Now Reading
Paris Stock Exchange : Luxury still shines

Paris Stock Exchange : Luxury still shines

Luxury sector stocks once again show a positive trend this Wednesday: LVMH rose by 0.59% to €515.80, Kering by 1.16% to €584.10 and Hermès by 0.48% to €886.80. It would then seem that the luxury sector is coming out of the water after this long and complicated year with regard to the pandemic.

 

On Wednesday 30 December, the Paris stock exchange continued its rise with 0.17% during the first trading sessions despite a slight fall compared to the beginning of the week (1.20% on Monday). At 9:35 am, the CAC 40 index rose by 9.53 points to 5,621.32 points.

 

The major luxury groups are now ready to start the new year in better conditions, with the emergence of new, not insignificant factors influencing this optimism.

 

Yesterday, the agreement on trade relations between the European Union and the United Kingdom from 2021 was ratified after lengthy negotiations. The text will be ratified by Parliament in 2021. Not forgetting that the negotiations between the United Kingdom and Europe have just been completed.

 

Moreover, the rapprochement between the European Union and China with a view to an investment agreement only enriches hopes for growth.

 

But our world today is especially concerned about the recent commercialization and use of the vaccine against the virus, which has so badly damaged the economy and continues to weigh heavily.

 

Indeed, just yesterday Germany experienced more than 1,000 deaths in 24 hours, the first time since the start of the health crisis. In France, with the deconfinement for the holidays and despite the restrictions, some eastern departments will be subject to stricter restrictions from 2 January.

 

The pandemic is far from over, but the vaccine offers considerable hope for any economic player, even those in the luxury sector.

 

For the moment, only the vaccines from Moderna and Pfizer/BioNTech are authorised to be used, and the latter has already been authorised to be administered in the United Kingdom to more than 600,000 people since 8 December.

 

But the disadvantage of the latter is their accessibility and their method of conservation, they can only be conserved in the long term at very low temperatures (-20°C for the former, -70°C for the latter).

See Also


 

However, another anti-Covid vaccine has been developed by the AstraZeneca group with the University of Oxford, which is less restrictive and more accessible : about 2.50 euros per dose and can be stored at refrigerator temperature.

 

The latter is therefore eagerly awaited, in particular by the Parisian market, and all it needs now is the agreement of the British government to be distributed.

 

To sum up, despite a positive evolution of banks and luxury securities, the Parisian stock exchange is not 100% reassured, notably because of the problems linked to vaccines, but also because Wall Street fell yesterday despite its progression at the beginning of the week. A fate also suffered by the Tokyo stock exchange.

 

Read also > PARIS STOCK EXCHANGE : LUXURY AND COSMETICS STOCKS BOOSTED BY THE PROSPECT OF AN AGREEMENT BETWEEN THE EUROPEAN UNION AND CHINA

 

Featured Photo : © Bourse

What's Your Reaction?
Excited
0
Happy
0
In Love
0
Not Sure
0
Silly
0

COPYRIGHT 2021 LUXUS + ALL RIGHTS RESERVED

Scroll To Top