0930 GMT - L'Oreal's momentum seems to be rapidly cooling, Jefferies analysts write in a note. The French beauty giant posted a weaker-than-expected performance for the third quarter at a time when peers also face slowing growth. The company noted a deterioration in the Chinese market, once a key growth engine. The market is nervous about growth sustainability and the sector's future of China, the analysts say. Shares are down 3.3% at 355.15 euros. (andrea.figueras@wsj.com)
(END) Dow Jones Newswires
October 23, 2024 05:30 ET (09:30 GMT)
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