European shares advance as LVMH and SAP figures offset inflation fears

Irish Times | Oct 13, 2021 at 8:14 PM
  • European stocks advanced Wednesday as German software giant SAP and French luxury goods group LVMH reported solid quarterly figures, though gains were contained as inflation fears kept many investors on the sidelines.
  • UK fund manager Man Group rose 7.6 per cent and was the top gainer after its assets under management rose to a record $139.5 billion (€161.5 billion) in the third quarter.
  • French luxury goods maker LVMH added 3.2 per cent as sales at its fashion and leather goods division rose strongly in the third quarter but overall revenue growth in Asia and the US eased after a stellar first-half performance.