European Shares Hovering Near a Record High

European stocks hovered near record highs on Wednesday, April 7, as investors awaited data on service sector activity in the region, while British stocks outperformed the rest of the market, supported by optimism about rapid vaccination campaigns and a weak sterling pound.

The pan-European STOXX 600 index fell 0.2% after closing at an all-time high of 435.26 points on Tuesday. The German DAX and the French CAC 40 were stabilized.

The British FTSE 100 index, which is full of export companies, gained 0.3%, as the weakness of the pound sterling led to a rise in companies that earn profits in dollars, while an index focused on medium-capitalized local companies rose at a time when Britain began distributing the Moderna vaccine against Covid-19.