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The Milan Stock Exchange closes with a decline, in the wake of the other Eurozone stock exchanges, with high bond yields putting pressure on investments in shares. The declines in the sector stand out luxurywith several analysts revising their estimates downwards after that demand in some key markets worsened in the first half of the year. Notably, Morgan Stanley said today it remains selective about the sector, after cutting organic growth estimates for the third and fourth quarters for most companies.