Stocks climb at Louis Vuitton & Dior

Shares of LVMH, owner of Louis Vuitton and Dior fashion houses, surged to an all-time high. On the eve of the company published financial statements, which speaks of an increase in sales by 30% compared to January-March 2020. Amid swelling, shares of the LVMH group of companies, on Wednesday, rose to their all-time high, Reuters reports. At its high for the day, the company's shares in Paris traded at € 613.9, adding 3.2% to the closing price of the previous session. At the time of publication at 11:53 Moscow time, LVMH shares were worth € 612.5. Some of the company's indicators have even surpassed pre-pandemic values. The company's revenue in the first quarter of 2021 amounted to almost € 14 billion, which is 9% higher than JPMorgan forecasts, Reuters notes. Organic sales growth, excluding currency changes and the purchase of the Tiffany jewelry company, was 30% compared to January-March 2020 and 8% compared to the first quarter of 2019. According to the agency, LVMH owes such a quick recovery, in particular, to Chinese and American clients who "took advantage of the softening of antiquated restrictions" and went shopping. "