Europe gains led by luxury stocks and signs of political stabilization in France

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London (UKX [https://seekingalpha.com/symbol/UKX]) -0.04% at 9,447.

Germany (DAX:IND [https://seekingalpha.com/symbol/DAX:IND]) +0.18% to 24,279, hovering near its lowest level since the start of the month.

France (CAC:IND [https://seekingalpha.com/symbol/CAC:IND]) +2.44% to 8,113, supported by a strong rally in luxury stocks. French assets led the rally after Prime Minister Sébastien Lecornu announced plans to suspend a controversial pension reform until after the 2027 election, one of President Emmanuel Macron’s key policy initiatives. France inflation rises to 1.2% in September, as expected [https://seekingalpha.com/news/4504142-france-inflation-rises-to-12-in-september-as-expected#source=url_first_level%3Amarket-news%7Csection%3Amarket-pulse%7Csection_asset%3Anews_title].

In other parts of Europe, Slovakia’s annual inflation rate edged up to 4.3% in September.

Spain's inflation rises more than estimated in September [https://seekingalpha.com/news/4504146-spains-inflation-rises-more-than-estimated-in-september#source=url_first_level%3Amarket-news%7Csection%3Amarket-pulse%7Csection_asset%3Anews_title].

Sweden’s annual inflation rate eased to 0.9% in September.

Norway's trade surplus narrowed to NOK 36.9 billion in September.

Industrial production in Romania fell by 1.1% Y/Y in August.

The pan-European Stoxx 600 [https://seekingalpha.com/symbol/STOXX] (STOXX) [https://seekingalpha.com/symbol/STOXX] turned 0.75% higher to 568.8. The luxury sector was among the top performers, boosted by a 12% surge in LVMH (OTCPK:LVMHF [https://seekingalpha.com/symbol/LVMHF]) (OTCPK:LVMUY [https://seekingalpha.com/symbol/LVMUY]) (LV:CA [https://seekingalpha.com/symbol/LV:CA]) shares after the company’s revenues exceeded forecasts. Other luxury names also advanced strongly, including Kering (OTCPK:PPRUF [https://seekingalpha.com/symbol/PPRUF]) (OTCPK:PPRUY [https://seekingalpha.com/symbol/PPRUY]), Burberry (OTCPK:BURBY [https://seekingalpha.com/symbol/BURBY]) (OTCPK:BBRYF [https://seekingalpha.com/symbol/BBRYF]), Hermès (OTCPK:HESAY [https://seekingalpha.com/symbol/HESAY]) (OTCPK:HESAF [https://seekingalpha.com/symbol/HESAF]), Moncler (OTCPK:MONRF [https://seekingalpha.com/symbol/MONRF]) (OTCPK:MONRY [https://seekingalpha.com/symbol/MONRY]), and Richemont (OTC:CHRHF [https://seekingalpha.com/symbol/CHRHF]) (OTCPK:CFRUY [https://seekingalpha.com/symbol/CFRUY]).

ASML Holding added 2.6% after posting better-than-expected earnings [https://seekingalpha.com/news/4504127-asml-reports-mixed-q3-results-initiates-q4-and-reaffirms-fy-outlook] despite slightly lower revenues.

Meanwhile, the euro advanced after France proposed suspending major pension reforms, while the yen strengthened as traders unwound the “Takaichi trade.”

In the bond market, the yield on the US 10-year Treasury was down less than 1 basis point to 4.02%.

Germany's 10-year yield was down 2 basis points to 2.59%.

UK's 10-year yield was down 4 basis points to 4.55%.

CURRENCIES: (EUR:USD [https://seekingalpha.com/symbol/EUR:USD]) (GBP:USD [https://seekingalpha.com/symbol/GBP:USD]) (CHF:USD [https://seekingalpha.com/symbol/CHF:USD])

ETFS: (NYSEARCA:EWG [https://seekingalpha.com/symbol/EWG]), (NYSE:GF [https://seekingalpha.com/symbol/GF]), (NYSEARCA:EWI [https://seekingalpha.com/symbol/EWI]), (NYSEARCA:EWQ [https://seekingalpha.com/symbol/EWQ]), (NASDAQ:FGM [https://seekingalpha.com/symbol/FGM]), (NASDAQ:DAX [https://seekingalpha.com/symbol/DAX]), (NYSEARCA:FLGR [https://seekingalpha.com/symbol/FLGR]), (NYSEARCA:FXB [https://seekingalpha.com/symbol/FXB]), (NYSEARCA:EWU [https://seekingalpha.com/symbol/EWU]), (NASDAQ:FKU [https://seekingalpha.com/symbol/FKU]), (BATS:EWUS [https://seekingalpha.com/symbol/EWUS]), (NYSEARCA:FLGB [https://seekingalpha.com/symbol/FLGB]), (NYSEARCA:GREK [https://seekingalpha.com/symbol/GREK])

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