European stocks closed slightly higher on Tuesday, extending their record-breaking run, supported by further gains from defense, aerospace, and luxury brands. The Eurozone STOXX 50 gained 0.2% to 5,691, and the pan-European STOXX 600 gained 0.3% to 574. Hermès jumped 1.5%, extending its recent strong momentum to an 11% surge in the last five sessions amid expectations of improved margins for luxury brands.
Ferrari and LVMH also rose more than 0.7%. Meanwhile, Airbus and Safran each rose nearly 2%, tracking gains in the global aviation sector as GE Aerospace posted strong third-quarter results. Stellantis also rose nearly 5% on strong September sales. Meanwhile, Novo Nordisk fell more than 1% after Chairman Lund announced he would step down from the board amid internal disputes. L'Oreal edged higher ahead of its results announcement after the bell. (alg)
Source: Trading Economics
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