{"id":13120,"date":"2023-05-24T09:52:23","date_gmt":"2023-05-24T13:52:23","guid":{"rendered":"https:\/\/ifintechworld.com\/investing\/lvmh-and-other-luxury-stocks-fall-wiping-out-billions-its-a-concern-for-europe\/"},"modified":"2023-05-24T09:52:24","modified_gmt":"2023-05-24T13:52:24","slug":"lvmh-and-other-luxury-stocks-fall-wiping-out-billions-its-a-concern-for-europe","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=13120","title":{"rendered":"LVMH and Other Luxury Stocks Fall, Wiping Out Billions. It&#8217;s a Concern for Europe."},"content":{"rendered":"<div id=\"js-article__body\" itemprop=\"articleBody\" data-sbid=\"WP-BAR-0000653131\">\n<div data-layout=\"wrap\n              \" data-layout-mobile=\"\" class=\"\n        media-object\n        type-InsetMediaIllustration\n          wrap\n  article__inset\n        article__inset--type-InsetMediaIllustration\n          article__inset--wrap\n    article__inset--lead\n  \"><\/p>\n<figure class=\"\n        media-object-image\n        enlarge-image\n        img-wrap\n        article__inset__image\n      \" itemscope=\"\" itemtype=\"http:\/\/schema.org\/ImageObject\"><\/p>\n<div style=\"padding-bottom:66.66666666666666%;\" data-subtype=\"photo\" class=\"image-container  responsive-media article__inset__image__image\"><\/div>\n<\/figure><\/div>\n<p>A booming luxury sector has been the standout in European markets this year so far. High-end retailers such as LVMH have taken on comparable importance for the region as technology companies like<br \/>\n        Apple<br \/>\n       have in the U.S.\u00a0<\/p>\n<p>So a drop on Tuesday wiping billions off the valuations of some of the biggest luxury companies sends a worrying signal for European markets as a whole.\u00a0<\/p>\n<div class=\"paywall\">\n<p>Stocks across the sector slumped on the day, and were some of the worst performers in the Stoxx Europe 600 index.<br \/>\n        Herm\u00e8s International<br \/>\n       (ticker: RMS.France), maker of the Birkin handbag, fell 6.5%.\u00a0Fashion brands<br \/>\n        Moncler<br \/>\n       (MONC.Italy) and<br \/>\n        Christian Dior<br \/>\n       (CDI.France) both dropped more than 5%. <\/p>\n<p>Paris-based<br \/>\n        LVMH Mo\u00ebt Hennessey Louis Vuitton<br \/>\n       (MC.France), the biggest luxury conglomerate of all, dropped 5%. Last month, LVMH claimed the crown of Europe\u2019s biggest stock by market capitalization as it became the first in the region to break the $500 billion mark.\u00a0<\/p>\n<p>There was no obvious catalyst for the selloff, which only takes some of the heat out of Europe\u2019s luxury rally. LVMH, for example, is still up 23% this year so far. <\/p>\n<p>Analysts at<br \/>\n        Deutsche Bank<br \/>\n       this week said investors in luxury stocks should be paying attention to slowing growth in the U.S., as aspirational customers\u2014those stretching their budgets to buy luxury goods as opposed to the super rich\u2014begin to feel economic pain.\u00a0<\/p>\n<p>\u201cThe luxury sector remains a crowded long for many investors, with the sector\u2019s premium to the market at historically high levels,\u201d the Deutsche Bank analysts, led by Matt Garland, wrote in a research note.\u00a0<\/p>\n<p>A more cautious approach to luxury stocks could reduce the attraction of European stocks as a way to hedge against U.S. risks. The<br \/>\n        Stoxx Europe 600<br \/>\n       is up 9.8% this year against a 9.0% rise in the<br \/>\n        S&amp;P 500<br \/>\n       index. <\/p>\n<p>Write to Adam Clark at adam.clark@barrons.com<\/p>\n<\/p><\/div>\n<\/div>\n<p>Read the full article <a href=\"https:\/\/www.marketwatch.com\/articles\/lvmh-dior-moncler-hermes-stock-price-luxury-europe-market-6b9c7e9b?mod=investing\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>A booming luxury sector has been the standout in European markets this year so far. High-end retailers such as LVMH have taken on comparable importance for the region as technology companies like Apple have in the U.S.\u00a0 So a drop on Tuesday wiping billions off the valuations of some of the biggest luxury companies sends [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":12708,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[239],"tags":[83],"class_list":["post-13120","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-investing","tag-featured","post_format-post-format-video"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>LVMH and Other Luxury Stocks Fall, Wiping Out Billions. 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