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Latest Share Chat

Pin to quick picksLVMH Share News (MC.PA)

Share Price Information for LVMH (MC.PA)

Euronext Paris
Share Price is delayed by 15 minutes
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Share Price: 705.10
Bid: 686.00
Ask: 694.00
Change: -2.50 (-0.353%)
Spread: 8.00 (1.166%)
Open: 705.20
High: 707.60
Low: 699.20
Prev. Close: 0.00
MC.PA Live PriceLast checked at -
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European tech, luxury stocks tumble as ASML, LVMH results disappoint

Wed, 16th Oct 2024 17:41

France's CAC 40 underperforms peers on luxury drag

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Adidas drops amid broader selloff despite third 2024 outlook

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Spain's IBEX closes at highest since January 2010

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ECB's interest rate decision due on Thursday

Oct 16 (Reuters) -

Europe's STOXX 600 settled lower on Wednesday, with tech and luxury stocks hurt by disappointing results from industry heavyweights ASML and LVMH, while caution prevailed ahead of the European Central Bank's policy decision.

The continent-wide STOXX 600 index fell 0.2%, retreating further from the over two-week high hit early on Tuesday. The euro zone blue chip index closed at more than a three-week low.

ASML, the world's biggest chipmaking equipment manufacturer, shed another 5.1% to hit a 10-month low, dragging the tech index down 1.5% to a one-month low. Its weak 2025 sales forecast on Tuesday sparked its steepest one-day decline in nearly three decades.

Jochen Stanzl, chief market analyst at CMC Markets, said ASML's disappointing results might be due to cost cuts by its customers such as Intel and that in a few months, fresh orders could lift the stock.

The luxury sector also faltered as France's LVMH dropped 3.7%, the stock's biggest one-day drop in over one month, after the company reported weaker third-quarter sales. The French CAC 40 index underperformed most major European bourses with a 0.4% decline. Peers Gucci-owner Kering, Hermes and Richemont fell between 0.8% and 1.3%. The broader luxury and personal and household goods indexes each shed over 1.3%.

Both indexes have underperformed STOXX 600 so far this year. China-exposed firms have grappled with dwindling sales in the world's second-biggest economy, with sentiment getting a brief boost from the latest stimulus measures.

Shoemaker Adidas fell 6.3% despite raising its full-year sales and profit guidance.

Spain's benchmark closed at its highest since January 2010, but Germany's DAX index retreated further by 0.1% from Tuesday's record high.

"The probability for (the DAX) to continue going up is higher because given the fact that there are a lot of export oriented companies in the DAX comparable to global U.S. companies," Stanzl said.

Market participants expect the ECB to cut rates by another 25 basis points on Thursday, which could boost stocks.

Travel and leisure stocks rose 1.6% to top sectoral charts, boosted by Whitbread's 6% gain after the Premier Inn owner said bookings were picking up for the holiday season.

Among others, Just Eat Takeaway lost 8.8% after the food delivery company missed expectations for third-quarter gross transaction value.

Tecan dropped 14.5% to the bottom of the STOXX index after the Swiss life science equipment maker cut its

annual outlook.

Teleperformance topped the STOXX index with a 11.2% rise after Kepler Cheuvreux upgraded the office services and call centre company's stock to "buy" from "hold."

More News
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Trump tariffs would test pricing power of Europe's luxury goods makers

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Motor racing-Moet & Chandon puts champagne back on the F1 podium

LONDON, Feb 5 (Reuters) - Moet & Chandon was confirmed as Formula One's official champagne provider on Wednesday with French fizz returning to the podium after four years of drivers celebrating by spraying Italian sparkling wine.

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3 Feb 2025 17:59

Europe's STOXX 600 logs biggest daily drop in 2025 as US tariffs rattle investors

Julius Baer falls after plans to cut workforce

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31 Jan 2025 12:53

Designer Kim Jones bows out from LVMH's Dior menswear brand

PARIS, Jan 31 (Reuters) - British fashion designer Kim Jones is stepping down as artistic director for menswear at Christian Dior, the LVMH-owned label said on Friday, signalling a potential shift in its design approach as the brand struggles with slowing sales.

Read more
31 Jan 2025 08:29

Designer Kim Jones leaving LVMH's Dior Homme brand

PARIS, Jan 31 (Reuters) - Fashion designer Kim Jones is leaving LVMH's Dior Homme brand, said the company on Friday. (Reporting by Mimosa Spencer; Editing by Sudip Kar-Gupta)

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29 Jan 2025 12:37

LVMH shares set for biggest drop in over a year on fading recovery hopes

LVMH shares fall as much as 6.7% in early trade

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29 Jan 2025 08:35

LVMH drags down luxury shares as budding hopes fade

PARIS, Jan 29 (Reuters) - Shares in luxury conglomerate LVMH were down in early trade on Wednesday, after the company's end-of-year report disappointed investors hoping for stronger signs of rebound from the sector bellwether.

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28 Jan 2025 21:27

LVMH touts good start to 2025 but Q4 results underwhelm

Q4 sales up 1% vs forecast decline of 1.6%

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Read more
28 Jan 2025 19:01

LVMH says 2025 off to good start after quarterly sales beat

Q4 sales up 1% vs forecast decline of 1.6%

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Read more
28 Jan 2025 16:41

LVMH beats forecast with 1% rise in fourth quarter sales

PARIS, Jan 28 (Reuters) - Luxury bellwether LVMH beat expectations on Tuesday with a 1% rise in fourth-quarter sales as demand for designer fashion and handbags picked up over the holiday season, adding to hopes the sector has turned a corner.

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24 Jan 2025 18:25

Dior's Kim Jones pares down embellishments for winter catwalk show

PARIS, Jan 24 (Reuters) - Dior men's artistic director Kim Jones kept embellishments to a minimum for his winter 2025-2026 catwalk show, putting the focus on silhouettes, including long, cape-like coats and cropped leather jackets.

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24 Jan 2025 18:07

Diageo exploring potential spin-off or sale of Guinness, Bloomberg News reports

Guinness is a bright spot in Diageo's portfolio

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24 Jan 2025 17:11

FTSE 100 slides as stronger sterling hits export-focused firms; Burberry soars

Sterling jumps as tariff doubts weigh on dollar

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24 Jan 2025 10:12

Burberry turnaround hopes boosted by US holiday shoppers

Q3 sales down 4% vs expected 12% decline

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Read more

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