On Friday, a basket of European shares had rounded off the session at record closing highs and marked up strong weekly percentage gains, as a flurry of positive economic data alongside upbeat earnings’ reports had rekindled hopes of an earlier-than-anticipated recoup from pandemic associated headwinds. In point of fact, in the day’s large gains in a raft of European stock indices, which had been well in alignment with major global equity indices including the Wall Street, came forth amid expectations that a disappointing job growth data in the United States in April would reaffirm US Federal Reserve’s stance to maintain its monthly bond repurchase program while clinging on to a near-zero interest rate until solid signs of labour market recovery alongside an inflation surge above its targeted 2.0 per cent.
European shares hit record closing high on earnings’ boost, strong German data
Citing statistics, in the day’s European market closure, London’s blue-chip FTSE 100 added 0.76 per cent to 7,129.71 and French CAC 40 gained 0.45 per cent to 6,386.51, while Frankfurt’s DAX jumped 1.34 per cent to an all-time closing high of 15,399.65.
Elsewhere in the Europe, the regional pan-European STOXX 600 rose 0.80 per cent to hit a record closing trough of 444.57, gaining as much as 1.61 per cent in the week, while Italy’s FTSE MIB feathered 0.48 per cent to 24,612.04 and Madrid’s benchmark IBEX 35 spiked 0.86 per cent higher to 9,059.20.
On the week, London’s FTSE 100 gained 2.39 per cent, French CAC 40 added 1.43 per cent, and Frankfurt’s DAX added 1.37 per cent in weekly gains, while Milan’s FTSE MIB scored a weekly percentage gain of 1.09 and Madrid’s IBEX 35 jumped 2.6 per cent.