European stocks rose today after the strong results of the Richemont Group boosted the performance of the luxury goods sector.

Investors are also assessing inflation data in France and Spain in search of clues about the European Central Bank’s plans to raise interest rates.

Shares of luxury goods group Richemont climbed 7.5% after its full-year results to the end of March showed operating profit rose to an all-time high of 5.031 billion euros ($5.491 billion).

Sales at the Swiss firm also hit a new record of 19.9 billion euros, ahead of estimates.

Source: Bahrain News Agency