As well as being the proxy for the Paris stock market, LVMH is also a pretty good steer for the rest of the luxury branded goods sector.
And its third quarter update next week will be closely watched to see if the gloomy mood over Chinese and US demand is lifting.
LVMH, the owner of Moet Hennesey champagne, Givenchy and Louis Vuitton luggage and handbags enjoyed a storming first four months of the year but fears over a US recession slowing down spending on luxury goods have seen its shares slide 13% since July, even knocking boss Bernard Arnault of the rich list top spot.
Analysts expect LVMH’s update to reflect the headwinds with revenue growth across the sector of as little as 3% predicted by some, though LVMH is expected to be much better than this.
More important, they say will be any indication the issues in the US nad China s might be easing.