STOXX 600 up 0.5, trading at its highest since Dec. 13
Richemont surges after Q3 sales beat, lifts other luxury stocks
Chipmakers rise after TSMC39;s record quarterly profit
Germany39;s DAX briefly hit record highs, up 0.1

Jan 16 Reuters European shares advanced on Thursday, as heavyweight luxury stocks got a boost following Richemont39;s upbeat earnings update and semiconductor firms gained after Taiwan Semiconductor Manufacturing Co TSMC reported a record quarterly profit.

The panEuropean STOXX 600 had risen 0.5 as of 0910 GMT, to its highest since midDecember, while Germany39;s DAX rose 0.1, briefly hitting an alltime high.

Richemont surged 16.7 after the owner of the Cartier jewellery brand beat market expectations for quarterly sales, a positive sign for the highend luxury sector over the allimportant holiday season.

Deutsche Bank said the results will add to the debate that the more premium luxury brands are likely to outperform, the luxury slowdown is more cyclical than structural at least at the highend and that there is enough growth in the rest of the world to offset China weakness.

Rival LVMH jumped 7.8, while a gauge of European luxury firms advanced 6.8, set for its best day since 2022.

The tech index, which houses the bulk of European chipmakers, advanced 1.4 after TSMC, the world39;s largest contract chipmaker, logged a record quarterly profit and said it expects hefty firstquarter revenue growth.

The STOXX39;s gain on the day added to a jump on…