European equities advanced on Wednesday, with France’s outperforming regional peers after (EU:MC) — the luxury group behind Louis Vuitton and Christian Dior — surprised investors with a return to sales growth in the third quarter.
French markets lead amid upbeat data
The reported that French consumer inflation rose as expected in September, reaching its fastest pace in eight months. The consumer price index climbed 1.2% year-on-year, up from 1.0% in August and matching preliminary estimates released on September 30. It marked the highest inflation reading since January, when prices had risen by 1.7%.
Regional performance
The gained 0.6% after a 0.4% drop on Tuesday, supported by broad sector strength. France’s jumped 2.3%, leading the advance, while Germany’s edged up 0.1%. The U.K.’s lagged, slipping 0.3%.
LVMH lifts luxury sector
LVMH shares surged after the company posted stronger-than-expected quarterly revenue, driven by renewed demand in China. The upbeat results sparked a rally across the luxury sector, with peers , , and all advancing between 5% and 8%.
Corporate highlights
- Asetek soared after announcing a long-term supply agreement with a leading PC gaming brand for high-end liquid cooling products built on its Ingrid platform.
- Rexel (EU:RXL) climbed in Paris following higher third-quarter sales, reflecting solid demand in the electrical equipment segment.
- ASML Holding (EU:ASML) gained after the Dutch semiconductor equipment maker reported net orders that exceeded analyst expectations.
- PageGroup (LSE:PAGE) rose sharply after posting a steady third-quarter performance despite ongoing economic uncertainty.
- British Land (LSE:BLND) rallied as the property group lifted its full-year earnings per share guidance, supported by stronger interim profits and gains in portfolio values.
Not all good news
On the downside, Aurubis (TG:NDA) tumbled after major shareholder sold €500 million ($582 million) in bonds exchangeable for a 7.6% stake in the German copper producer, sparking selling pressure on the stock.
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