Global oil majors double quarterly profits while LVMH shares slip on luxury concerns
Major global oil companies nearly doubled their second-quarter profits in 2026, while French luxury giant LVMH saw shares fall after failing to reassure investors on demand recovery.
The world’s six largest oil and gas producers nearly doubled their second-quarter profits in 2026 compared to the previous quarter, buoyed by shifting global energy market conditions.
In contrast, shares of French luxury group LVMH fell in Paris after the conglomerate failed to reassure investors that demand for high-end consumer goods is experiencing a full recovery. The drop reflects broader investor caution regarding luxury market momentum across key global regions.
These corporate financial updates follow previously reported quarterly earnings from Swiss lender UBS, which saw its net profit rise 17% to $2.8 billion during its integration of Credit Suisse, as well as ongoing discussions between European allies and Washington regarding maritime security in the Strait of Hormuz.
Sources: Tanjug
Sources
Earlier coverage
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