Now Reading
Stock market: CAC40 growth boosted by luxury goods

Stock market: CAC40 growth boosted by luxury goods

Supported by the satisfactory performance of the various luxury companies, the Paris Bourse has recovered and is posting good results.

 

LVMH, the leading French luxury goods company, gains 3.16% to 653.6 after announcing a 20% increase in sales in the third quarter. Revenue growth slowed in Asia and the United States, where Bernard Arnault‘s group had had an exceptional first half. Nevertheless, the world’s leading luxury goods company was confident that its current growth would continue. In the wake of LVMH, the other luxury companies also posted good results. Hermès gains 2.71% to 1268 and Kering 1.5% to 644.3.

 

While luxury goods are driving the growth of the CAC40, companies in other sectors that are still listed on the stock exchange are not outdone. Thus, the specialist in multi-technical services Spie saw its share price jump by 8.45% to 21.3 after announcing that it was withdrawing from the bidding process for the acquisition of Equans, a subsidiary of Engie.

 

For their part, Dassault Systèmes gained 3.48% to 45.29 and Cagemini 4.04% to 182.7.

On the other hand, two major companies saw their share prices fall. The first is Sodexo, which lost 2.91% to 76.2, penalised by Exane BNP Paribas, which downgraded the group’s share price from neutral to underperform. The second is AXA, which is expecting to have to pay out millions in claims as a result of the typhoons that hit Hong Kong in less than a week. AXA’s shares fell 2.21% to 23.54.

 

Overall, the CAC40 index rose 0.75% to 6,597.38 points, with a volume of 3.524 billion euros traded.

 

See Also

 

Read also > LVMH CONTINUES TO GROW ON THE STOCK MARKET

 

Featured photo : © Wikimedia Commons

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