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LVMH MOňT HENNESSY LOUIS VUITTON SE

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European stocks end ECB week lower after stimulus slows as expected

09/10/2021 | 04:22am EDT
FILE PHOTO: German share price index DAX graph is pictured at the stock exchange in Frankfurt

* STOXX 600 down 1% this week

* LVMH up after HSBC recommends 'buy'

* Healthcare, real estate stocks worst weekly performers

* Rubis tumbles on Caribbean woes

Sept 10 (Reuters) - European stocks closed lower on Friday, down more than 1% this week as investors weighed risks from tighter monetary policies after the European Central Bank signaled a slowdown of pandemic-era bond purchases.

The pan-European STOXX 600 index fell 0.3% and declined for four of five sessions this week as worries persisted about a slowing global economic recovery.

Still, defensive sectors such as healthcare and real estate notched the biggest weekly declines, as investors positioned for a possible pickup in economic growth.

News of a call between Chinese leader Xi Jinping and U.S. President Joe Biden offered some relief to battered Asian stocks, particularly tech companies that have come under heightened regulatory scrutiny in Beijing.

Tech stocks in Europe rose 0.7%, while luxury stocks got a boost as France's LVMH rose 0.8% after HSBC recommended buying the stock.

China-exposed miners were the biggest gainers on the day, up 1.1%

European stocks found support after the ECB stressed it was not about to close the money taps despite projecting higher growth and inflation for the euro zone.

"The outcome of the meeting is likely to be supportive in the short term," Unicredit analysts said.

"But even if ECB President Christine Lagarde was cautious in highlighting that the decision was a just a recalibration, a "real" tapering is probably coming next year, provided that economic conditions remain good enough," they added.

European shares have hovered below their mid-August record highs on the back of strong earnings and recovery prospects, but major money houses are skeptical of further gains, particularly in U.S. stock markets that is home to high-growth companies.

Data showed Britain's economy unexpectedly slowed to a crawl in July as the Delta variant of COVID-19 spread rapidly.

Among other stocks, Fresenius Medical Care dropped 4.8% after J.P.Morgan downgraded the stock to "underweight."

French energy storage group Rubis fell 8.0% and was the biggest decliner on the STOXX 600 after it flagged difficulties in its Caribbean business.

BioNTech rose 2.5% after two executives at the German biotech firm told Der Spiegel the company is set to request approval across the globe for use of its COVID-19 vaccine in children as young as five. (Reporting by Sruthi Shankar in Bengaluru; Editing by Sherry Jacob-Phillips, Saumyadeb Chakrabarty and David Gregorio)


© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
FRESENIUS MEDICAL CARE AG & CO. KGAA -1.40% 60.42 Delayed Quote.-11.41%
LVMH MOËT HENNESSY LOUIS VUITTON SE -2.23% 650 Real-time Quote.27.23%
RUBIS -0.96% 28.78 Real-time Quote.-24.22%
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Analyst Recommendations on LVMH MOňT HENNESSY LOUIS VUITTON SE
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Financials
Sales 2021 61 856 M 71 873 M 71 873 M
Net income 2021 10 624 M 12 344 M 12 344 M
Net Debt 2021 12 426 M 14 439 M 14 439 M
P/E ratio 2021 30,8x
Yield 2021 1,25%
Capitalization 327 B 380 B 380 B
EV / Sales 2021 5,49x
EV / Sales 2022 4,86x
Nbr of Employees 148 343
Free-Float 52,3%
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LVMH MoŽt Hennessy Louis Vuitton SE Technical Analysis Chart | MarketScreener
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Technical analysis trends LVMH MOňT HENNESSY LOUIS VUITTON SE
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TrendsBullishNeutralBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 29
Last Close Price 650,00 €
Average target price 743,48 €
Spread / Average Target 14,4%
EPS Revisions
Managers and Directors
Bernard Arnault Chairman & Chief Executive Officer
Jean-Jacques Guiony Chief Financial Officer
Charles de Croisset Independent Director
Diego della Valle Independent Director
Yves-Thibault de Silguy Independent Director
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