Richemont delivered stunning holiday quarter performance with luxury jewelry sales up 14%, while Signet reported holiday accessible/mass-market jewelry sales down 2%.

Richemont reported better-than-expected quarterly sales, triggering a rally in luxury stocks, after its core jewelry division bucked a downturn in demand for high-end goods.

European luxury shares jumped Thursday after Cartier parent Richemont reported record quarterly sales, lifting investor hopes that the high-end sector is finally recovering from a slump caused by weak Chinese demand.

Richemont , the owner of Cartier jewellery, on Thursday fuelled hopes of a revival for the beaten down luxury goods industry, with end-of-year sales that exceeded expectations, sending shares higher across the sector.

NEW YORK/LONDON >> MSCI’s global equities gauge rose today, while Wall Street stocks dipped and U.S. Treasury yields fell after a mixed bag of economic data and Federal Reserve officials’ comments suggested more interest rate cuts on the horizon.

In equities, the Dow Jones Industrial Average fell 68.42 points, or 0.16%, to 43,153.13, the S&P 500 fell 12.57 points, or 0.21%, to 5,937.34 and the Nasdaq Composite fell 172.94 points, or 0.89%, to 19,338.29. In contrast, MSCI's gauge of stocks across the globe rose 1.31 points, or 0.15%, to 848.61.