Buoyed by renewed optimism in the luxury goods market, on January 20 LVMH reclaimed the top spot among European market capitalizations. It thus dethroned the Danish laboratory Novo Nordisk, which plummeted in part due to measures taken by the Biden administration just before his departure.
LVMH gets the year off to a good start on the stock market.
On the eve of the publication of its annual results on January 28, the world’s number one luxury goods company also became once again Europe’s number one…in terms of market capitalization.
A share held since September 2023 by Novo Nordisk
According to companiesmarketcap.com, the company’s market capitalization reached 347 billion euros mid-afternoon on Monday January 20. It has thus surpassed that of the Danish laboratory Novo Nordisk (342 billion euros). On Friday January 16, LVMH had already briefly stolen the show, with a market valuation of 342.7 billion euros, compared with 341.7 billion euros for the Dane.
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