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LVMH Shares Rise on Fashion Group Reports Solid Q4 Results

LVMHs shares rose on Wednesday after the French luxury goods group reported resilient fourthquarter results.

LVMH shares were up 1.3 in early session trading, among the top performers on Frances benchmark CAC40 equity index, and also lifting the stock price of its French rival Kering, whose shares rose 1.

LVMHs 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 yearonyear 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.

Reporting by Sudip KarGupta, editing by Louise Heavens

Source Reuters

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