European Shares Are Heading For The Seventh Week of Gains

European shares rose on Friday, heading for a seventh consecutive week of gains, as a jump in commodity-related stocks, strong gains, and easing monetary policy boosted investor sentiment.

The European Stoxx 600 index rose 0.3 percent, retreating slightly from record highs, and mining and oil companies topped the gains, supported by the rise in commodity prices.

Looser monetary policy and a strong earnings season helped investors weather the impact of a fresh surge in COVID-19 infections and stronger-than-expected inflation data prompted the market to bet that major central banks would tighten monetary policies.

French luxury goods group Hermes rose 3.7 percent to a record high after talks about a possible inclusion on the Euro Stoxx 50 index during a review in December.