European shares are set to snap a six-day winning run on Wednesday, hurt by underwhelming results from French luxury goods giant LVMH as well as nerves ahead of the Federal Reserve's interest rate decision later in the day.
dropped 4.1% premarket after it laid out an aggressive spending plan to meet demand for its new artificial intelligence services., which is widely expected to raise interest rates by a quarter of a percentage point, possibly its last move in its aggressive monetary tightening cycle.
The European Central Bank is seen hiking rates by 25 basis points to the 3.5%-3.75% range on Thursday, with weak economic data recently dampening expectations of another hike in September. "We expect the Governing Council to adopt neutral language for September meeting, signalling that a further rate hike is a possibility but not a done deal, and will depend on incoming data," according to a note published by Vanguard Asset Management.
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European stocks lower; LVMH weighs ahead of Fed rate decision By Investing.com⚠️BREAKING: *EUROPEAN SHARES SINK ACROSS THE CONTINENT; FRANCE'S CAC 40 DOWN ALMOST 2% 🇪🇺🇩🇪🇫🇷🇮🇹🇳🇱🇪🇸
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LVMH joins top-tier French sponsors of 2024 Paris Olympics and ParalympicsIts collaboration with the Games will include various company brands like Louis Vuitton, Dior, Moet Hennessy and Chaumet.
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LVMH strikes Paris Olympic Games sponsorship dealLuxury giant LVMH unveiled on Monday a deal to sponsor next year's Olympic Games in Paris with top fashion brands Louis Vuitton and Dior, Moet Hennessy champagne and spirits labels and jeweller Chaumet, which will design medals for the event.
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LVMH Signs on as Premium Partner of Paris 2024 Olympic and Paralympic GamesCapping months of speculation, LVMH Moët Hennessy Louis Vuitton on Monday signed on to become a premium partner of the Paris 2024 Olympic and Paralympic Games.
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LVMH to Sponsor the 2024 Olympic Games in ParisIt’s official: after months of discussions, LVMH announced today it is sponsoring the Paris 2024 Olympic and Paralympic Games as a premium partner, the highest level.
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LVMH strikes Paris Olympic Games sponsorship deal | CNNLuxury giant LVMH unveiled a deal to sponsor next year’s Olympic Games in Paris with top fashion brands Louis Vuitton and Dior, Moët Hennessy champagne and spirits labels and jeweler Chaumet
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