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LVMH drops 2.60% in one week

LVMH drops 2.60% in one week

The number one luxury goods company has experienced a sharp decline for a week. Yesterday, at the close, the group was down 0.14%.

 

The luxury giant LVMH has suffered a sharp decline for a week. Indeed, the group headed by Bernard Arnault is down 2.60% over the past week, closing Wednesday’s session down 0.14%, at €553.40 compared to €554.20 the day before. On the stock side, nearly 326,982 shares were traded on Wednesday, representing 0.06% of the capitalization.

 

However, the decline is limited because over the last twelve months, the LVMH group, which was worth €339.15 a year ago, has climbed 63.17%, taking with it the CAC 40, which jumped 40.18% over the same period.

 

However, on Wednesday 24 March, the son of LVMH‘s chairman and CEO, Antoine Arnault, who is the group’s Director of Image and Environment, gave a cross-examination with the Director-General of UNESCO, Audrey Azoulay, in which he announced the company’s ecological ambitions.

 

Bernard Arnault‘s son says the group would consider neutralizing its impact on biodiversity by 2030. “We are aiming for “zero desertification and deforestation” by 2030 for all our supply chains,Antoine Arnault details. The businessman also estimates that by 2030, 5 million hectares of wildlife habitat will be rehabilitated by the group.

 


Technological advances and the fact that all the world’s major companies are working simultaneously on these themes will allow us in ten to fifteen years to grow without polluting,” he continues. “By then, we will also have deployed regenerative agriculture for all our strategic supplies: grapes, cotton, wool, leather or palm oil”.

 

Read also > STOCK MARKET: FURTHER DECLINE EXPECTED IN PARIS

 

Featured Photo : © Antoine Arnault

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