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Rapaport TradeWire
May 25, 2017
RAPAPORT MARKET COMMENT
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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 THE RAPAPORT PRICE LIST WILL NOT BE PUBLISHED ON JUNE 2 DUE TO THE JEWISH HOLIDAY OF SHAVUOT.

Jck2017 Rap Media 600 By 160 042717
RAPNET DIAMOND INDEX (RAPI)
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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%
RAPI Yearly Graph
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Market Reports
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United States: Polished trading slows ahead of Las Vegas shows. Many wholesale and retail jewelers still unsure about their attendance...
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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...
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Israel: Sentiment positive despite sluggish trading as more than 60 Israeli companies are participating in the JCK Las Vegas show...
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India: Activity relatively slow, with some dealers still on vacation through May school holidays. Very few overseas buyers in the market...
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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...
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UPS AND DOWNS
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Sotheby’s to Auction $13 Garage-Sale Diamond
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How Alex and Ani Grew into an American Jewelry Empire
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Seven Takeaways from Geneva’s $63M Watch Auctions
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Why Millennials Are Ditching Diamonds
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Gov’t to Assume Control of Zimbabwe Diamond Sector
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WEEKLY NEWS
industry
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Hong Kong Dealers Face Random Synthetics Checks
Diamond federation aims to boost consumer confidence with quality-assurance program.
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WDM Campaign Tells Diamond Stories
Promotion features Indian woman, bearded bagpipe player wearing jewelry.
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US Polished Imports Slip in March
Israel’s exports to America jump 13%.
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Swiss Watch Exports Run Slow Again
Hong Kong and US orders weak in April.
retail
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Woes Continue for Signet as Sales Slide
High-end jewelry performs better than lower-cost categories.
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Weak US Spending Drags Down Tiffany Sales
Luxury retailer’s stock drops despite rise in net profit.
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Jeweler TSL Suffers from Hong Kong Slowdown
Weak consumer sentiment in the municipality outweighs better performance in mainland China.
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Theo Fennell Hands Control to Rescuers
Upmarket UK jeweler could not deal with high costs of restructuring.
mining
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Gareth Penny Leads Botswana Mine Purchase
Former De Beers CEO joins with manufacturer of world’s most expensive diamond to buy BK11 asset.
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Gemfields Faces Buyout from Main Investor
Pallinghurst offer values colored-gemstone miner at $276M.
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Alrosa, Angola Sign Deal on New $35B Mine
Luele deposit is the Russian miner’s largest discovery in 60 years.
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Untapped Ekati Pipe May Hold 16M cts.
Dominion projects Leslie resource will yield $85 per carat.
general
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De Beers Mourns Jennifer Oppenheimer
Wife of Jonathan Oppenheimer was a former head of the De Beers Fund.
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MJSA Awards Honor Up-and-Coming Designers
Winners get cash prizes, assistance in promoting work.
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Head of UK Jewelry Body Steps Down
NAJ CEO Michael Rawlinson oversaw merger that created the organization.
Rapaport Auctions Tw 600X160 22 May 2017
FINANCE
Diamond Industry Stock Report
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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.

Rapnet Trade Wire
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