European Stocks Close Higher at New Record

European stocks surged on Friday to close to a new record high, with markets digesting concerns about the surge in U.S. inflation as it is expected to be temporary.

The STOXX Europe 600 index gained 0.68% to finish at 457.64 points, maintaining its rising trend for the sixth consecutive session.

On a weekly basis, the pan-European index added 1.1%.

Meanwhile, the French CAC40 surged by 0.83%, the German DAX rose by 0.78%, and the British FTSE100 index closed higher by 0.65%.