LVMH launches 300 mln euros share buyback programme

French luxury firm LVMH said on Wednesday it would launch a share buyback programme worth 300 million euros ($321 million) on Thursday and that it would run until the end of the year.

"LVMH has committed to buy each day a variable number of shares at market price, for an aggregate amount of 300 million euros, over a period from Nov. 17 up until Dec. 30," the group said in a statement, adding acquired shares would be cancelled.

LVMH shares closed down 1.99 percent at 162.5 euros.

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