LVMH loses the throne of the most valuable French company on the stock exchange and falls out of the European top 10
The current situation of the luxury giant occurs after falling 55% from the record at the end of April 2023.
LVMH's stock fell 2.64% to 406.45 euros, leaving its market capitalization at 201.032 billion euros. This has caused the luxury giant to lose its position as France's most valuable listed company to L Oreal, which now has a market value of 203.046 billion euros. LVMH's stock has dropped 55% since its record high in late April 2023, when it was Europe's most valuable company with a market capitalization of over 452 billion euros.
The decline is attributed to weaker demand for luxury goods in China and the ongoing conflict in the Middle East.
Written by urgent.news from Expansion ES's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
