The French luxury group LVMH became on Tuesday February 9, 2021 the first European market capitalization and settles in the 22nd place of the largest world market capitalizations.
LVMH overtakes Swiss giant Nestlé on the stock market
The luxury group of Bernard Arnault signs a new record and becomes Tuesday, February 9, 2021 the first European market capitalization, passing in front of the Swiss agri-food giant, Nestlé. Another victory for LVMH, which was since November 2019 the first capitalization of the euro zone.
Thus, at the close of the market on Tuesday February 9, 2021, LVMH recorded a 2% increase in value. A gain that raised its market valuation to 271.6 billion euros, a new record for the French group. This increase allows it to overtake Nestlé, the Swiss giant finding its valuation of 289 billion Swiss francs (or 265 billion euros) unchanged at the close.
LVMH climbs to 22nd place worldwide
With this new increase in its market capitalization, the luxury group LVMH is getting a little closer to the top 20 of the most valued companies in the world. The gain of 2% allows LVMH to reach 22nd place in the world ranking of the largest stock market capitalizations. On the world market, its valuation is 328 billion dollars.
Since December 31, 2020, the French group has gained two places in this world ranking. To reach 20th place, LVMH must still surpass two groups specializing in payments: Paypal, valued at $ 329 billion and Mastercard valued at $ 331 billion.
LVMH’s rise in valuation enabled it to set a new French record in November 2020, by surpassing the nominal record of 250 billion euros in stock market valuation held since 2000 by France Telecom.