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The STOXX 600 rose 0.7% by 0813 GMT, with miners jumping 3.2%, ahead of data which will likely show the smallest U.S. job additions in nearly two years in October and a small increase in the unemployment rate.
Luxury giants, including LVMH, Kering (EPA:PRTP), Pernod Ricard (EPA:PERP) and Hermes International (OTC:HESAF), climbed between 0.9% and 2.5%. A report said Kering was in advanced discussions to buy fashion brand Tom Ford.
Both the sectors have major exposure to China, the world’s second-largest economy. Recent unsubstantiated social media posts stating China may relax its COVID rules in March has lifted investor optimism.
