Europe's luxury stocks track Burberry slide A profit warning from Burberry cast a shadow across European luxury goods companies on Tuesday, sending them falling across the continent. In an unexpected trading update Burberry warned investors that slowing sales would mean underlying pre-tax profit for the year, ending March 2013, would be at the lower end of market expectations. IN European Equities This sent shares in the maker of the quintessential British trenchcoat tumbling 18.2 per cent to £11.25. Concern that Burberry's troubles could be the first sign of a spending slowdown affecting the wider sector prompted investors to sell Swiss-based jeweller Richemont. Shares in the Cartier jewellery maker fell 5.2 per cent to SFr60.80 against a 0.4 per cent fall on the wider Swiss SMI index to 6,477.11. Watch maker Swatch also suffered heavy selling, as its shares slid 4.4 per cent to SFr68.90, while its Group I shares fell 4.4 per cent to SFr396.00. In Paris, Christian Dior and LVMH followed suit, falling 5.1 per cent to €111.35 and 4 per cent to €127.00 respectively. The French CAC40 index fell 0.3 per cent to 3,494.43. Suedzucker was the best performing stock across Europe on Tuesday morning, amid speculation that the German sugar maker was poised to benefit from higher food prices. Analysts at Nomura highlighted Suedzucker as one of a clutch of soft commodity groups set to benefit from the trend in a note on Monday. Shares climbed 2.3 per cent to 25.81, against a 0.1 per cent fall on the Xetra Dax index to 7,203.61. The FTSE Eurofirst 300 was down 0.4 per cent at 1,099.04 as traders remained cautious ahead of several major news events later this week. Dutch elections take place on Wednesday, and Germany's constitutional court is due to announce a ruling on whether it deems new powers given to the European Stability Mechanism (ESM) as constitutional. Meanwhile, the US Federal Reserve could announce further stimulus at a Federal Open Market Committee meeting this week. In a note to clients, analysts at ING pointed out that "the disappointing August payrolls report, showing growth of just 96,000, now means that the probability of additional substantive policy easing at this meeting is high."