L’Oreal’s shares recently rose after the French cosmetics company surpassed first quarter sales forecasts.
The stock increased 1.5 percent in early trading, which is of the biggest gains on Paris’ benchmark CAC-40 index.
L’Oreal reported earlier this week that it experienced higher-than-expected first quarter sales growth. Sales increased 11.4 percent to 7.6 billion euros ($8.6 billion), and were up 7.7 percent on a like-for-like basis.
“2019 like for like sales off to a strong start, boosted by Asia,” wrote Liberum, keeping a “hold” rating on L’Oreal shares.
