LVMH stock recorded a six-year low on Wednesday, an unprecedented level since the turbulence of 2020. The security is trading in the lower part of the CAC 40, in a market context weakened by a military escalation between Iran and the United States that weighs on overall sentiment.
A six-year low breached during the session, in a market under geopolitical tension
LVMH touched €435.60 during the session, breaking through its previous floor of €436.20 dating from 2020, a year marked by the Covid-19 pandemic. The current price at €437.95 remains below the support level at €443.10, which gave way during the session without being recovered since. Over one month, the security has lost nearly 8%, and over one year the decline has reached more than 13%.
The group is down 1.58% while the CAC 40 is down 0.4% during the session, placing LVMH among the significant declines in the index. The rise in the VIX, up nearly 11% today, reflects a general increase in risk aversion. This tense geopolitical context—Iran launched military strikes against several American installations in the Middle East on September 2, 2026, triggering alerts in Bahrain, Jordan and Kuwait—weighs on all European markets without sparing luxury stocks, which are by nature exposed to an international clientele that could be affected by regional destabilization.
Fundamentals under pressure, between currency effects and declining Chinese demand
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Beyond today's session, LVMH stock has been trading in a degraded configuration for several weeks. The price is below the 20-day moving average at €459.94 (spread of -4.78%), below the 50-day moving average at €474.73 (spread of -7.75%) and below the 200-day moving average at €519.16 (spread of -15.64%). The RSI at 40 is approaching the low zone without entering it, signaling persistent selling pressure without a clear exhaustion signal for now.
On the fundamentals side, LVMH had published its H1 2026 results on July 27 with a tone described as confident by the group, but the risks cited at that time remain relevant: a negative currency effect of -5% weighing on sales and operating profit, and an unfavorable scope effect linked to the disposal of DFS and Marc Jacobs. The luxury sector is also facing a slowdown in demand in China, where gold jewelry sales declined 10.1% year-over-year in July 2026 according to official Chinese data, while Swiss watch exports to China fell 16.5% over the same period. Analysts' views on LVMH remain to be monitored in this context, with BofA Securities having lowered its price target in late August while maintaining a positive view on the security. The next support level to watch is located in the area of the 2020 lows, now being breached.
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.
