Luca de Meo’s short tenure in Kering ’s C-suite — he’s only been chief executive officer since Sept. 15 — has already brought the ailing luxury giant something it’s needed in the stock market.

Momentum.

Shares of Kering rose 8.7 percent to 344.95 euros in Paris on Thursday as investors took what were seen as glimmers of hope in third-quarter results and ran.

The run-up left Kering with market capital of more than 42 billion euros. It was the best stock performance among the 98 global fashion, luxury and retail stocks tracked by WWD.

Oliver Chen, a stock analyst at TD Securities, is fingers-crossed that the “encouraging glimmers continue.”

Kering’s largest brand, Gucci , saw sales fall 14 percent in the third quarter — which was better than the 15 to 16 percent drop analysts fore

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