REGISTER: Hear how Blencowe Resources (BRES) plans to develop a World Class graphite Project. Find out at the focusIR Feb Investor Webinar. Sign up here.

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
SEEEN plc CEO, Adrian Hargrave, discusses operational & trading highlights & outlook for 2025
SEEEN plc CEO, Adrian Hargrave, discusses operational & trading highlights & outlook for 2025View Video
Majestic Corporation: An Introduction to Urban Mining and Critical Mineral Recycling
Majestic Corporation: An Introduction to Urban Mining and Critical Mineral RecyclingView Video

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
Get Live Data
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 -
  • 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

Stocks knocked by earnings reality check; dollar firm

Wed, 16th Oct 2024 13:20

Grim ASML outlook hits chip stocks

*

Luxury giant LVMH result disappoints, cites weak China spending

*

Dollar near two-month high on measured rate-cut bets

LONDON, Oct 16 (Reuters) - Global stocks fell on Wednesday after gloomy results from European heavyweights LVMH and tech company ASML dented sentiment, while the dollar gained as investors banked on a more moderate decline in U.S. interest rates.

Investors have grown increasingly likely to punish shares for earnings misses and Wednesday was no exception in Europe.

ASML, whose customers include TSMC and Samsung , delivered a gloomy sales forecast for 2025 on Tuesday, saying the semiconductor market beyond AI has been weaker for longer than expected. Its shares fell by the most in nearly 30 years in late trading and sank another 2.5% on Wednesday.

Meanwhile, shares in LVMH, considered a play on the Chinese consumer almost more than anything else, tumbled by the most in a year after reporting weaker than expected third-quarter sales. With the optimism over China's recent stimulus measures quickly waning, the results were not what investors wanted to see, leaving Paris' CAC 40 down 0.5% and the STOXX 600 down 0.2%.

A Bloomberg News report overnight that U.S. officials have been considering implementing a cap on export licences for AI chips to specific countries added to pressure on the chip sector. It left indices in Japan, Taiwan and South Korea - all home to major chip firms - down 1.7%, 1.2% and 0.6% respectively. Nvidia shares were up around 0.5% in the premarket, having slid over 5% after hours.

S&P 500 and Nasdaq futures were flat, pointing to a more stable open on Wall Street later, after Tuesday's declines in the major indices .

Pepperstone market strategist Michael Brown said dips could prove to be good buying opportunities.

"Providing that banks prove a reliable barometer for earnings season more broadly, solid earnings growth, coupled with resilient economic growth, should continue to power the market higher. This is particularly the case with the forceful Fed put providing additional confidence allowing participants to remain further out the risk curve," he said.

With stocks within a whisker of record highs and valuations looking pricey, analysts said there was plenty of scope for volatility, not least because of the political backdrop.

Matt Simpson, senior market analyst at City Index, said investors are likely questioning how exposed to risk they really want to be, given there are risk events and a U.S. election looming on Nov. 5.

"I expect investors to become increasingly twitchy as we head towards November 5th, and keen (to) book profits at frothy levels."

RISING DOLLAR

On the macro side, data earlier on Wednesday showed British inflation slowed more than expected last month, cementing expectations for the Bank of England to cut rates at least once, if not twice, this year.

The pound fell below $1.30 for the first time in two months, to $1.3032, while UK stocks got a lift, pushing the FTSE 100 up 0.7% on the day.

The outlook for Federal Reserve monetary policy is at the heart of the strength in the dollar right now.

Traders are pricing in around 46 basis points (bps) of rate cuts this year. Less than a month ago, after the Fed lowered rates by half a point, the expectation was for nearly 80 bps in cuts.

As a result, the dollar has surged in recent weeks, with the U.S. dollar index, which measures the U.S. currency against six others, at 103.23, near its highest since early August.

The euro traded around two-month lows and was last at $1.08945 ahead of the European Central Bank policy meeting on Thursday, at which the central bank is largely expected to cut rates again.

Oil prices extended the previous day's 5% drop, as investors contend with uncertainty around the conflict in the Middle East and what it means for global supply.

Brent crude oil futures fell 0.6% to $73.78 a barrel, while U.S. futures lost 0.7% to trade at $70.12.

More News
25 Sep 2024 17:27

European shares end marginally lower as energy stocks drop

STOXX 600 down 0.1%

*

Read more
24 Sep 2024 17:20

European shares end higher as markets cheer China's stimulus plans

STOXX 600 up 0.7%

*

Read more
18 Sep 2024 05:00

How migrant workers suffered to craft the 'Made in Italy' luxury label

Some luxury goods contractors in Tuscany have employed undocumented migrant workers

*

Read more
12 Aug 2024 17:59

Pandora raises full-year growth outlook as broader product range pays off

COPENHAGEN, Aug 12 (Reuters) - Pandora, the world's biggest jewellery maker, raised its full-year growth outlook on Monday, presenting a more upbeat outlook than some other consumer goods companies as it continues to expand its product range.

Read more
1 Aug 2024 13:56

Canada Goose bucks luxury slowdown in China, tops quarterly estimates

Aug 1 (Reuters) - Canada Goose beat Wall Street estimates for quarterly revenue on Thursday, benefiting from steady consumer demand in China for its puffer jackets and sweats, bucking an industry-wide slowdown seen by luxury players in the region.

Read more
26 Jul 2024 17:26

European shares end higher as earnings barrage impresses

Capgemini falls after forecasting annual revenue drop

*

Read more
25 Jul 2024 08:11

'No light at end of tunnel' - Kering slumps to 7-yr lows on H2 guidance slash

Read more
24 Jul 2024 21:35

Stocks dragged down by megacap tech, oil edges higher

Wall Street stocks dip

*

Read more
24 Jul 2024 17:35

European shares end lower as earnings whirlwind disappoints

LVMH Q2 sales miss estimates, shares fall

*

Read more
24 Jul 2024 17:18

London shares weighed down by luxury stocks, downbeat US tech earnings

Burberry falls after LVMH reports sales slowdown

*

Read more
24 Jul 2024 16:57

Stocks dragged down by megacap tech, oil edges up

Wall Street stocks dip

*

Read more
24 Jul 2024 09:00

Luxury stocks sell off again as LVMH posts below-bar Q2 earnings

Read more
23 Jul 2024 14:21

Digesting Biden exit, markets focus on earnings, data

July 23 (Reuters) - World markets steadied on Tuesday as investors looked beyond Joe Biden's exit from the U.S. presidential race, turning their focus to corporate earnings and economic data.

Read more
23 Jul 2024 10:22

Digesting Biden exit, markets focus on earnings, data

July 23 (Reuters) - World markets steadied on Tuesday as investors looked beyond Joe Biden's exit from the U.S. presidential race, turning their focus to corporate earnings and economic data.

Read more
22 Jul 2024 17:17

Europe's STOXX 600 regains some ground after last week's battering

STOXX 600 up 0.9%

*

Read more

Make Better Investment Decisions

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.