STOXX 600 up 1.2
HM down after it can39;t meet reach its FY earnings margin goal
Swiss National Bank cuts rate by 25 bps

Sept 26 Reuters European shares jumped on Thursday, buoyed by optimism over fresh stimulus measures from China, while investors awaited remarks from the European Central Bank president.

The panEuropean STOXX 600 index jumped 1.2 to 525.44, just shy of its record high of 526.66.

Chinese leaders pledged to deploy necessary fiscal spending to meet this year39;s economic growth target of roughly 5.

Chinese stocks soared, with the CSI300 bluechip index and Hong Kong39;s Hang Seng Index both surging over 4.

There39;s optimism that China could offer more stimulus in future, and in that case we could see this rally sustain, said Fiona Cincotta, senior market analyst at City Index.

Luxury stocks lifted the benchmark, with LVMH, Hermes, Dior, Kering and Burberry rising between 5 and 7.

European luxury firms rely heavily on Chinese consumer spending.

China is also reportedly considering injecting up to 1 trillion yuan 142.39 billion of capital into its top banks to increase their capacity in a bid to support its struggling economy.

Europe39;s technology sector also added to the gains, rising 3.1 as shares of European semiconductor companies jumped after Micron Technology forecast higherthanexpected revenue on AI demand.

A nearly 4 rise in the basic resources sector also supported, as copper prices rose.

Bucking the trend, oil stocks were the…