Swiss index, FTSE hit records as European stocks jump
Reuters
Published Jan 05, 2018 03:44AM ET
Swiss index, FTSE hit records as European stocks jump
LONDON (Reuters) - European shares powered higher on Friday, with the British and Swiss benchmarks hitting records, propelled by optimism for a strengthening regional economy and gains in U.S. equities overnight.
The pan-European STOXX 600 (STOXX) index was up 0.4 percent, holding at a two-month high, while Euro zone blue chips (STOXX50E) advanced 0.5 percent, building on strong gains in the previous session.
The first trading week of the new year was shaping up to be the best for Euro zone stocks (STOXXE) since last May, as the index has shrugged off a strengthening of the single currency that can dampen export earnings.
U.S. jobs numbers on Thursday showed U.S. private employers added more jobs than expected in December, propelling the Dow Jones Industrial Average (DJI) past the 25,000-mark for the first time.
Euro zone stocks were set for a weekly gain of 2.5 percent.
Markets outside of the Euro zone saw several record levels broken. Switzerland's blue chip SMI (SSMI) index rose 0.4 percent to a record high, while Britain's FTSE 100 (FTSE) jumped to another record.
UK big caps were supported by a muted pound as big international health stocks and consumer staples added the most to gains.
European autos (SXAP) was the top-gaining sector, up 1 percent, while almost every other sector traded in positive territory.
Among single stocks, Dialog Semiconductor (DE:DLGS) saw its shares tumble 6.6 percent to the bottom of the STOXX after top customer Apple (O:AAPL) said that its products were hit by a chip flaw.
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Written By: Reuters
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