European stocks mixed; LVMH slumps as sales growth slows

Investing.com - European stock markets traded in a mixed fashion Wednesday, with weakness in LVMH hitting the French market ahead of the release of key U.S. inflation data.) stock slumped almost 6% after the French luxury giant reported a 9% rise in third quarter revenue late Tuesday, marking slower growth as a strong wave of post-pandemic spending eased due to inflation and economic turbulence.

"I actually don't think we need to increase rates anymore," Atlanta Fed President Raphael Bostic said Tuesday, at a conference in Nashville, Tennessee. Signs underlying U.S. inflation is moderating are likely to reinforce the recent more dovish tone from Fed members about future policy, likely setting the market tone for the rest of the year.

That said, ECB policymaker Francois Villeroy de Galhau expressed confidence on Tuesday that inflation should still hit target by 2025 even with the violence in Israel weighing on commodity prices.Oil prices edged higher Wednesday as traders still grappled with the potential of supply disruptions due to the turmoil in the Middle East.

المملكة العربية السعودية أحدث الأخبار, المملكة العربية السعودية عناوين

Similar News:يمكنك أيضًا قراءة قصص إخبارية مشابهة لهذه التي قمنا بجمعها من مصادر إخبارية أخرى.

Luxury stocks drag European shares lower on LVMH disappointmentEuropean stocks slipped on Wednesday after sharp gains in the previous session, as luxury giant LVMH dragged the sector lower on disappointing sales, though Novo Nordisk jumped after positive update on its diabetes drug Ozempic.
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LVMH Sales Miss Forecasts Amid Luxury Industry Slowdown -- UpdateBy Mauro Orru LVMH Moet Hennessy Louis Vuitton posted sales below analysts' expectations for the third quarter as the luxury-goods industry grapples with...
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