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FX.co ★ European Stocks Rebound Led by Luxury Stocks

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typeContent_19130:::2025-10-15T15:26:27

European Stocks Rebound Led by Luxury Stocks

European equities witnessed a resurgence on Wednesday, with the Stoxx 50 rising nearly 1% and the Stoxx 600 advancing by more than 0.5%. Leading the charge were luxury stocks, as LVMH soared by 12% on revenue results that surpassed expectations, which subsequently buoyed Hermès (+7%), Moncler (+7%), Richemont (+6%), Kering (+5.3%), and Burberry (+3.3%). The technology sector also contributed to the upward momentum, with ASML experiencing a 3.4% increase following optimistic earnings and projections extending to 2026, driven by the demand associated with AI investments. France's CAC 40 gained 2.2%, marking its most significant rise since April, amidst investor confidence in Prime Minister Sebastien Lecornu's administration to withstand impending no-confidence votes. Further bolstering sentiment was Lecornu's announcement of postponing the contentious pension reform until after 2027, which garnered support from Socialist factions. Trade tensions subsided later in the day after a statement from US Treasury Secretary Scott Bessent suggested a potential postponement of tariffs on China. Conversely, Germany's Aurubis saw a decline of over 6%, following Salzgitter's issuance of €500 million in convertible bonds related to its ownership stake.

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