LVMH, L’Oreal recovery in China fuels optimism for outlook

FRENCH consumer giants LVMH and L’Oreal SA said a recovery could start soon after the coronavirus caused sales to plunge in the first quarter, as revenue in China is already bouncing back.

Shares of both companies rose Friday after they gave signs of green shoots in that market, the biggest for luxury goods. LVMH was up as much as 5.9%, while L’Oreal gained as much as 5%.