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Luxury goods companies lifted European stocks to multiyear highs on Friday after LVMH reported resilient fourth-quarter sales, boosting investors’ hopes that the sector can weather an economic downturn.
France’s luxury-heavy Cac 40 rose 2.3 per cent to a fresh all-time high, while London’s FTSE 100 added 1.4 per cent. The region-wide Stoxx Europe 600 rose 1.1 per cent to its highest level since January 2022.
LVMH shares rose 12.8 per cent after it said turnover…