Check out our new Timeline feature to give you the latest updates on all the stocks you follow. Clickhere to set up your Timeline.

Less Ads, More Data, More Tools Register for FREE
Sponsored Content
Don't want ads? Click here
Sponsored Content
Don't want ads? Click here

Pin to quick picksLVMH Share News (MC.PA)

Share Price Information for LVMH (MC.PA)

Euronext Paris
Share Price is delayed by 15 minutes
Get Live Data
Share Price: 713.00
Bid: 686.00
Ask: 694.00
Change: 0.30 (0.042%)
Spread: 8.00 (1.166%)
Open: 720.00
High: 723.00
Low: 711.10
Prev. Close: 707.20
MC.PA Live PriceLast checked at -
  • This share is an international stock.

Watchlists are a member only feature

Login to your account

Timelines are a member only feature

Login to your account

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

*

Adidas drops amid broader selloff despite third 2024 outlook

*

Spain's IBEX closes at highest since January 2010

*

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
15 Jul 2024 13:04

UK luxury brand Burberry gets new boss to revive revamp

Q1 sales down 21%

*

Read more
28 Jun 2024 07:00

Paris' La Defense seeks revival with smaller, greener offices

PARIS, June 28 (Reuters) - Paris's La Defense business district is betting that modernising more than 300,000 square metres (3.2 million sq. ft) of offices into greener and more flexible work space will lure back companies and ease record high vacancy rates.

Read more
6 Jun 2024 11:35

Chanel's creative director Virginie Viard to leave brand

June 5 (Reuters) - Chanel artistic director Virginie Viard is leaving the label, the luxury brand said on Thursday, kicking off speculation over who will replace her in one of the fashion industry's most coveted positions.

Read more
21 May 2024 18:35

Big city malls the future for Klepierre in battle with online

May 21 (Reuters) - Mall operator Klepierre is focusing on Europe's most dynamic and affluent big cities and offering experiences beyond shopping to compete with fast-growing online retailers, its chairman Jean-Marc Jestin told Reuters on Tuesday.

Read more
16 May 2024 09:59

Watches of Switzerland shares tick higher on brighter outlook

Company 'cautiously optimistic' on new financial year

*

Read more
15 May 2024 12:12

Burberry looks to classics after Lee's designs struggle to excite

Q4 like-for-like sales slump 12%, China down 19%

*

Read more
25 Apr 2024 17:06

European stocks retreat on earnings gloom, weak US economic data

Hermes quarterly sales jump 17% on strong China demand

*

Read more
24 Apr 2024 16:47

Luxury sector outlook clouded by China's slow recovery

PARIS, April 24 (Reuters) - Sales updates from Europe's big luxury brands have offered scant reassurance that Chinese demand for high-end fashion is recovering, leaving a cloud over the outlook for the industry.

Read more
17 Apr 2024 17:11

Adidas, LVMH steer European shares higher on earnings relief

LVMH climbs as quarterly sales placate industry concerns

*

Read more
17 Apr 2024 08:48

LVMH Q1 meets expectations, reassuring luxe sector

profit warning

Read more
16 Apr 2024 19:28

LVMH sales growth slips on luxury spending slowdown

PARIS, April 16 (Reuters) - LVMH's sales slowed in the first quarter as rising prices prompted more shoppers who aspire to own its luxury labels to hold back on splashing out thousands of dollars on handbags and other accessories.

Read more
16 Apr 2024 16:45

LVMH's first quarter sales growth slips to 3% on luxury slowdown

PARIS, April 16 (Reuters) - LVMH reported a 3% rise in first quarter sales on Tuesday, marking a slowdown as rising prices prompted more shoppers who aspire to own its handbags and other luxury goods to hold back on splashing out thousands of dollars.

Read more
12 Apr 2024 17:19

Europe's STOXX 600 flat on rising Middle East tensions, energy stocks spike

Main energy stocks index hits highest since 2008

*

Read more
26 Jan 2024 17:08

LVMH, Remy Cointreau results boost European shares to 2-year highs

LVMH jumps on Q4 sales growth

*

Read more
26 Jan 2024 15:59

Global stock index edges up, dollar falls after U.S. inflation reading

World stocks hover near 2-year highs

*

Read more

Track Your Investments

Register for FREE

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.