Hermes Shares Jump After LVMH Increases Stake to More Than 20%

Hermes International SCA rose as much as 5 percent in Paris trading after larger luxury-goods rival LVMH Moet Hennessy Louis Vuitton SA said it increased its stake in the Birkin bag-maker to more than 20 percent.

Hermes gained as much as 7.80 euros to 164.45 euros, the highest price since Dec. 3. LVMH said late yesterday it has purchased more Hermes shares on the market, raising its holding from the 17.1 percent announced in October.