LVMH Hits $500 Billion Market Capitalization

5min Snip

00:00

Play full episode

Summary

Transcript

Episode notes

Luxury goods conglomerate, LVMH, yesterday became the first European company to hit $500 billion in market capitalization. Its earnings and its share price have risen partly because of the economic rebound in China. The luxury industry has been growing at just a crazy pace since March 2020. Most analysts expect that by 2024, it will be a little more normalized.

US President Joe Biden is expected to announce on Tuesday that he’s running for re-election, UBS could lose customers as a result of its takeover of Credit Suisse, and the French luxury group LVMH became the first European company to hit a $500bn market value.

Mentioned in this podcast:

Biden prepares to take his case for a second term to American voters

Hunt admits UK business taxes are too high as government pressed on strategy

Credit Suisse suffered $69bn in outflows during first-quarter crisis

LVMH becomes first European company to hit $500bn market value

The FT News Briefing is produced by Fiona Symon, Sonja Hutson and Marc Filippino. The show’s editor is Jess Smith. Additional help by Peter Barber, Michael Lello, David da Silva and Gavin Kallmann. Topher Forhecz is the FT’s executive producer. The FT’s global head of audio is Cheryl Brumley. The show’s theme song is by Metaphor Music.

Read a transcript of this episode on FT.com

Hosted on Acast. See acast.com/privacy for more information.