8:28am: LVMH boost for Burberry and Diageo
Leading the FTSE 100 risers are Diageo, up 3.6%, and Burberry, up 3.1%, after LVMH reported a pick up sales growth in its fourth quarter.
The Paris-based luxury goods company said after the London close Thursday that organic sales grew 10% to €23.95 billion in the quarter ending December 31, improving from organic growth of 9% in the previous quarter.
This helped LVMH record 2023 revenue of €86.2 billion, organic growth of 13%, up from €79.18 billion the year prior.
It’s been a tough time for luxury retailers with Burberry stock down 45% in the last 12 months so the update provided some welcome relief to the sector.
No more nasty surprises at Remy Cointreau have given Diageo a boost.
8:15am: FTSE 100 jumps with consumer confidence at two-year high
The FTSE 100 leapt on Friday as hopes grew of a soft economic landing in the US and consumer hit a two-year high in the UK.
At…
