European stock markets continue upbeat start to the year

European stock markets continue upbeat start to the year via IrishTimesBiz

London

Supermarket chains Tesco and Sainsbury’s rose between 2 per cent and 4 per cent after data showed UK grocery sales rose 9.4 per cent in the four weeks to December 25th, with the increase driven by price inflation rather than higher levels of purchasing.The pan-European STOXX 600 closed 1.4 per cent higher, while France’s CAC 40 jumped 2.3 per cent. Both indexes hovered at three-week highs.

China-exposed luxury companies LVMH and Richemont rose 5 per cent and 2.4 per cent respectively, lifting the index.

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