Following LVMH, Luxury Sector Shares Move Higher

The luxury world often looks to LVMH Moët Hennessy Louis Vuitton for guidance, reading tea leaves in the powerhouse company’s results for a sense of where the market is headed. In the stock market on Wednesday, LVMH was moving up — and most of the rest of the industry followed after the firm reported that organic sales returned to growth with a 1 percent bump up in the third quarter. More from WWD Shares of LVMH shot up 12.2 percent to 597.90 euros, leaving it with a market capitalization over 300 billio ...