L'Oréal Shares on the Rise

The French cosmetics group beat first-quarter sales forecasts


Picture of the headquarters of  French group L'Oréal, the worlds largest cosmetics maker.

Accoring to ReutersL’Oréal's the stock was up around 1.5% in early trading, among the biggest gains on Paris’ benchmark CAC-40 index.

L’Oréal reported late on Tuesday higher-than-expected first-quarter sales growth. Across the group, sales rose 11.4% to 7.6 billion euros ($8.6 billion), and were up 7.7% on a like-for-like basis.

“2019 like for like sales off to a strong start, boosted by Asia,” wrote brokerage Liberum, keeping a “hold” rating on L'Oréal shares.

Reporting by Sudip Kar-Gupta and Sarah White; Editing by Mark Potter.

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