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Now let's look at some of the individual stocks on the move today here in Europe. I'm Caroline Hepkett and I'm joined by Blueberg reporter of Chloe Malay. Chloe, good morning, Good morning. So the French market doing very very well thanks to a bit more political optimism. I mean, let's see how long it lasts, but at least for now, the French names up and LVMH in particular is up. Tell us more.
Yeah, LVMH is up, and the broader luxury sector is up this morning on hopes that it might be turning a corner. So LVM matrix is obviously very much a bell weather for that industry. Had sales return to growth in the third quarter, which was a positive surprise given expectations of a continued decline after a couple of tough quarters.
For LVMH, sales at all divisions actually exceeded estimates, including the Fashion and Leather Goods unit, which is the most important one, and even the Wines and Spirit division, which was struggling for a while, also posted revenue growth. It's also worth noting that sells in a China in the region that includes China rowse two percent, which is a big turn around for a region that has seen so much weakness as well over the last couple of years.
So Alyssa saying that this is really a step in the right direction for both LVMH and that kind of wider luxury sector and showing maybe that the slowdown in luxury demand might be easing a little bit and that a pick up in China in particular might be on the horizon. So we saw other massive jumps in other luxury names like carrying at Amez Christian Diure that you
mentioned as well. So we'll see if this materializes as kind of a sector wide story when we get more earnings coming through the next few weeks.
Yeah, that's going to be a very busy time, isn't it. The cat carn't overall though up by the most since at least may overall up by two point four percent this morning. I mean that's also partly so it's idiosyncratics to do those individual names. It is also with the core new the Prime Minister getting the backing of the Socialists and maybe being able to get through at least the next immediate political hurdle of these two no confidence votes tomorrow. We've also been looking at the orders for
the Dutch chip equipment maker ASML. This is the other hugely important part of the market story at the moment.
Yeah, absolutely, so, expectations were very high going to the earnings for ASML. We had seen a really massive rally in the shares over the last month or so and by and large ASML delivered so orders, as you mentioned, be expectations in a third quarter that was driven by massive investments in AI that kind of lead to growing demand for the chip making machines. The boom in AI spanding is a direct boost for SML because it is the only only company that makes the very specific machines
that are needed to produce the most sophisticated chip. So it's a very positive update and we can see that reflected in the shares this morning. There is one tougher spot,
which is at China. The outlook for twenty twenty six in general is cautious because sales to China are expected to decrease significantly in twenty twenty six, and that has to do with ASML being hit by those restrictions on what it can sell to China, given that the US is trying to kind of rain in the chip industry there because it sees it as a threat to national security. So there will be disruptions for SML coming from that to watch out for as well.
Okay, Silantis and a big plan to expand in the US.
Yeah, we'll invest thirteen billion dollars in the US over the next four years, so it will try it'll do that to kind of try and curb the impact of tariffs and reinforce its presence in the US market. This investment was expected. Bloomberg had reported earlier this month that Silantis was set to announce an investment of about ten billion dollars. This is the confirmation and this is really
driving the shares up this morning. It's quite an ambitious attempt by Silantis to try and rebuild a really struggling business in the US. The previous management to kind of prioritize investments in Europe and moved manufacturing to Mexico. So now we see a big strategy shift back to the US with US build products and trying to appeal to US consumers. So the plan is to introduce five new models over those next four years and to try and get Americans to buy is Jeep SUVs again. So let's
see if it works. In any case, Unions in the US are very happy for what it means for work, as we're talking about five thousand factory jobs, so quite significant.
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