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Markets

European stocks extend gains for sixth day

  • The pan-European STOXX 600 index rose 0.1% by 0715 GMT and was on course for a fourth straight weekly gain.
11 Jun 2021

European stocks extended gains for a sixth session on Friday, buoyed by hopes that major central banks will stay accommodative despite signs of rising inflation, while gains in miners and travel firms supported regional indexes.

The pan-European STOXX 600 index rose 0.1% by 0715 GMT and was on course for a fourth straight weekly gain.

Miners jumped 1.0%, boosting UK's commodity-heavy FTSE 100 by 0.3%, while travel and leisure stocks bounced from the previous session's drop.

Dutch tech investor Prosus rose 0.7% as it said it expected full-year earnings per share to have nearly doubled in the past year.

French reinsurer Scor jumped 5.5% after Covea, the top shareholder of the company, agreed to an orderly exit from the company following a settlement over a frustrated takeover attempt and ensuing legal disputes.