European stocks rose today, Friday, with the Pan-European STOXX 600 index increasing by 0.4%, aiming for slight positive results. Shares of luxury goods group Richemont jumped by 5.5% to a record high, supported by better-than-expected results, as strong demand from Chinese consumers for jewelry and watches boosted net profit and sales.
Data showed that consumer prices in Spain rose by 4.1% in the twelve months up to April, while inflation in France increased by 6.9%. Both inflation rates were in line with expert estimates.
Shares of Swedish real estate company SPP increased by 2.9%, while JM's shares rose by 2.6%. Shares of French bank Société Générale rose by 0.3% following quarterly revenues that exceeded expectations.
