Pacific region. The admission fuelled fears of a drop in Chinese demand for luxury goods amid global trade tensions which have hit the shares of other luxury groups such as France's LVMH and Tiffany in the US. By lunchtime in Zurich, Richemont's shares were down 7% at SFr68.64 (R972), and about 25% lower than a year earlier. "The market is extremely nervous. When you get this 'end of cycle' in luxury, stocks will be a lot more volatile," said Jon Cox, equity analyst at Kepler Cheuvreux in Zurich. He said, however, he did not believe the slowdown would be as severe as that which followed the clampdown on "gifting" by Chinese authorities. Richemont said sales rose 8% at co...

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