Luxury giant LVMH hits 400 billion euro in market value

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Reuters UK

MILAN (Reuters) -LVMH shares rose to a fresh record high on Tuesday, giving the luxury goods group a market capitalisation of 400 billion euros ($434 billion) for the first time and cementing its lead as Europe’s most valuable company. Like other luxury companies which are heavily exposed to China, LVMH has benefited this year from the fast reopening of the world’s second biggest economy. However, some analysts said further gains in the share price could become harder to achieve. “Let’s say I’m waiting for 500 billion to mark it down as a milestone,” said Angelo Meda, head of equities and port…

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