Uncertainty with progress with autos and services leading the declines finlands 10year bond yield jumps into positive territory. Risen the most since President Trumps election good morning and welcome to the show shares in richemont are deep in the read double digit revenue declines. The key market in hong kong overshadowed by the u. S. This is in contrast with other results. Talking about the likes of lvmh. Hermes is still slightly positive swatch down about 1 Christian Dior down about a quarter. So not immune, but you can see they are standing out today. I want to bring in our guest to discuss this in a little more detail last week, we were talking about the resilience of these luxury groups particularly lvmh and hermes not the case for richemont why is that . They have an average of 5 in hong kong while richemont has 10 . The departments that perform most are leather goods, jewelry and in part jewelry and watches. We see jewelry that is more resilient. Lets talk about hong kong expo
Im francine lacqua. Lets get straight to the bloomberg first word news with nejra cehic. Nejra frances foreign minister says there is total cooperation between his country and egypt after a plane flying from paris to cairo vanished over the mediterranean. The mystery surrounding the disappearance has deepened after greek authorities dismissed reports that debris from the aircraft and been found. Investigators say flight 804 made a series of terms before descending rapidly. 66 passengers and crew were on board. The pilots sent no distress signals. Aircraft washe approximately 10 to 15 miles inside egyptian airspace at an altitude of 37,000 feet, executed a turn 90 degrees left, then a turn of 360 degrees to what the right, dropping from 37,000 to 15,000 feet, and then the picture we had was lost at about 10,000 feet. Nejra new york fed president bill dudley says the Federal Reserve is moving closer to raising Interest Rates. His remarks echo sentiment in minutes at the fomcs april meeti