Soon we’ll not be supporting this browser anymore.
This means our website may not look and work as you would expect. Read more about browsers and how to update them here.

Skip to main content
  • Register
  • Help
  • Contact us

Europe close: Stocks end at record highs going into US Fed meeting

Fri 11 June 2021 17:19 | A A A

No recommendation

No news or research item is a personal recommendation to deal. Hargreaves Lansdown may not share ShareCast's (powered by Digital Look) views.

Market latest

FTSE 100 | FTSE 250 | Paris CAC 40 | Dow Jones | NASDAQ

7032.30 | Negative 46.12 (0.65%)
Graph

Prices delayed by at least 15 minutes

(Sharecast News) - European shares hit record highs on Friday buoyed by the European Central Bank's decision the day before to increase its pace of asset purchases despite rising inflation.

Investor sentiment was also helped by data showing a modest retreat in inflation expectations in the States, although traders on Wall Street were already looking out to the Federal Reserve's interest rate decision scheduled for the following week.

As Chris Beauchamp, chief market analyst at IG said: "The week draws to a close with stronger performances for European markets while Wall Street remains subdued.

"US eyes are no doubt turning already to next week's FOMC meeting, since the first sessions of next week continue, by and large, the quiet theme of the past two weeks."

The pan-European Stoxx 600 index was up 0.65% to 457.51 points, while Britain's FTSE 100 was boosted by a rise in mining shares and GDP data, for an identical percentage point gain to 7,134.06.

In equity news, shares in French reinsurer Scor jumped 8.43% as major shareholder Covea agreed to an orderly exit from the company after a settlement over a frustrated takeover attempt.

Auto Trader edged up after RBC Capital Markets lifted its price target to 610.0p from 560.0p following the company's "strong" set of results on Thursday.

    Daily market update emails

    • FTSE 100 riser and faller updates
    • Breaking market news, plus the latest share research, tips and broker comments

    Register now for free market updates

    The value of investments can go down in value as well as up, so you could get back less than you invest. It is therefore important that you understand the risks and commitments. This website is not personal advice based on your circumstances. So you can make informed decisions for yourself we aim to provide you with the best information, best service and best prices. If you are unsure about the suitability of an investment please contact us for advice.