STOCKS NEWS EUROPE-LVMH sales lift European luxury stocks

Shares in luxury goods makers surge as Louis Vuitton owner LVMH (TLO: LVMH.TI - news) eases worries over the potential impact from turmoil in emerging markets by posting better-than-expected quarterly sales at a key division.

"(LVMH's) trading statement highlights further acceleration in Fashion & Leather/Vuitton, a very positive outcome in a context of weak trends as seen or expected at soft luxury peers - Prada (HKSE: 1913-OL.HK - news) , Gucci brand, Hugo Boss (Other OTC: BOSSY - news) , Tod's. This should be sufficient to support the shares near-term," Citi analysts write in a note.

Shares in LVMH are up 3.8 percent, Gucci owner Kering (Other OTC: PPRUF - news) is up 3.5 percent, Christian Dior (Paris: FR0000130403 - news) rises 3.1 percent while Richemont progresses by 2 percent.

Luxury stocks were seen as safe havens during the heat of the euro zone debt crisis due to their exposure to emerging markets, which at that time had economies in better shape than the euro zone.

However, those stocks then fell out of favour in late 2013, as doubts emerged about the pace of growth in emerging countries such as China.

Reuters Messaging: blaise.robinson.thomsonreuters.com@reuters.net