Italy's Tod's (TOD.MI) rises as much as 3.5 percent to levels last reached
in December 2007 after UBS upgrades the luxury shoe and bag maker to "buy" from
"neutral", traders say.
The DJ STOXX personal goods sector .SXQP is down 1.4 percent.
UBS says it sees potential benefits from increased store traffic and expects
the negative sales trend of handbags to reverse next year.
The broker raises its target price to 52.80 euros from 44 euros, noting that
its estimates are now above consensus.
Italian jeweller Bulgari BULG.MI rises 0.6 percent after Bank of America
Merill Lynch on Thursday adds the stock to its "most preferred list" of European
consumer goods companies.
Reuters Messaging rm://firstname.lastname@example.org