Stock market: Luxury at a good speed

The CAC index ended yesterday’s session on Tuesday, showing some stability: +0.10% at 6,591 points. The good daily performance of the luxury sector also helped the Paris stock market to stay below the 5,600-point mark.

 

The world’s number one luxury goods company LVMH shone again yesterday with a 1.72% increase in its share price to 537 euros on the Paris Stock Exchange, making it Europe’s largest capitalisation with a valuation of 271.6 billion euros. The leader in luxury goods overtakes the Swiss food giant Nestlé with a valuation of 264 billion euros.

 

LVMH now ranks 22nd among the world’s largest market capitalisations (at $328 billion), just behind Paypal ($329 billion) and Mastercard ($331 billion). It has thus gained two places since 31 December 2020.

 

Since the beginning of 2021, LVMH has risen by more than 5% on the stock market, after posting a 23% increase in 2020.

 

As a reminder, the group acquired the position of first capitalisation in the euro zone in November 2019, taking the place of Unilever 

 

This morning, however, at around 10.50 am, the leader shows a certain drop of 0.35% to 535.10 euros.

 

Hermès also closed yesterday Tuesday with a historic record for its share: +1.71% to €915.6. This morning, however, at the same time as LVMH, the house posted a decline of 0.83 to 908 euros.

 

As for Kering, the group gained 1.55% yesterday at 555.5 euros, and posted the same score today.

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It is also interesting to note that EssilorLuxottica gained 1.68% after a rumour that the group was proposing to sell assets in three European Union countries.

 

Listed on the Swiss stock exchange, Richemont gained 0.9% and benefited from a purchase recommendation issued by Citigroup. As for Swatch,the watchmaking group lost further points with a fall of 0.7%.

 

Read also > STOCK MARKET : A DECLINE IN LVMH SHARES IS EXPECTED

 

Featured Photo : © Press

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