European Stocks Rise as LVMH, Daimler Rally; Brexit in Focus
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European equities advanced as luxury goods, travel and autos sectors rose, outweighing concerns over rising coronavirus cases and the state of progress in Brexit trade talks.
The Stoxx Europe 600 Index closed up 1.3%. LVMH shares hit their highest level since January, after the firm benefited from a rebound in appetite for Louis Vuitton goods in the third quarter. Daimler AG rose 5.5% after its profit beat estimates thanks to recovering car sales and cost cuts. Thyssenkrupp AG rose 11% after Sanjeev Gupta’s Liberty Steel said it bid for the company’s steel unit.