Europe: Earnings, metal rally spur record high for stocks

[BENGALURU] European stocks hit a record high on Thursday as a rally in commodity prices lifted miners, while some positive earnings reports offset worries about the pace of Covid-19 vaccination in the continent.

The pan-European Stoxx 600 index inched up 0.3 per cent in its third session of gains, with miners and travel stocks leading the rise.

UK's commodity-heavy FTSE 100 outperformed as a surge in metals prices lifted shares of companies such as Rio Tinto, Anglo American and BHP.

Swiss engineering company ABB rose 3.3 per cent after raising its full-year sales outlook.

French advertising group Publicis gained 2.6 per cent as it returned to organic growth for the first time since before the Covid-19 pandemic.

Britain's food delivery company Deliveroo slipped 1.5 per cent even as its quarterly orders more than doubled in its first trading update since its underwhelming market debut last month.

REUTERS

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