Ticker: CFRUY

TD Cowen has upgraded Compagnie Financière Richemont (SIX: CFR) to 'buy', citing strong performance in its jewelry division, particularly Cartier and Van Cleef & Arpels. With a new price target of CHF 163, Richemont is set for a promising growth trajectory.

European stocks decline amid fluctuating Federal Reserve rate expectations, leading to a pullback from riskier assets. Traders remain cautious as they await more data on inflation and economic growth.