LVMH Relinquishes Place Among Europe’s Top Five Biggest Stocks
Bernard Arnault during an earnings news conference at the LVMH headquarters in Paris.
Photographer: Benjamin Girette/BloombergLVMH lost its place among Europe’s top five listed companies as the luxury-goods maker endures its worst year-to-date slide since the 2008 financial crisis.
The French company’s shares fell about 3% on Thursday, taking their decline for this year to 25%. Its market value of about €239 billion ($270 billion) slipped below that of Swiss packaged-foods maker Nestle SA.