LVMH becomes first European company to surpass $500 billion in market value

Yahoo Finance Live’s Julie Hyman breaks down the rise in stock for LVMH.

Video Transcript

JULIE HYMAN: The luxury goods space seems to be holding up just fine. LVMH became the first European company to surpass $500 billion in market value today. It's the parent company, of course, of Louis Vuitton, Moet Chandon, Hennessy, many other brands. Reported a-- now Tiffany, also. It reported a 17% rise in first-quarter sales earlier this month. That was more than double. Analysts' expectations of LVMH shares hitting a record high, following the results and another high in today's session.