(Reuters) - European luxury shares soared on Thursday as Cartier owner Richemont's third-quarter sales beat revived optimism for the battered sector.

Richemont shares jumped around 15% to their highest since May 2023 and were set for their biggest intraday rise since October 2008.

At 0831 GMT shares in French luxury companies LVMH and Gucci owner Kering were both up around 7%. Italy's Moncler was up around 7.7% and Burberry rose some 6%.

A broader index of European luxury stocks soared over 7%, set for its largest one-day rally since its inception in May 2022.

(Reporting by Linda Pasquini and Samuel Indyk; Editing by Amanda Cooper)