lvmh became the first European company to pass the threshold 500 billion dollars of capitalization of Stock Exchange. A goal that no other listed company on the Old Continent could achieve. It is in fact the first time that a European company is worth so much. An important news, but not unexpected given that only 10 days ago the French luxury giant had entered the ranking of 10 largest companies in the world.
Lvmh: capitalization exceeds 500 billion dollars
At the time of writing, on the Paris Stock Exchange the Lvmh title earns 0,1% to 902,2 euros per share for a market cap of 452 billion euros (497,3 billion euros). At today's intraday high, equal to 904,60 euros (995,69 dollars), the market capitalization of the company was about 500,2 billion dollars, about 454 billion euros.
How did the luxury giant reach a milestone that no other European company has reached before? The shares gained over 16% since last March 15 alone, lengthening the pace after 12 April, the day on which the group announced the trend in revenues for the first quarter, clearly higher than expected: thanks to the reopening of China and the growth of global demand of luxury goods, the growth was 17 percent to over 21 billion euros. To affect, second Bloomberg, is also the strengthening of the euro which crossed the threshold of 1,10 dollars, allowing the 454 billion euro capitalization of the group led by Bernard Arnault to "transform" into 500 billion dollars.
