

Market Analysis
European shares hit a record high on Friday, boosted by a sustained rally in China-exposed stocks following news of significant economic stimulus from Beijing. Gains in luxury stocks, including Moncler, also helped support the index.
The pan-European STOXX 600 index rose 0.2% to reach an all-time high of 526.70 points as of 0716 GMT. The index is on track to post its best weekly performance in over a month, provided the gains hold.
Luxury stocks with strong ties to China, such as LVMH, Hermes, Kering (EPA: PRTP), Hugo Boss, and Burberry, climbed between 3% and 4%.
Chinese stocks are on course for their best week since 2008.
Earlier in the day, China's central bank reduced the borrowing cost on its seven-day reverse repurchase agreements, marking the largest stimulus package introduced since the pandemic.
Moncler's shares surged 11.8% after CEO Ruffini struck a deal with LVMH. This agreement will see LVMH and Ruffini collaborate to increase investment in the Italian luxury brand.
The personal & household goods sector led the market, jumping 1.6%.
Meanwhile, French consumer prices increased at a slower-than-expected rate in September, according to CPI data. The CAC 40 index was up 0.3%.
Spain's IBEX 35 traded flat as data indicated inflation in the country slowed to 1.7%.
Investors are awaiting key data releases, including euro zone consumer confidence figures at 0900 GMT and German employment data at 0755 GMT. European Central Bank Chief Economist Philip Lane is scheduled to speak on fiscal policy at 0815 GMT.
Paraphrasing text from "Reuters" all rights reserved by the original author.