De Beers Cuts Prices on Lower-Quality Diamonds -Bloomberg
13 November 2018 - 8:19AM
Dow Jones News
--De Beers reduced prices on lower-quality diamonds at a sale
this week, Bloomberg News reported.
--The report said shares of Tiffany & Co. (TIF) and Signet
Jewelers Ltd. (SIG) declined after news of the price cuts
emerged.
--Industry buyers had to commit to quotas for the year after De
Beers took the rare step of allowing customers to opt out of buying
some lower-quality stones in September, Bloomberg reported. This
week's price cut will help them buy their allocation, the report
said.
https://www.bloomberg.com/news/articles/2018-11-12/de-beers-is-said-to-make-big-cuts-in-low-quality-diamond-prices
Write to Josh Beckerman at josh.beckerman@wsj.com
(END) Dow Jones Newswires
November 12, 2018 16:04 ET (21:04 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
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