French luxury goods group Kering has joined the Euro STOXX 50 index, one of the major indexes of listed shares of the euro area.
The Euro STOXX 50 comprises the 50 largest listed stocks in the eurozone, in terms of free-float market capitalisation.
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Kering shares have been listed on the Euronext Paris since 1988 and have been part of the CAC 40 index since 1995.
“I am delighted to see Kering’s shares listed on the Euro STOXX 50. The fact that the group founded by my father in 1963 is now one of the fifty largest market capitalisations in the eurozone is a recognition of the entrepreneurial values that have always guided us,” says CEO François-Henri Pinault. “This symbolic step illustrates our increasing value creation and the relevance of our development model. It demonstrates the confidence of the market in our ability to achieve profitable, sustained and consistent organic growth.”
The group posted a profit hike of more than 185% in the first half of 2018, hailing an “excellent” six-month performance in which it refocused on luxury.
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By GlobalData
