LVMH, once Europe's most valuable company, falls out of the top ten

LVMH has lost its crown as France's most valuable company and dropped out of the top ten listed companies by market capitalization in Europe. For the luxury giant that led the European market during the post-pandemic boom, this is a symbolic reversal. The stock fell 2.6% on Tuesday, shrinking its market value to 201 billion euros and falling below L'Oreal. This shift pushed LVMH out of Europe's top ten for the first time since 2017. Currently, the top three by market value are ASML Holding, Roche, and HSBC. "Those who claim Europe has made a comeback are wrong; Europe has not come back: what LVMH tells us is that its main growth engineluxuryhas failed," said Vincent Juvyns, chief investment strategist at ING in Brussels.