20-Apr-2011 2:41 PM
LVMH leads better day for European stocks
Shares in LVMH Moet Hennessy Louis Vuitton rose 5.5% on Tuesday, with the company reporting a 17% increase in sales in 1Q2011, to EUR5.25 billion, and double-digit organic growth across all business units. The company reported US and European sales are returning, while Asia remained strong.
LVMH Finance Director Jean-Jacques Guiony, expects to overcome regulatory hurdles to its EUR4.3 billion acquisition of Bulgari May/Jun-2011.
Elsewhere, Hellenic Duty Free shares gained 2.9%. Lotte Shopping Co shares were 2.3% lower.
Selected airport duty free, retail and catering share price movements (% change): 19-Apr-2011
