English
European stocks post their longest winning streak since 2006
European shares climbed to new record highs on Friday, posting a fourth consecutive week of gains, amid optimism about a strong earnings season and a steady recovery from the economic slowdown caused by the pandemic.
The pan-European Stoxx 600 index rose 0.2 percent to an unprecedented level of 476.16 for the tenth consecutive session. The index has posted its longest winning streak since December 2006.
While the pace of gains slowed due to weak trading in the summer, the index recorded a nine-day streak of consecutive gains seven times in the past fifteen years.
The German DAX rose above 16,000 points for the first time ever, while the French CAC 40 touched its highest level in nearly 21 years.
European and US stocks hit record highs this week, buoyed by rising earnings expectations and improving economic data, even as Asian stocks slumped on concerns about Chinese regulatory measures and the fast-spreading delta strain of the coronavirus.
