The Paris Bourse posted its best quarterly performance ever yesterday, buoyed by better-than-expected sales from Swiss group Richemont.
The CAC 40 continues its strong momentum : this morning, the Paris market recorded a further gain of around 0.60% in early trading, reaching 7,680 points, building on yesterday’s performance (+2.14%).
We owe this momentum mainly to luxury stocks : Hermès, LVMH and Kering shares opened this morning +5.70% at 2,469 euros, +7.65% at 691.1 and +5.43% at 239.85 respectively, unwavering this lunchtime, continuing yesterday’s fine performance.
Yesterday’s main peaks on the luxury goods markets coincided with the publication of Richemont‘s results at midday, which exceeded all expectations.
Generating sales of 6.15 billion euros for the last quarter of 2024, an unprecedented amount in its history, the Swiss group recorded a year-on-year increase of 10%, far exceeding its growth forecast of 1%. As a result, Richemont shares rose by 17% on the Swiss stock exchange, reaching a record high of 160 Swiss francs.
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Read also > Richemont broke its sales record in the last quarter of 2024
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