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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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Miners, luxury sector weigh on Europe's STOXX 600

Tue, 08th Oct 2024 17:34

China sparks global risk-off mood

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Spirits makers hit by anti-dumping measures

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Vistry plunges as co slashes profit outlook

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STOXX 600 drops 0.5%

Oct 8 (Reuters) - European stocks settled lower on Tuesday, as a lack of fresh details over China's stimulus measures sparked a selloff in sectors linked to the world's second-largest economy such as mining and luxury.

The pan-European STOXX 600 index dropped around 1% to touch a two-week low, before paring losses and declining 0.55%.

Luxury firms such as LVMH, Kering, Burberry and Hermes, which draw a large part of their revenue from China, fell in the range of 0.6% to 4.5%.

Miners fell the most among European sectors, down 4.4%, as copper and iron ore prices dropped after Chinese officials failed to inspire confidence in stimulus plans intended to revive the economy.

Shares of spirits makers Remy Cointreau and Pernod Ricard dropped 6.4% and 4.2%, respectively, as China announced provisional anti-dumping measures on brandy imports from the European Union.

Luxury stocks and spirit makers weighed on France's stock index that underperformed the benchmark STOXX and other markets in the currency union.

"The market can live with some additional tariffs here and there, but it can get escalated if they impose dramatic tariffs more quickly to really turn the screws," said Chris Beauchamp, chief market analyst at IG Group.

"Negotiations are going around cars and engine makers at the moment and are probably the key ones to watch."

A nearly 5% slide in crude prices hurt energy-focused bourses in the UK and Norway that dropped over 1.3% each.

On the data front, German industrial production rose by a larger-than-expected 2.9% in August but did little to lift market sentiment, with traders focused on a gloomy picture of the euro-zone economy.

Still, the STOXX index, along with German, Italian and Spanish stocks are on track for annual gains, as investors priced in interest-rate cuts by the European Central Bank.

Economists polled by Reuters expect the ECB to cut its deposit rate by 25 basis points next week and again in December.

Investors also geared up for third-quarter corporate results, with data compiled by LSEG forecasting a 4.6% increase from a year ago.

Among other stock movers, Vistry plunged 24.3% after the British homebuilder cut its fiscal 2024 profit outlook, hurt by increased build costs in one of its divisions.

Imperial Brands rose 4% after the maker of Winston cigarettes forecast a growth of 20% to 30% in fiscal 2024 revenue from next-generation products and announced shareholder returns of 2.8 billion pounds ($3.66 billion). (Reporting by Sruthi Shankar and Johann M Cherian in Bengaluru and Paolo Laudani in Gdansk; Editing by Sherry Jacob-Phillips and Rod Nickel)

More News
22 Jul 2024 10:01

UK's Hammerson to sell stake in Bicester Village owner to LVMH backed private equity firm

July 22 (Reuters) - UK shopping mall owner Hammerson said on Monday it is selling its entire 42% stake in luxury shopping centre operator Value Retail to LVMH-backed private equity firm L Catterton for an enterprise value of 1.5 billion pounds ($1.94 billion).

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15 Jul 2024 13:04

UK luxury brand Burberry gets new boss to revive revamp

Q1 sales down 21%

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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.

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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.

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16 May 2024 09:59

Watches of Switzerland shares tick higher on brighter outlook

Company 'cautiously optimistic' on new financial year

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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%

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25 Apr 2024 17:06

European stocks retreat on earnings gloom, weak US economic data

Hermes quarterly sales jump 17% on strong China demand

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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.

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17 Apr 2024 17:11

Adidas, LVMH steer European shares higher on earnings relief

LVMH climbs as quarterly sales placate industry concerns

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17 Apr 2024 08:48

LVMH Q1 meets expectations, reassuring luxe sector

profit warning

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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.

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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

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26 Jan 2024 17:08

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

LVMH jumps on Q4 sales growth

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Read more

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