Mike Ralston, CEO of Blencowe Resources (BRES) and Manuel Pablo Zúñiga-Pflücker, President and CEO of PetroTal (PTAL) will be presenting and taking live Q&A at focusIR's Investor Webinar on Tuesday 25th February. Please register 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

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: 684.20
Bid: 686.00
Ask: 694.00
Change: 0.80 (0.117%)
Spread: 8.00 (1.166%)
Open: 695.00
High: 696.00
Low: 682.80
Prev. Close: 696.90
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
6 Sep 2023 17:11

European shares fall for sixth day as economic slowdown, rate concerns bite

STOXX 600 down 0.6%

*

Read more
4 Sep 2023 16:27

Wegovy makes UK weight-loss debut even as Novo struggles with supplies

Novo says Wegovy launch in UK 'controlled and limited'

*

Read more
4 Sep 2023 14:47

Shares, oil rise as sentiment towards China brightens

S&P 500 futures up 0.2%-0.3%

*

Read more
4 Sep 2023 10:47

CORRECTED (OFFICIAL) -UPDATE 2-Novo Nordisk launches weight-loss drug Wegovy in Britain

Novo announces launch of Wegovy in the United Kingdom

*

Read more
4 Sep 2023 08:25

Shares rise, dollar loses some safe-have lustre as China mood brightens

S&P 500 futures up 0.1%

*

Read more
4 Sep 2023 07:01

Novo Nordisk launches weight-loss drug Wegovy in UK

Novo announces launch of Wegovy in Britain

*

Read more
1 Sep 2023 14:07

U.S. payrolls data cements market bet on Fed rates pause

U.S. stock index futures extend gains after payrolls

*

Read more
1 Sep 2023 12:51

All eyes on US payrolls as dollar eases, oil gains

U.S. payrolls data due before Wall St open

*

Read more
21 Aug 2023 17:29

European shares rebound after four-day losses on energy, healthcare boost

German producer prices post first fall since late 2020

*

Read more
18 Aug 2023 17:34

European shares sink to lowest in six weeks, China woes loom large

China-exposed firms fall on growth concerns

*

Read more
17 Aug 2023 17:29

European shares drop on dour earnings, rate hike concerns

Adyen slumps after HY earnings miss

*

Read more
16 Aug 2023 17:33

European shares fall on mounting China worries, banks lag

UK inflation data weighs on FTSE 100

*

Read more
15 Aug 2023 17:29

Sweden, UK lead European shares lower on rate-hike fears

China-exposed firms drop after weak economic data

*

Read more
11 Aug 2023 17:16

European shares fall as interest rate uncertainty dampens sentiment

STOXX 600 down 1.1%, but flat for the week

*

Read more
10 Aug 2023 17:10

Luxury stocks, Fed rate pause bets boost European shares

STOXX 600 up 0.8%

*

Read more

Free Investment Tools

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.