European Stocks Achieve Longest Weekly Gains Streak in Three Years

European stocks maintained its rally on Friday to new record highs, finishing the week with another positive performance on the back of strong economic data and recovery signs.

The STOXX Europe 600 index rose by 0.9% to settle at a new all-time high of 442.20 points.

The auto sector, which recently saw an upward performance on positive expectations by VolksWagen, led the gains, supported by strong results by Daimler, adding 2.1%.

On a weekly basis, the pan-European index rose by 1.1%, maintaining a string of gains for the seventh consecutive week in the longest rising streak the index saw since May 2018.

The French CAC40 index finished today higher by 0.85%, while the German DAX surged by 1.34%. Meanwhile, the UK’s FTSE100 closed higher by 0.52%.