The Globe and Mail reports in its Thursday, Oct. 16, edition that LVMH shares soared on Wednesday, marking their best day in over 20 years, boosted by improved demand in China and a broader rally that added nearly $80-billion (U.S.) to European luxury stocks' valuations. A Reuters dispatch to The Globe reports that LVMH soared as much as 14 per cent and was on track for its biggest daily gain since 2001, after it beat forecasts, reporting its first quarterly sales rise this year a day earlier. DWS portfolio manager Stefan Bauknecht said the sales figures "indeed surprised investors positively and are likely to keep the sector's share price momentum alive." Analysts noted that while LVMH's early signs are optimistic for recovery, many warned it is premature to discuss a broader industry rebound. Luxury sector shares have gained traction recently, fuelled by expected management and creative overhauls. Sales in mainland China turned positive, aided by new store experiences like Louis Vuitton's ship-shaped boutique in Shanghai, although sales from travelling Chinese shoppers remained negative year-on-year. Chinese appetite for luxury goods has been dampened by a property crisis.