News Formal

LVMH is first European company to hit a $500 billion market cap.

  • 📰 MarketWatch
  • ⏱ Reading Time:
  • 16 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 10%
  • Publisher: 97%

Malaysia News News

Malaysia Malaysia Latest News,Malaysia Malaysia Headlines

Luxury brand conglomerate has benefited from resurgent spending in China

A record share price for LVMH FR:MC alongside a strengthening euro pushed the luxury goods company to a market capitalization of $500 billion on Monday, the first European company to reach that landmark.

LVMH stock touched a fresh high of €904.60, valuing the group at €454.2 billion. With the euro EURUSD at one point edging up to $1.1020, this equated to $500.5 billion. LVMH’s €454 billion valuation has made its creator Bernard Arnault the world’s richest person, with a 48% stake held by him and his family.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 3. in MY
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Luxury goods giant LVMH becomes the first European company to surpass $500 billion in market valueLuxury goods giant LVMH on Monday became the first European company to surpass $500 billion in market value.
Source: CNBC - 🏆 12. / 72 Read more »