Stock Movers LVMH Losses, Ferritti Plot, GSK Rapt
Jan 20, 2026
Louise Moon, Breaking News editor at Bloomberg, dives into the current state of the luxury market, highlighting LVMH's struggles amid potential U.S. tariffs on French wines. She discusses the escalating shareholder battle involving Ferretti and its ties with major investor Weichai Group. Additionally, Moon analyzes GSK's strategic $2.2 billion acquisition of Rapt Therapeutics, aimed at enhancing their pipeline for inflammatory and immunologic diseases, amidst challenges under new leadership.
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Tariff Threats Hit Luxury Stocks
- LVMH shares sank after Trump signaled he might impose a 200% tariff on French wines and champagnes.
- The stock hit levels last seen in October and extended a losing streak to seven sessions, the longest since March.
Existing Tariffs Amplify Sector Weakness
- Trump's prior 10% tariff move and broader sector weakness have already weighed on LVMH.
- Luxury brands like Moet and Veuve Clicquot are specifically exposed to tariff-related downside.
Proxy Battle Erupts At Ferretti
- KKCG Maritimes, Ferretti's second-largest investor, plans a shareholder vote to oust directors linked to Weichai Group.
- The move escalates a long-running clash over control, buybacks, and alleged spying between the two shareholders.