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EQUITIES: Broad Miss for LVMH Prompts Renewed Selling in EuroStoxx

EQUITIES

LVMH report poor results for Q3 at the close: 

  • Fashion & leather organic sales -5% vs. Exp. +0.5%
  • Revenues EUR19.1bln vs. Exp. EUR20.0bln
  • Wines & spirits organic sales -7% vs. Exp. -2.4%
  • Organic revenues -3% vs. Exp. +0.9% 

Another phase of selling pressure goes through in European equity futures on the LVMH headline - adding to the earlier weight provided by ASML. EuroStoxx hits 4940.00 for a new daily low, putting the index lower by near 2.2% on the day.

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LVMH report poor results for Q3 at the close: 

  • Fashion & leather organic sales -5% vs. Exp. +0.5%
  • Revenues EUR19.1bln vs. Exp. EUR20.0bln
  • Wines & spirits organic sales -7% vs. Exp. -2.4%
  • Organic revenues -3% vs. Exp. +0.9% 

Another phase of selling pressure goes through in European equity futures on the LVMH headline - adding to the earlier weight provided by ASML. EuroStoxx hits 4940.00 for a new daily low, putting the index lower by near 2.2% on the day.

Keep reading...Show less