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LVMH Dips, Syensqo Rallies, KGHM Polska Falls,
Description
Today's biggest winners and losers in the stock market.
On this episode of Stock Movers:
- LVMH Moët Hennessy Louis Vuitton is selling the Marc Jacobs label to WHP Global as the luxury sector grapples with slowing demand. Separately, Salvatore Ferragamo reported first-quarter revenue that missed analyst estimates.
- Syensqo shares rally as much as 12%, its biggest gain in over 13 months, after the chemicals company reported Ebitda ahead of expectations in the first quarter. Citi said the beat and the improving order book are reassuring investors.
- European miners are heavily underperforming on Friday, as copper continues to retreat from the record-high close seen earlier this week. Accelerating US inflation reduced the chance of rate cuts and a stronger dollar make the red metal more expensive for many buyers. Gold is also falling. KGHM Polska fell as much as 8%.
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