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The CAC40<\/strong> has clearly been on an upward<\/strong> trend<\/strong> since it broke a record<\/strong> high in September 2000. On Friday, the stock market index<\/strong> was back in the green<\/strong> for the tenth time in eleven sessions. Despite concerns about inflation<\/strong> and the resurgence<\/strong> of Covid-19 cases<\/strong>, a new high of 7097.46 points was recorded in the morning.<\/p>\n <\/p>\n Good results<\/strong> from the luxury sector<\/strong> were the main reason. Richemont<\/strong> shares in particular soared on Friday, following the publication of better-than-expected quarterly results,<\/strong> and the announcement that negotiations<\/strong> for the sale<\/strong> of its troubled e-commerce platform Yoox Net-a-Porter<\/strong> had begun.<\/p>\n <\/p>\n For the six months ended 30 September, sales at the parent company of Cartier<\/strong> and Van Cleef & Arpels<\/strong> reached \u20ac8.91bn, representing organic growth<\/strong> of 65%. Compared to the same period in 2019, sales increased<\/strong> by 20%. Analysts were expecting half-year sales of \u20ac8.75 billion, according to the FactSet<\/strong> consensus. Richemont’s<\/strong> operating profit jumped<\/strong> to 1.95 billion euros from 452 million euros in the first half of last year, also above<\/strong> consensus.<\/p>\n <\/p>\n “The Swiss group’s results are first-rate<\/em>,” said Jean-Philippe Bertschy,<\/strong> analyst at Vontobel<\/strong>. “Richemont’s<\/strong> profitability is comparable to that of industry leaders such as LVMH<\/strong> or Herm\u00e8s<\/strong>. These results confirm that the owner of Cartier<\/strong> is the best positioned in the jewellery sector<\/em>.”<\/p>\n <\/p>\n Richemont<\/strong> also said it was in discussions with Fartech<\/strong> with the aim of making Yoox Net-a-Porter<\/strong> a neutral platform, without a majority shareholder.<\/p>\n <\/p>\n Shareholders and analysts had repeatedly called for a solution for Yoox Net-a-Porter<\/strong>, which was seen as a drag<\/strong> on the group’s operating profit and share price.<\/p>\n <\/p>\n In addition to Farfetch<\/strong>, which could take a minority stake in the business, other players have expressed interest in investing in Yoox Net-a-Porter<\/strong>, Richemont<\/strong> said. Its chairman, Johann Rupert<\/strong>, said however that the group was not in a position to give the names of other potential investors, nor to specify the brands that would be sold on the Farfetch<\/strong> platform.<\/p>\n <\/p>\n Discussions are also taking place on the exchange of technolog<\/strong>y between the two companies and the possibility of the group’s brands joining the Farfetch<\/strong> platform, Richemont<\/strong> said.<\/p>\n <\/p>\n In the first half of the year to 30 September, Richemont’s<\/strong> online sales division posted an operating loss<\/strong> of 141 million euros, although turnover from this activity jumped<\/strong> 37% to 1.28 billion euros. The loss was due to increased investment in communications<\/strong> and Brexit<\/strong>–related customs duties and taxes<\/strong>, Richemont<\/strong> said.<\/p>\n <\/p>\n <\/p>\n