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Pin to quick picksLVMH Share News (MC.PA)

Share Price Information for LVMH (MC.PA)

Euronext Paris
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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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Stocks and gold cheer cooler U.S. inflation, dollar slides

Thu, 13th Apr 2023 13:02

Euro hits 2-1/2 month high as dollar slides

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Gold holds near one-year highs above $2,000 an ounce

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FT reports SoftBank selling Alibaba stock, price drops

LONDON, April 13 (Reuters) - Global shares rose on Thursday, while the dollar held near two-month lows after U.S. inflation data suggested the Federal Reserve may soon be finished raising interest rates, which in turn kept gold above $2,000 an ounce.

The euro hit a 2-1/2 month high at $1.103. Investors are positive on Europe, where blue-chip stocks hit a two-decade peak on Wednesday, and reckon Europe's central bankers will need to be more hawkish longer than their U.S. counterparts to rein in rising prices.

The broader STOXX 600 index rose 0.3%, buoyed by shares in LVMH hitting a record high after the luxury retailer reported booming sales in China in the first quarter of 2023. London's FTSE 100 lagged the rest of the region after data showed the British economy stagnated in February.

After long weekends in much of the world, this week is fairly action-packed in terms of economic data. Still to go are U.S. producer prices at 1230 GMT on Thursday and retail sales on Friday, both of which could help set expectations for what the Fed might do at its May meeting.

"If as expected or lower, this may be enough for markets to start to discount a smaller probability of a Fed rate hike at its May meeting, but it may also require retail sales to fall as expected tomorrow," ADM Investor Services chief global economist Marc Ostwald said.

Wholesale prices are expected to have risen by 3% in March, from February's 4.6% increase, according to the most recent Reuters poll of economists.

Tuesday's read on U.S. consumer inflation showed prices barely rose in March. The annual 5% headline rise for U.S. inflation was the smallest since May 2021 and down from 9.1% last June.

Though with core CPI sticky at an annual 5.6% and minutes from last month's Fed meeting showing participants cautious about credit tightening in the wake of banking sector wobbles in March, markets are nervous.

"The market view is a bit split on whether it'll be a 'hawkish hold' or a 'dovish hike'," Aninda Mitra, head of Asia macro and investment strategy at BNY Mellon Investment Management, referring to next month's Fed meeting.

"Whichever way you look at it, it's probably not going to be a series of hikes, it's probably going to be one more to hit the peak before you start to reassess, you either reassess now, or you hike and then reassess," he said.

The dollar index was down 0.14%, near its lowest in two months, while U.S. stock futures rose 0.1-0.2%, suggesting a modest rally at the open.

However, given the Fed's concern about banks, much of the week's focus will fall on earnings from Citi, Wells Fargo and JP Morgan Chase due on Friday.

"It is an 'if' monetary policy world, that is, wait and see about banking and financial conditions," said Sam Rines, managing director at research firm CORBŪ in Texas. "Banking sector issues are explicitly part of the reaction function now."

Two-year Treasury yields were up 2 basis points at 3.989% after dropping more than 8 basis points on Wednesday. More tellingly, as investors place more of a chance on the European Central Bank raising rates for longer, the gap between 10-year U.S. Treasury yields and 10-year Bund yields reached its narrowest in two years, reflecting the steeper rise in German yields.

NO BLOW-UPS, FOR NOW

Goldman Sachs' chief economist Jan Hatzius sounded upbeat, noting risks of an outright banking crisis have declined sharply since no further banks have blown up since the weekend of the collapse of Silicon Valley Bank a month ago.

Still, there is pressure and warning signs, particularly for regional lenders, with Rines pointing to the Bank of South Carolina which noted "precipitous increases" in deposit costs and thin margins in its first-quarter earnings this week.

Elsewhere, gold rose 0.65% to $2,028 an ounce, near its highest for a year. A weaker dollar and the prospect of a decline in rates means gold, which does not bear any kind of interest of its own, can compete more effectively for investor money, especially if inflation is proving persistent, given its reputation as a hedge against rising price pressures.

The Aussie dollar rose 0.6% on the back of surprise surges in both Chinese exports, which rose 14.8% compared with last March, and domestic Australian jobs.

China's major stock indexes were slightly in the red, with analysts saying an unexpected rise in March exports was unlikely to be sustained given softening global demand.

Chinese tech stocks slid after the Financial Times reported SoftBank was selling down its Alibaba stake, on the heels of Netherlands investor Prosus flagging some selling of its Tencent stake on Wednesday. Alibaba shares fell by as much as 5% at one stage, but later pared losses to close 2% lower. In U.S. premarket trading they were up about 1.4%.

More News
18 Feb 2025 13:02

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

Luxury brands say they will raise prices if US imposes tariffs

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Read more
5 Feb 2025 10:38

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.

Read more
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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Read more
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.

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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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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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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
16 Oct 2024 17:41

European tech, luxury stocks tumble as ASML, LVMH results disappoint

France's CAC 40 underperforms peers on luxury drag

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