London, United Kingdom – Luxury group LVMH saw its shares rise by 2.5% despite a slowing in sales growth. The company reported a 3% increase in sales during the first quarter of the year, down from 17% growth seen in the same period last year. This slowdown was attributed to higher prices affecting consumer demand for its Louis Vuitton and Dior brands.
In other financial news, European stocks opened higher, with the Stoxx 600 index climbing 0.12% in early trading. France’s CAC 40 was up 0.5%, Germany’s DAX saw a 0.1% increase, while the U.K.’s FTSE 100 remained flat at the opening.
Meanwhile, UK inflation eased to 3.2% in March, slightly higher than the expected 3.1%. This data, released by the Office for National Statistics, showed a decrease from the 3.4% recorded in February. Core inflation, excluding certain categories like energy and food, came in at 4.2%. Investors are closely monitoring these figures for hints on potential changes in interest rates by the Bank of England.
Investment bank Jefferies predicts a nearly 100% increase in the share price of a cybersecurity company, following a 75% rise over the past year. The stock’s momentum has been noteworthy, more than doubling since hitting an all-time low in early 2023.
Amidst geopolitical risks and macroeconomic uncertainty, Morgan Stanley has highlighted the importance of dividend stocks in today’s volatile market. The firm’s analysts named their top global dividend stocks for the quarter, emphasizing the favorable conditions for such investments.
European markets are expected to open higher, with the FTSE 100, DAX, CAC, and FTSE MIB all showing positive projections. Earnings reports from companies like ASML and Asos, along with the release of UK inflation data, will also shape market sentiment for the day.