0745 GMT - European luxury stocks jump after the U.S. and China agreed Monday to suspend most of the tariffs on each other's goods while further trade negotiations continue. LVMH, Gucci owner Kering, Cartier parent Richemont and Swatch all gained more than 5% shortly after trading started in Europe. Italy's Salvatore Ferragamo jumps 8.8% and Burberry is up 6.7%. Shares in other luxury socks such as Hermes, Moncler and Brunello Cucinelli also trade sharply higher, as news from the U.S.-China trade talks in Switzerland triggered broad-based gains across European stocks. (adria.calatayud@wsj.com)
(END) Dow Jones Newswires
May 12, 2025 03:45 ET (07:45 GMT)
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