Pursuits
LVMH Leads Luxury Share Slide as Terror Attacks Damp Tourism
- Stock declines as much as 3.8%; France hit by fall in tourism
- LVMH had proven resilient to waning demand for high-end items
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LVMH dragged luxury stocks lower after the maker of Celine handbags reported weaker-than-expected revenue growth, dealing a fresh blow to industry sentiment.
LVMH shares fell as much as 3.8 percent in Paris, the most since Feb. 11. Gucci-owner Kering SA declined 2.2 percent, while Burberry Group Plc dropped 2.9 percent in London.