LVMH Shares Drop Nearly 2% Falling Below MM20, Dragged Down by Luxury Sector

LVMH Stock Falls Below Its MM20 and Is Among the Worst Declines in the CAC 40

LVMH stock loses 1.86% at €483.15 at midday, while the CAC 40 advances by 0.26% to 8,388.82 points. The stock is among the largest declines in the index, following a pressured luxury sector with Kering down 5.55% and Hermès down 1.33%. The decline erases part of the June rebound, which had pushed the value above €492 last week, as mentioned in the session of June 24. Regarding indicators, the price has fallen below its MM20 (€492.15, gap -1.83%) but remains above its MM50 at €477.01, which becomes the first short-term technical support. The RSI at 51 remains neutral and sends no exhaustion signals, while the MM200 at €542.50 remains more than 10% away, setting a medium-term ceiling. The weekly performance is almost null (+0.37%), after a gain of 2.14% over the month.

Luxury Market Conditions in China and Sectorial Arbitrages in the Background

Today's decline is part of an ongoing poor situation for luxury in China: retail sales of jewelry and gold fell by 8.9% year-on-year in May 2026 according to the NBS, and French exports of wines and spirits decreased by 4% in value in the 2024 review (FEVS). In watchmaking, Swiss shipments to mainland China rebounded by 17.1% and by 13.5% to Hong Kong, but the global aggregate still fell by 16.6%, signaling fragile global demand. In Sintra, Christine Lagarde defended one of the ECB's recent rate hikes, raised to 2.25%, with eurozone inflation remaining at 3.2% in May, a rate environment that traditionally weighs on the multiples of growth stocks. The technical support to watch remains fixed at €460.85, a level that bounds the bottom of the consolidation channel observed since spring. The resistance at €520.30 constitutes the upper horizon of the same range. The next concrete appointment for the stock will be the publication of the half-year results, traditionally expected at the end of July.