In Paris, the CAC 40 index started Wednesday, October 15, with a sharp rise, buoyed by luxury goods thanks to LVMH’s spectacular jump. Meanwhile, gold reached a new historic high of $4,200 per ounce, while international markets regained optimism.
Beyond luxury goods and gold, international markets are showing renewed vigor, even if shadows remain. In Europe, stock markets are opening higher across the board : the CAC 40 is up 2.49%. Frankfurt is up 0.16%, Milan is up 0.67%, while London remains stable.
The STOXX 600 index recorded a gain of around 0.8% at the opening, while the FTSEurofirst 300 and Stoxx 600 gained 0.77% and 0.76% respectively.
Luxury goods drive the Paris rebound
The CAC 40’s outperformance today was driven by the luxury sector following the publication of better-than-expected results for LVMH. Shares in the giant led by Bernard Arnault jumped 12.27% in early trading, reaching +13,53% at midday.
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