LVMH seen up after in-line Q1 sales reassure

** Shares in LVMH MC are seen up 3-4% after Europe's second-most valuable company's results Q1 sales rose and roughly met expectations, providing relief to investors cautious about the luxury sector

** Q1 revenue rises 3% organically to 20.7 billion euros ($21.99 billion), in line with consensus in organic terms, says RBC

** "Even the much-debated (Fashion & Leather Goods) division met investors at the bar, +2% bang in line with our and market's expectations, possibly enough to reassure the more cautious investors," J.P.Morgan says

** "Looking ahead, we continue to view expectations for 2H24 top line acceleration as the key unlock for LVMH and the broader luxury sector," says RBC, adding that Paris Olympics could provide a boost for the group

** JPM however says results confirm the sector's "normalization", with China slowing down in particular and other nationalities "not yet turning positive"

** RBC also says results are unlikely to materially change consensus estimates, and seem to be reflected in share price

($1 = 0.9413 euros)