LVMH: Shares in luxury giant hit record high amid warning it’s ‘firing last cartridge’ on back of China’s reopening

Published by
City AM

By Jess Jones Shares of luxury goods giant LVMH soared to a new record high of £703.35 (€795.7bn) this morning, bringing the company’s market capitalisation to £350bn. LVMH (Moët Hennessy Louis Vuitton) continues to thrive after China’s reopening at the start of the year proving to be a major boost for the company, which relies heavily on luxury consumers in the country. However, analyst Angelo Meda, head of equities and portfolio manager at Banor SIM in Milan, cautioned that future share price gains may present more difficulties. “Let’s say I’m waiting for €500bn to mark it down as a mileston…

Read More