The European STOXX 600 index closed 1.3 percent higher at 525.61 points, which is the highest closing level ever, and 0.2 percent less than the highest record level recorded by the index during the day.
Senior government officials pledged Chinathe largest importer of crude oil in the world, on Thursday implemented the “necessary fiscal spending” plan to achieve the economic growth goal this year of about five percent, and they acknowledged the emergence of new problems and raised expectations in the market of the arrival of new stimulus measures other than the measures that were announced this week.
Shares of luxury goods companies exposed to China, such as LVMH and Hermes, rose about nine percent each. A measure of the 10 largest luxury goods companies in Europe rose 6.5 percent.
Mining stocks rose 4.3 percent due to the rise in base metal prices.
Technology sector shares rose Europe Three percent, with semiconductor stocks jumping after Micron Technology expected greater-than-expected revenues due to demand for artificial intelligence.
In contrast, energy stocks fell three percent as crude oil prices fell more than two percent.
