🥂CAC40: Croisière sur la Seine, avec une bouteille de Champagne

Luxury shares boost Europe's STOXX 600, French stock index CAC40 hit new record high.

European shares climbed on Thursday on a boost from luxury stocks after MOH posted upbeat first-quarter sales, while hopes of a pause in the Federal Reserve's rate hikes after signs of cooling U.S. inflation also aided sentiment.

👉 The pan-European STOXX 600 rose 0.4%, while the blue-chip index (STOXX50) gained 0.5%, inching closer to its highest level in 22 years hit on Wednesday.
👉 LVMH climbed 5.7%, closing at a record high after the world's largest luxury company reported a 17% jump in first-quarter sales that breezed past estimates as business in China rebounded sharply.
👉 European stocks have more than recouped last month's declines with gains of 1.4% so far, outperforming the benchmark SPX index on Wall Street, amid ebbing fears of a steep recession in the euro zone.
👉 European stocks are seen as undervalued compared to their U.S. peers. With the economic outlook for the U.S. deteriorating, investors appear happier now to take advantage of this pricing skew and buy relatively cheaper European shares. The risk factor that had been associated with holding European shares is diminishing and this is allowing investment decisions to be made based more on fair value plays.

Technical pictures in France Stock Index CAC40 indicates the breakout of massive 20-year old Reversed Head & Shoulder structure, so it seems a lot of gain here is yet to come.🥂


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