French cognac makers rise on LVMH read-across
BUZZ-French cognac makers rise on LVMH read-across ** Shares in French cognac makers rise in early trade after LVMH reported better-than-expected Q3 sales at its wines and spirits division
** Remy Cointreau RCOP.PA is up around 4%, while Pernod Ricard PERP.PA rises some 2%
** Johnnie Walker whisky maker Diageo DGE.L also up around 1%
** JPMorgan says the luxury bellwether's results have a positive read-across for Pernod and Remy
** Jefferies says strong momentum at Hennessy drove a beat in cognac and spirits, while champagne and wines came in line with expectations
** "The external environment for spirits remains challenging; however, valuations are undemanding and we see scope for a re-rating as investor confidence grows that the worst is behind us," Jefferies says
(Reporting by Jakob Van Calster)