STOXX 600 hits record high
STOXX 600 up 0.1%, record high
Luxury leads
Moncler surges on LVMH deal
Wall St futures lower
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STOXX 600 HITS RECORD HIGH
The pan-European STOXX 600 .STOXX index rose to a record high on Friday, jumping above the previous all-time peak at the end of August.
The index was last up around 0.1%, but has gained around 2.3% this week, with shares buoyed by a stimulus push by China to boost growth, even as indications about the euro area economy remain weak.
In corporate news, MonclerMONC.MI shares top the index, up 9%, after its chairman and CEO reached a deal with LVMHLVMH.PA that will see the French luxury conglomerateinvest in the Italian outerwear specialist. LVMH shares are up 2.5%.
Luxury stocks have generally outperformed this week on the back of China stimulus. The STOXX Luxury 10 index .STXLUXP has gained over 12%, its biggest one-week jump in the index's short history since June 2016.
Meanwhile, Novo Nordisk, Europe's largest company by market cap, is down 3.1% after JPM cautioned they see Q3 results coming in below early consensus.
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(Samuel Indyk)
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FRIDAY'S OTHER LIVE MARKETS POSTS:
EUROPEAN FUTURES STEADY CLICK HERE
BEIJING PULLS OUT THE POLICY STOPS CLICK HERE
Chinese stocks roar on stimulus-fueled optimism https://reut.rs/3Bx3wx6
European shares edge up, Wall St futures lower https://reut.rs/47JWFN5
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