Diamonds and technology don’t mix. This may be the only point that an activist investor need make to the owner of French jeweler Cartier.
Shares in Geneva-based Compagnie Financière Richemont rose 4% in morning trading Monday following a weekend report in fashion journal Miss Tweed that Daniel Loeb’s Third Point hedge fund has built a stake. If confirmed, it would be the fund’s second notable European investment in as many weeks, after it recently called for a break up of Royal Dutch Shell with arguments the oil major rejected.