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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: 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 -
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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)

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23 Jan 2024 17:01

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Shares rise 10%

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17 Jan 2024 17:05

European shares slide more than 1% on hawkish ECB remarks, disappointing China data

Dec. EZ final consumer prices at 2.9% on yearly basis

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12 Jan 2024 18:05

Burberry warns on profit as luxury demand ebbs

Had warned on revenue outlook in November

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12 Jan 2024 17:33

Burberry warns on profit as luxury demand ebbs

Had warned on revenue outlook in November

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12 Jan 2024 15:04

Olympics-Alcohol-free Corona Cero to be official Paris beer as AB InBev signs deal

LONDON, Jan 12 (Reuters) - Anheuser-Busch InBev will be an official sponsor for three Olympic Games starting with the Paris 2024 summer event this year, the brewer said on Friday, naming its alcohol-free Corona Cero as the official beer of the Games.

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12 Jan 2024 08:16

Burberry shares hit lowest since 2020, luxury stocks sag

LONDON, Jan 12 (Reuters) - Shares in British luxury group Burberry fell as much as 14% in early trade on Friday after the company downgraded its guidance, citing a slowdown in luxury demand.

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10 Jan 2024 06:00

Drugs group Sanofi makes Olympic jump in rebrand bid

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5 Jan 2024 13:12

Industry experts react to China's anti-dumping probe into EU brandy

SHANGHAI/PARIS, Jan 5 (Reuters) - China launched on Friday an anti-dumping investigation into brandy imported from the European Union, which will focus on brandy in containers of less than 200 litres (44 British gallons).

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3 Jan 2024 17:10

European shares see worst day in nearly eight weeks after stellar 2023

STOXX 600 down 0.9%

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