LVMH's strong Q3 numbers lift European luxury good stocks
PARIS, Oct 10 (Reuters) - Shares in LVMH rose on Thursday, lifting up other European luxury goods stocks, after the Louis Vuitton owner posted higher-than-expected third quarter sales.
LVMH's strong sales came in spite of unrest in Hong Kong that has caused luxury labels to lose out on business there.
LVMH shares were up by around 5% in early session trading, driving up the stock prices of its rivals such as Kering , Hermes and Hugo Boss.
"Overall, LVMH posted another very strong performance in 3Q, materially beating consensus expectations," wrote analysts at Morgan Stanley.
(Reporting by Sudip Kar-Gupta; Additional reporting by Elaine Hardcastle Editing by Sarah White)
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