L’Oreal rallies as quarterly results offset China concerns

L’Oreal’s shares rose on Friday after fourth-quarter figures from the French cosmetics company allayed concerns over the impact of China’s coronavirus health crisis on its business.

Late on Thursday L’Oreal said that fourth-quarter revenue had risen 11.4% to 7.9 billion euros (£6.7 billion), lifting its share price by 2.7% in early trading on Friday.

L’Oreal said China’s coronavirus crisis would have only a short-term hit on the company’s Asian business, which is its biggest sales driver.