Just – European stocks rose, today, Friday, to an all-time high, led by a continued rise in stocks exposed to China, against a backdrop of significant economic stimulus from the financial authorities in Beijing, while the gains of “Moncler” and shares of the luxury goods sector also supported the index..
The European Stoxx 600 index rose 0.2% to an all-time high of 526.70 points at the start of the day, according to Reuters.
The index is heading for its best week in more than a month, if gains continue.
China-focused luxury goods stocks lifted the index’s performance, outperforming”LVMH“of billionaire Bernard Arnault, the fourth richest man in the world, and”Hermes“and”dry“and”Hugo Boss “and”Burberry “Profits are between 3-4%%.
Chinese stocks are heading for their best week since 2008.
Earlier today, China’s central bank lowered the borrowing cost for repurchase agreements for seven days, as part of the biggest stimulus package since Corona.
Moncler shares rose 11.8%, after CEO Reuvini ended a deal with… LVMH“, which will be evidence of partnership LVMH Le Rovini to invest more in Italian luxury goods group.
The region’s personal and household goods sector led sector gains, rising 1.6%.
French consumer prices rose less than expected in September, according to CPI figures. France’s CAC index rose 0.3%.
Spain’s main stock exchange, IBEX, was trading flat after data showed inflation in the country fell to 1.7%.
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2024-09-27 08:45:58
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