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The French luxury conglomerate now heads the CAC 40, the benchmark French stock market index, pushing aside oil producer Total.
LVMH is now the most valuable company on the benchmark French stock index. Shares are reported to have risen 0.96% to €230.25, with a market capitalisation of €116.7 billion on the stock exchange, compared with Total's €115.8 billion, and whose stock is said to have declined 0.39% to €46.66 per share. According to analysts, this marks the first time since the late 1980s the CAC40 is not dominated by big industrial companies, partly attributed to declining oil prices.
In April, the world’s biggest luxury Group by revenue announced it plans to buy out the shares of all minority stakeholders of maison Christian Dior in order to simplify the Group’s structures. Read more here.
Source: Fashion Networkcomments powered by Disqus