Luxury stocks drag European shares lower on LVMH disappointment

  • 📰 Reuters
  • ⏱ Reading Time:
  • 24 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 13%
  • Publisher: 97%

United Kingdom News News

United Kingdom United Kingdom Latest News,United Kingdom United Kingdom Headlines

European 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.

The benchmark rallied almost 2% on Tuesday to record its biggest one-day gain in 11 months, boosted by dovish comments from U.S. Federal Reserve policymakers.dropped 6.7% to touch a more than 10-month low after the luxury goods bellwether reported a 9% rise in third-quarter revenue, marking slower growth as a strong wave of post-pandemic spending eases., however, jumped 3.

8% after the Danish drugmaker said it would stop a trial studying Ozempic to treat kidney failure in diabetes patients ahead of schedule because it was clear from an interim analysis that the treatment would succeed.An Indian government panel has recommended that automakers who step up connectivity features in cars to communicate with other vehicles and external systems should win better ratings on crash tests, a draft report showed, in a bid to boost road safety.

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:

 /  🏆 2. in UK
 

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

United Kingdom United Kingdom Latest News, United Kingdom United Kingdom Headlines