Macron says Notre Dame will be rebuild in five years 

The French President Emmanuel Macron said today that the Paris cathedral Notre Dame will be rebuild within five years. He was speaking to the nation about the situation on Tuesday evening. On Monday vast part of the church was destroyed by a fire.

During the day there have been several annoucements about donations to the reconstruction of the cathedral. The sum is now more than 700 million euros. The first big donations were published by the leading luxury brands.

– Yes, we will build the cathedral of Notre Dame even more beautiful than it was. But this must be done in five years. We can do that, he said.

The fire lasted about 12 hours and according to Bloomberg, some of the major treasures were removed to City Hall, like the Crown of Thorns and Louis IX tunic and some others to Louvre. According to the Culture Minister Franck Riester it seems that the rose windows were not damaged. The cathedral is a 850 years old Gothic style Unesco heritage site.

The Paris stock markets closed up today, the CAC 40 up 0,36 % to 5528 points. The German DAX index closed also up, 0,67% to 12101 points. And London FTSE closed up 0,46% to 4092 points.

Business Design

LVMH revenue growth + 16 % 12,5 billion euros Q1 2019

The world largest luxury group,the French LVMH Group (LVMH) published today its first quarter revenues. According to the company info, the total revenue was 12,5 billion euros, with 16 % growth from the year earlier. The company share was up 0,75 % to 329, 75 euros in Paris Stock Exchange. The S&P global luxury index was up 0,48 % to 3341,95 points today.

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Picture: Hublot´s and Ferrari´s co-operation in the BaselWorld 2019

One of the best increases was in the fashion & leather division, which showed a 20 % increase. According to LVMH, the luxury fashion brand Christian Dior performed exceptionally well during the period. In the wines division, the Hennessy cognat increased by 11 %. Perfumes showed an increase of 12 % and watches & jewellery 9 %.  Selective retailing increased by 13 %.

-The innovative products presented by LVMH’s watch brands at the Baselworld Watch & Jewelry Fair were very well received, including Hublot’s Classic Fusion Ferrari GT watch, Bvlgari’s Serpenti Seduttoriand Octo Finissimo Chronograph GMT Automatic watches, TAG Heuer’s connected watch model for golfers, and Zenith’s new Defy Inventor and Defy El Primero 21 Carbon models, the group said in the press release.

The Group has also opened a new brand flagship store in New York, in the ultra modern and high-design area in the Hudson Yards Development in Manhattan. From the online sales, the group said “the online sales grew strongly”.

The Group is arranging a confcall for analysts on Thursday for more information.

Business Finance Lifestyle

Amundi to start trading in Euronext Paris in November

The European leading Asset Management company, Amundi Asset Management is to start its trading in Euronext Paris in November. The trading day is expected to be the 16th. The company announced today that the indicative price range would be 42-52,50 euros per share.

Societe Generale has said it will sell its 20 percent ownership (33,4 million shares) in Amundi in the IPO and Credit Agricole will reduce its ownership so that its stake will be between 74,6 – 77,6 percent. It also said it has agreed to sell 2 percent of Amundi shares to Agricultural Bank of China to expand their co-operation.

Amundi, which assets under management were 954 billion euros in June (51 percent fixed income, 13 percent equities and 17 percent treasury) said it is well positioned to benefit from the fundamentals of the assets management markets that favor sustainable growth.

Amundi provides diversified expertise across all major asset classes, offering full coverage of the investment management ecosystem.

The company is the biggest in Europe and the 8th biggest globally. The global AUM markets are estimated to be 61 trillion euros.

Business Finance