* Shares in Richemont CFR.S rise 2.9% in pre-market indications after the Swiss jewellery company beat estimates for its quarterly sales despite weakness in the Middle East

** Richemont's Q4 sales grew 13% in constant currencies to €5.40 billion ($6.27 billion), surpassing analysts' average estimate of €5.30 billion in a poll by Visible Alpha

** Vontobel says the company's Middle East sales were weak in Q4, but this was offset by stabilisation in China and ongoing strength in the U.S.

** "Richemont remains one of our preferred names in luxury, driven by unmatched scale and desirability in high-end jewellery, superior pricing power and a tightly controlled distribution network," it says

** The broker continues to see the Swiss firm as a quality compounder in a volatile sector

** The stock is seen among the best performers of Switzerland's blue-chip index .SSMI

($1 = 0.8613 euros)