LVMH's strong Q3 numbers lift European luxury good stocks

Shares in LVMH rose on Thursday, lifting up other European luxury goods stocks after the Louis Vuitton owner posted higher-than-expected third-quarter sales. LVMH's strong sales came in spite of unrest in Hong Kong that has caused luxury labels to lose out on business there.

LVMH shares were up by around 5% in early session trading, driving up the stock prices of its rivals such as Kering , Hermes and Hugo Boss. "Overall, LVMH posted another very strong performance in 3Q, materially beating consensus expectations," wrote analysts at Morgan Stanley.

 

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