21.10.202516:14:46UTC+00European Stocks Inch Higher to New Record

European stocks saw a modest uptick on Tuesday, continuing their record-setting trajectory, bolstered by gains in the defense, aerospace, and luxury sectors. The Eurozone's STOXX 50 rose by 0.2%, reaching 5,691 points, while the broader pan-European STOXX 600 climbed 0.3% to 574 points. Hermes led the charge with a 1.5% increase, contributing to an impressive 11% surge over the past five sessions, driven by optimism about enhanced margins for luxury brands. In parallel, Ferrari and LVMH both experienced growth exceeding 0.7%. Meanwhile, Airbus and Safran each gained nearly 2%, reflecting the global aviation sector's uptrend following GE Aerospace's robust third-quarter performance. Similarly, Stellantis surged by almost 5% due to strong sales figures reported for September. Conversely, Novo Nordisk fell by over 1% after Chairman Lund announced his resignation amid internal controversies. L'Oreal showed slight gains ahead of its post-market result announcements.