LVMH jumps on Q4 sales growth
Lonza soars after 2023 results beat
STOXX 600 eyeing best week in over two months

Jan 26 Reuters European equities gained on Friday, boosted by upbeat quarterly updates from luxury group LVMH and spirits maker Remy Cointreau, while investors assessed prospects for an interest rate cut this year after the European Central Bank left rates unchanged.

By 0951 GMT, the panEuropean STOXX 600 index was up 0.9, hitting its highest level in two years.

LVMH jumped 9.8 after the world39;s largest luxury group posted a 10 rise in fourthquarter sales, driven by resilient demand, including from Chinese buyers.

The stock helped the personal and household goods index add 3.8 and lead sectoral advances.

A gauge of the top ten European luxury stocks gained 3.8, tracking its best day since November 2022.

The shares are up in relief because there39;s been so much negative commentary … referring to a bit of a slowdown, said Russ Mould, investment director at AJ Bell.

One of the core components of luxury goods stocks is the plutocratic customer base, that will be relatively insensitive to what goes on in the wider economy.

Remy Cointreau was also among the top performers, up 13.1 after the French spirits maker posted a slightly smallerthanexpected decline in thirdquarter sales.

France39;s CAC 40 index, which includes both stocks, rallied to gain 1.9 and outperformed other regional bourses.

Heavyweight healthcare stocks added 1.5, lifted by a 13.6…