European Stoxx600 Index Rises 0.4% to a New Record High

European markets rose to record levels as global stocks were affected by strong economic data out of the US this week.

The pan-European Stoxx600 index rose 0.4% in early trading, surpassing its record high on Thursday, and insurance stocks rose 1.2% to lead the gains as all sectors except the auto sector entered positive territory.

Global stocks appear to be heading for a seventh consecutive day of gains after US jobless claims fell for the first time in the US to a new pandemic low of 406,000, according to Labor Department data on Thursday, providing a positive indication of the health of the US recovery.