Although economic activity remained soft, many indicators appear to have stopped deteriorating, suggesting a potential turning point for China's economy as it faces ongoing challenges.
"LVMH's shares dropped as much as 7% following the news on Tuesday, leading to a massive loss of $13 billion in Arnault's wealth, highlighting the fragility of luxury markets amid China's uncertain recovery."
Burberry's exit from the FTSE 100 reflects a combination of strategic missteps and declining demand, largely due to economic pressures in China heavily impacting the luxury market.