LVMH Shares Drop 3.6% to €455.70, Erasing Early May Rebound
Shares of the world's leading luxury company fall to €455.70 at mid-session, down 3.6% from the last close. This movement is the most significant in the CAC 40, which is down 0.97%. LVMH thus erases the rebound that began last week and falls below its main moving averages.
Luxury Sector Drags LVMH to the Bottom of the Index
LVMH is the biggest loser in the CAC 40 at midday, with a decline of 3.6% to €455.70. The luxury compartment is under pressure overall: Hermès is down 2.41%, Kering 1.53%, in a Parisian index that is down 0.97%. The sector's situation remains mixed. Swiss watch exports to China are up 4.2% year-on-year and sales of jewelry/gold in China show an increase of 11.7% in March according to official statistics. However, French exports of wines and spirits fell by 4% in value in the 2024 report, and the OECD leading indicator for China remains at 98.8, below trend. The stock now shows a decline of 15.25% over three months and 8.08% over a year. As a reminder, the group had posted a revenue of 19.1 billion euros in Q1 2026 in mid-April, down 6% in reported data but up 1% organically. Based on the consensus of 19 analysts (updated May 8), the stock is trading at about 20.3 times the expected earnings for the current fiscal year, compared to 14.5 times on average in the discretionary consumer sector.
Below Moving Averages, Support at €444.95 in Sight
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At €455.70, the price is below its three moving averages: €472.72 for the MM20 (a gap of -3.6%), €481.42 for the MM50, and €542.73 for the MM200 (a gap of -16%). The rebound observed at the beginning of May, which had brought the stock above €475, thus fades in a single session. In the Bollinger bands, the price is lodged in the lower part, at 22% of the lower boundary set at €442.24. The RSI at 49 remains neutral and does not indicate any extreme configuration. The technical support identified at €444.95 remains the key downward threshold, about 2.4% from the current price; the resistance at €499.40 is significantly distancing itself. The next calendar appointment for the stock remains the publication of the semi-annual revenue expected in July, in accordance with the group's usual schedule.
LVMH will draw on its powerful brands and the talent of its teams to reinforce its global leadership position in luxury goods once again in 2026
Risks mentioned
Uncertain geopolitical and economic environment affecting global business activity
Slowdown in demand in China impacting Fashion & Leather Goods segment
Market sensitivity to exchange rate fluctuations (negative 3% impact in 9M 2026)
Opportunities identified
Continued growth in Watches & Jewelry with 8% organic growth driven by strong jewelry performance
Strong performance of Sephora in Selective Retailing with market share gains and network expansion
Recovery in Wines & Spirits champagne business and good momentum in Asia for Hennessy cognac
Outlook / guidance
Management commentary: LVMH will draw on its powerful brands and the talent of its teams to reinforce its global leadership position in luxury goods once again in 2026. Despite an economic and geopolitical environment that remains uncertain, the Group remains confident and will maintain a strategy focused on continuously enhancing the desirability of its brands.
The information presented in this article is provided for informational purposes only and does not constitute an investment recommendation, an incentive to buy or sell a financial asset, or investment advice. Readers are invited to conduct their own research before making any decision.
Investments in the stock market involve risks, including the risk of capital loss. Past performance of an asset or market is no guarantee of future results. Any investment decision should be made taking into account your personal financial situation, objectives and risk tolerance.
