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Rapaport TradeWire May 25, 2017
May 26, 2017 12:56 AM
By Rapaport
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| May 25, 2017 | | RAPAPORT MARKET COMMENT |  | | Mixed mood as dealers prepare for Las Vegas shows. Slow polished market lacking usual pre-show buzz. Suppliers looking to assess retail atmosphere ahead of 2017 holiday season. Major jewelers under pressure as Tiffany shares plunge approximately -8% after 1Q sales +1% to $900M, net earnings +6% to $93M. Signet Jewelers shares slump about -9% as 1Q sales -11% to $1.4B, profit -52% to $70M, outsources credit portfolio. Rough market resilient. US March polished imports -3% to $2B, polished exports +7% to $1.6B. De Beers to start polished auctions in June. THE RAPAPORT PRICE LIST WILL NOT BE PUBLISHED ON JUNE 2 DUE TO THE JEWISH HOLIDAY OF SHAVUOT. | | | RAPNET DIAMOND INDEX (RAPI™) | | | | Weekly | Monthly | Y2Y | | 0.30 ct | -0.07% | 0.14% | 1.86% | | 0.50 ct | -0.35% | -1.45% | -12.46% | | 1.00 ct | -0.07% | 0.16% | -7.58% | | 3.00 ct | -0.39% | 1.06% | 0.46% |  | | The RapNet Diamond Index (RAPI™) is the average asking price in hundred $/ct. of the 10 percent best priced diamonds, for each of the top 25 quality round diamonds (D-H, IF-VS2, GIA-graded, RapSpec-A3 and better) offered for sale on RapNet - Rapaport Diamond Trading Network. | | | | Market Reports | | |  | United States: Polished trading slows ahead of Las Vegas shows. Many wholesale and retail jewelers still unsure about their attendance... |  |  | Belgium: Steady market, but European buyers cautious after Manchester terror attack. Good dealer demand for 0.30 to 0.40 ct., D-J, VS-SI, RapSpec A2 and improving demand for 0.50 to 0.80 ct., D-J, VS-SI diamonds... | | |  | Israel: Sentiment positive despite sluggish trading as more than 60 Israeli companies are participating in the JCK Las Vegas show... | | |  | India: Activity relatively slow, with some dealers still on vacation through May school holidays. Very few overseas buyers in the market... | | |  | Hong Kong: Polished market stable during traditionally quieter period of the year. Dealers focused on lower colors and clarities, reflects shift in consumer demand toward lower qualities and price points... | | |  | | | WEEKLY NEWS | | industry | | | | Hong Kong Dealers Face Random Synthetics Checks | | Diamond federation aims to boost consumer confidence with quality-assurance program. |  | | | WDM Campaign Tells Diamond Stories | | Promotion features Indian woman, bearded bagpipe player wearing jewelry. | | | | | US Polished Imports Slip in March | | Israel’s exports to America jump 13%. | | | | | Swiss Watch Exports Run Slow Again | | Hong Kong and US orders weak in April. | | | | | retail | | | | Woes Continue for Signet as Sales Slide | | High-end jewelry performs better than lower-cost categories. | | | | | Weak US Spending Drags Down Tiffany Sales | | Luxury retailer’s stock drops despite rise in net profit. | | | | | Jeweler TSL Suffers from Hong Kong Slowdown | | Weak consumer sentiment in the municipality outweighs better performance in mainland China. | | | | | Theo Fennell Hands Control to Rescuers | | Upmarket UK jeweler could not deal with high costs of restructuring. | | | | | mining | | | | Gareth Penny Leads Botswana Mine Purchase | | Former De Beers CEO joins with manufacturer of world’s most expensive diamond to buy BK11 asset. | | | | | Gemfields Faces Buyout from Main Investor | | Pallinghurst offer values colored-gemstone miner at $276M. | | | | | Alrosa, Angola Sign Deal on New $35B Mine | | Luele deposit is the Russian miner’s largest discovery in 60 years. | | | | | Untapped Ekati Pipe May Hold 16M cts. | | Dominion projects Leslie resource will yield $85 per carat. | | | | | general | | | | De Beers Mourns Jennifer Oppenheimer | | Wife of Jonathan Oppenheimer was a former head of the De Beers Fund. | | | | | MJSA Awards Honor Up-and-Coming Designers | | Winners get cash prizes, assistance in promoting work. | | | | | Head of UK Jewelry Body Steps Down | | NAJ CEO Michael Rawlinson oversaw merger that created the organization. | | | | | | FINANCE | | Diamond Industry Stock Report | | | | Jewelry majors underperformed compared with the US stock market, with the Dow Jones gaining 2%. Signet (-7.4%) fell following an analyst’s downgrading, exacerbated by weak quarterly results, while Tiffany (-6.6%) also reported a sales drop amid a challenging market for brick-and-mortar retail. By contrast, more positive earnings for Walmart (+4%) — driven by an improvement in online sales — helped the store chain record one of the strongest retail stock performances of the week. | | | | | Contact Us |  |       | | © Copyright 2017 Martin Rapaport. All Rights Reserved. | | Rapaport®, TradeWire®, RapNet®, Index® and JNS® Jewelry News Service are registered trademarks. | |
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