(Il Sole 24 Ore Radiocor) - London, 15 Jul - In European stock market dealings, luxury stocks were mostly lower amid concerns over a slowdown in the sector following downbeat results from UK giant Burberry.

In Paris, LVMH lost 2.65% at 705.60 euros and Kering closed 5.28% lower at 321.30 euros. While in Milan, Brunello Cucinelli dropped 4.25% at 90.10 euros.

Also in Milan, shares of the Italian defence and aerospace group Leonardo rose 1.31% at 23.24 euros after analysts at Mediobanca increased their target price to 28 euros and reiterated its outperform rating on the stock.

In a report, Mediobanca analysts highlighted the unprecedented increase in defence budgets in 2023, with spending continuing to increase to meet the NATO alliance objective of 2% of GDP.

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(RADIOCOR) 15-07-24 18:29:44 (0575) 5 NNNN