LVMH shares less than 1% above their 379.50 € support, lowest in 6 years
The world's number one luxury group edges lower late in the session, in a Paris market that is nonetheless well oriented. The stock remains below its main moving averages and extends a deeply deteriorated underlying trend, which is also seen at its two major sector peers.
A stock below its moving averages while the CAC 40 rises
While the CAC 40 gains 1.25% during the session, LVMH shares fall 0.3% to 383.85 €. It closes the ranking of declining stocks, just ahead of Carrefour and Stellantis, and ranks among the largest decliners in the index.
The stock is below its 20-day moving average (MM20: 386.45 €, gap of -0.67%) and well below its 50-day moving average (MM50: 407.25 €, gap of -5.75%).
The 379.50 € support, reached on October 13 at the lowest level in six years, sits about 1% below the share price. The 18.4% decline over three months shows that this session does not change the trend: the day's drop is modest, but it fits within a downward slope in place since summer.
A luxury sector under prolonged pressure, amid Chinese demand concerns
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Kering and Hermès nevertheless rise this Thursday (+0.82% and +0.48%), but their trajectories remain weak: Kering loses 20.4% in one month and 39.2% over three months, Hermès 6.4% over one month.
On the fundamentals, the group published on October 12 third-quarter revenue of €18.5 billion, up 1% organically, with fashion and leather goods down 5%.
At the release of its first nine months of 2026 results, LVMH cited among its risks a slowdown in demand in China, and among its growth drivers jewelry and watches (+8% organically) and Sephora.
Recent Chinese statistics point in the same direction, with jewelry and gold down 9.6% year on year in September, according to the National Bureau of Statistics. The group has also bought back €2.9 billion of shares over twelve months, or 1.5% of its market capitalisation. The 379.50 € support remains the level to watch.
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.
