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Why LVMH Stock Popped Today

TheMotleyFool

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Shares of Louis Vuitton Moet Hennesy (OTC: LVMUY) were moving higher today in symphony with a strong earnings report from luxury peer Richemont (OTC: CFRUY), the owner of Cartier. The results seemed to indicate a long-awaited recovery in the luxury sector, and sector stocks broadly gained on the news.

As of 1:07 p.m. ET, LVMH stock was up 9.8%, compared to Richemont's 15.4%.

Image source: Getty Images.

Source Fool.com