LVMH shares soar on China recovery hopes, lifting European luxury sector by US$80 billion

Ana Maria Rus

PARIS: Shares in French luxury giant LVMH jumped as much as 14 per cent on Wednesday (Oct 15), their biggest daily gain in over two decades, after stronger-than-expected sales and signs of improving demand in China reignited investor optimism across the luxury sector. The rally added nearly US$80 billion (S$110 billion) in market value to Europe’s leading luxury stocks, according to Reuters calculations. LVMH, the world’s largest luxury group and owner of brands including Louis Vuitton, Moët &

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