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Rapaport TradeWire November 30, 2017
Nov 30, 2017 11:17 AM
By Rapaport
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| November 30, 2017 | | RAPAPORT MARKET COMMENT |  | | Holiday season begins with better-than-expected in-store and online traffic over Thanksgiving weekend. Average spend +15% to $335 per consumer, driven by older millennials, reports NRF. Cyber Monday breaks records with $6.6B in online purchases, according to Adobe Digital Insights. Optimism continues as stock markets hit new highs (Dow at 23,959). Polished market stable with caution over large stones. Tiffany & Co. 3Q sales +3% to $976M, profit +5% to $100M. Luk Fook 1H sales +15% to $805M, profit +20% to $67M. Christie’s HK garners $94M as oval, 14.93 ct., fancy vivid pink, VVS1 diamond fetches $32M ($2.1M/ct.). Sierra Leone Peace Diamond to be auctioned in New York on Dec. 4.
| | | RAPNET DIAMOND INDEX (RAPI™) | | | | Weekly | Monthly | Y2Y | | 0.30 ct | -0.46% | -0.25% | -1.20% | | 0.50 ct | -0.16% | -0.35% | -20.15% | | 1.00 ct | -0.26% | -0.75% | -6.62% | | 3.00 ct | -0.27% | -0.01% | 3.86% |  | | 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: Sentiment improving after busy Black Friday and Cyber Monday... |  |  | Belgium: Rough tenders robust with high prices relative to polished... | | |  | Israel: Steady polished trading with dealers filling US and Asia demand... | | |  | India: Manufacturers shifting to smaller goods to maintain factory operations and garner better margins... | | |  | Hong Kong: Optimistic mood with better activity than last year and positive retail sales growth... | | |  | | | WEEKLY NEWS | | industry | | | | What We Know About Meghan Markle’s Ring | | Three-stone piece features center diamond from Botswana and two from Princess Diana’s collection. |  | | | Christie’s Hong Kong Sells Pink Diamond for $32M | | Silicon Valley diamantaire recut the stone from a larger piece with a lower color grade. | | | | | Pink Diamonds Shine at Alrosa Polished Auction | | Russian miner sells all 262 lots at Israel event. | | | | | retail | | | | Mobile-Savvy Millennials Drive Cyber Monday Jump | | Consumers now highly efficient choosing which retail website to go to. | | | | | Online Sales Surge on Black Friday | | Figures suggest brick-and-mortar retail is still alive. | | | | | China Recovery Lifts Tiffany | | Fashion jewelry and solitaires among the strongest categories in third fiscal quarter. | | | | | Luk Fook Sees Further Growth in China | | Hong Kong jeweler accelerating its store expansion after strong first half results. | | | | | Birks Sales Sink as Transition Continues | | Disposal of Mayors subsidiary enabled jeweler to reduce debt and implement growth strategy. | | | | | mining | | | | De Beers Plans to Sell South Africa Mine | | Lower-cost operator would have a better chance of maximizing value at Voorspoed, miner believes. | | | | | Rough Demand Firm at Gahcho Kué Sale | | Prices rise 2% at Mountain Province’s ninth tender of the year. | | | | | Lucapa Sells $7M of Angola Rough | | Miner achieves average price of $1,770 per carat. | | | | | general | | | | Rapaport Launches Education Platform | | First course, “Fundamentals of Diamond Trading,” focuses on commercial and practical aspects of the diamond trade. | | | | | RJC to Expand with New Development Hire | | Edward Johnson will work to improve relationships with members and others in the industry. | | | | | De Grisogono Moves to Larger New York Store | | Swiss jeweler opens boutique on Madison Avenue. | | | | | India’s ICEX to Offer 0.50ct. Diamond Futures | | Trading was previously only in 1-carat stones. | | | | | | FINANCE | | Diamond Industry Stock Report | | | | Strong sales over the Thanksgiving weekend boosted US retail stocks, led by Macy’s (+16%) and J.C. Penney (+9.3%), though Tiffany (-1.6%) had a softer week after reporting a drop in comparable-store sales. Improved Chinese retail demand lifted Hong Kong-based Luk Fook (+4.4%). European luxury stocks had a disappointing week, with Kering (-3.8%) suffering the biggest decline. | | | | | 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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