LVMH shares rise after fashion group reports solid fourth-quarter results

LVMH’s shares rose on Wednesday after the French luxury goods group reported resilient fourth-quarter results.

LVMH shares were up 1.3% in early session trading, among the top performers on France’s benchmark CAC-40 equity index, and also lifting the stock price of its French rival Kering, whose shares rose 1%.

LVMH’s fashion and leather goods business, home to Vuitton handbags and other brands such as Christian Dior, performed better than analysts expected in the fourth quarter, with sales rising 18% year-on-year on a comparable basis.

“As expected, the group focused on the best options possible and managed to overdeliver significantly,” wrote brokerage Jefferies, which kept a “buy” rating on LVMH shares.

Lucy Harlow

Lucy Harlow is a senior Correspondent who has been reporting about Equities, Commodities, Currencies, Bonds etc across the globe for last 10 years. She reports from New York and tracks daily movement of various indices across the Globe