Overall market situation:
Sentiment in the European market remains positive. Most sectors are currently gaining strongly, except for fashion stocks, where LVMH's results are damaging investor sentiment. The German DE40 is currently adding close to 1%. The economic calendar today focuses on Wall Street earnings and Canadian CPI data.
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Distribution of today's European stock returns. Source: xStation
The German DE40 is gaining 0.97% today on an intraday basis. The extension of the gains is taking the contract down to the 100-day EMA (purple line) and the local highs from April 9 and 10, which are a point of technical resistance. Source: xStation
News:
Investors' attention is particularly drawn to fashion companies today, and in particular to LVMH (MC.FR) shares, which are losing nearly 7% today after the fashion giant failed to reassure investors with its Q1 2025 results. The scale of today's declines means that MC.FR is losing its position as the leader of the largest fashion company and is losing ground to Hermes (RMS.FR).
Selected LVMH Q125 results:
- Revenue: EUR 20.31 billion (EUR 21.14 billion forecast)
- Organic revenue: -3% (+1.1% forecast)
- Organic clothing and leather goods sales: -5% (-0.55% forecast)
- Organic wine and spirits sales: -9% (-4.49% forecast)
Source: LVMH
The company cited difficult macroeconomic conditions, weaker demand in the US and China, and the high base from last year as the main reasons for the weaker results.
LVMH shares are falling to the lowest levels observed since 2020. The technical trend remains extremely downward. Source: xStation
Automotive companies are also doing relatively well, as Donald Trump has announced that he wants to “help” car companies and the White House may introduce some changes in relation to customs changes in the near future.
Source: XTB
BE Semiconductor (BESI.NL) shares gain 8% after Applied Materials acquired a 9% stake in the company.
