A strong quarter for luxury giant | Calamatta Cuschieri

The Maltese market closed in the green on Thursday, with MSE Equity Total Return Index ending the session 0.461% higher, to 9,375.396 points. Best performer was International Hotel Investments plc, adding 2.82% to close at 0.73, followed by Bank of Valletta plc and Trident Estates plc, both gained 0.75% to close at 1.35 and 1.34 respectively. HSBC Bank Malta plc rose 0.61% to close at 1.66. There was no any falls seen on Thursday. Simonds Farsons Cisk plc, GO plc, Malta International airport plc and PG plc were active but closed unchanged.

European shares slipped on Thursday as investor sentiment was dented by global growth slowdown fears but gains in France, thanks to strong earnings, helped set a lower limit to the broader decline. The Stoxx Europe 600 gained 0.06% to close at 386.91. FTSE 100 shed 0.05% to 7417.95, Germany’s DAX added 0.25% to 11935.20 while France’s CAC 40 jumped 0.66% higher to close at 5485.72.

U.S. stocks closed mostly lower on Thursday as investors struggled to identify catalysts to drive the market ahead of the unofficial start of the corporate earnings season Friday. The Dow Jones Industrial Average fell 0.05% to 26,143.05, the S&P 500 index edged up less than 0.01% to 2,888.32, and the Nasdaq Composite Index dropped 0.2%, to 7,947.36.

Louis Vuitton – “exceptional strength”.

The company behind Louis Vuitton reported revenue that was up 16% from a year ago. Its fashion and leather goods divisions saw 20% growth.

LOUIS Vuitton owner LVMH has set a high bar for rival luxury goods companies all trying to capitalize on Chinese demand for high-end handbags and clothing, as sales growth picked up pace in the first quarter.

Some luxury manufacturers are struggling more than others to hold on to their vital Chinese clients, who make up over a third of industry sales and are increasingly spending on high-end wares at home rather than overseas.

LVMH cited a "buoyant environment" at the start of the year and said all regions were experiencing "good growth". The French conglomerate, which owns other labels like Christian Dior, was boosted by a strong performance in its leather goods unit, while sales of spirits like cognac improved from a quarter earlier.
 

This article was issued by Nadiia Grech, junior trader at Calamatta Cuschieri. For more information visit, www.cc.com.mt. The information, view and opinions provided in this article are being provided solely for educational and informational purposes and should not be construed as investment advice, advice concerning particular investments or investment decisions, or tax or legal advice. Calamatta Cuschieri Investment Services Ltd has not verified and consequently neither warrants the accuracy nor the veracity of any information, views or opinions appearing on this website.