LVMH shares indicated lower as China weakness weighs on sales
LVMH shares indicated lower as China weakness weighs on sales Oct 13 (Reuters) - Shares in LVMH LVMH.PA were indicated to open lower on Tuesday after the luxury group missed third-quarter sales expectations, as weakening Chinese consumer sentiment weighed on its key division, home to brands Louis Vuitton and Dior.
Traders called LVMH shares opening down 3%. The stock was down 2.7% on Tradegate platform compared to Monday closing in Paris.
Rival Richemont CFR.S was down around 2% pre-market.
(Reporting by Jakob Van Calster, editing by Anna Pruchnicka)
Recent news on LVMH Moet Hennessy Louis Vuitton SE
See all newsHermes revenue growth slows as Chinese consumers cut spending on accessories (updated)
Focus: End of an era? How the Hermes Birkin bag is losing its scarcity appeal
Live Markets: Time for luxury to give up on China bounceback
Second-hand clothing app Vinted purges suspected stolen goods after France riots
Live Markets: British GDP growth not pressuring the BoE, say Berenberg