European Shares at All-Time High and Mining at Forefront

European stocks hit record highs Thursday, April 8, thanks to optimism about a stimulus-driven global economic recovery after the US Federal Reserve pledged to keep monetary policy soft.

The European Stoxx600 index rose 0.5%, to consolidate the gains it made this week when it wiped out all the losses driven by the Coronavirus pandemic.

Mining, auto industry and retail stocks led the gains on the index, rising by between 0.7% and 1% in early trade.

The minutes of the US Central Bank’s most recent policy meeting revealed on Wednesday that Fed officials are still concerned about the existing risks of the Coronavirus pandemic and are committed to strengthening the economy until a more robust recovery occurs.

Investors generally ignored the announcement by several European countries of restrictions on the use of the AstraZeneca vaccine against Covid-19 for people of younger ages, after its link to the occurrence of rare blood clots was revealed. British pharmaceutical makers rose 0.7%.