LVMH pierde el trono de la francesa más valiosa en Bolsa y cae del 'top 10' europeo
La situación actual del gigante del lujo se produce tras caer un 55% desde el récord de finales de abril de 2023. Leer
LVMH has lost its position as France's most valuable company on the stock market and has fallen out of the top 10 European companies. The luxury giant's shares fell by 2.64% to 406.45 euros on Tuesday, reducing its market capitalization to 201.032 million euros. Now, L'Oreal leads the French stock exchange with a market value of 203.046 million euros, up 0.78% to 381.2 euros per share.
The current situation for LVMH follows a 55% drop since early April 2023, when it was the most valuable company in Europe with a market capitalization of over 452 billion euros and a share price of 902 euros. This decline occurred as investors bet that Asia, particularly China, would become the key support for the French company once its citizens recovered their pre-pandemic spending levels and mobility.
However, these market predictions did not materialize, and investors have since unwound their positions. Luxury goods demand continues to decline in China, and the ongoing conflict in the Middle East is further exacerbating challenges for other key luxury markets, according to analysts. Share prices have reverted to pre-pandemic levels, coinciding with confinement measures and Bloomberg data showing a similar decline to the one experienced during the financial crisis.
Written by urgent.news from Expansion ES's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
