Cartier maker Richemont CFR.S slipped 1.3% even as quarterly constant-currency sales more than doubled, lifted by a strong performance in the Americas from its jewellery brands. Concerns about higher inflation and rising infections causing a slowdown in economic recovery have weighed on investors' minds this week, driving many to the safety of bond markets and making it harder for record-high equities to build on gains. "Markets have largely moved sideways this week, reflecting some cross-currents," said Silvia Dall'Angelo, senior economist, at the international business of Federated Hermes.