Europe stocks extend record, poised for best week since January
By Bloomberg
European stocks climbed, extending an all- time high and heading for the biggest weekly gain since January.
The Stoxx Europe 600 Index advanced 0.4 to 410.78 at 8:12 a.m. in London. It surpassed a record reached in 2000 on Thursday after data showed German industrial production beat forecasts, fueling optimism the euro-area economy is improving.
The benchmark gauge has climbed 3.2 percent in a holiday- shortened week. It has rallied 20 percent in 2015, entering the seventh year of a bull run, as the European Central Bank started a quantitative-easing program.
Among stocks active on corporate news, Carrefour SA gained 3.1 percent after France’s largest retailer reported first- quarter sales that beat the median analyst estimate, as growth at home and in Brazil offset weakness in China.
Shire Plc rallied 4.5 percent after U.S. regulators granted a priority review for Lifitegrast, its experimental treatment for dry-eye disease. The review is an encouraging sign for chances of a timely approval for the drug, JPMorgan Chase & Co. wrote in a note.
Deutsche Bank AG rose 1 percent after people familiar with the matter said the lender is close to resolving an interest- rate manipulation probe by U.S. and U.K. authorities. It may pay penalties of more than $1.5 billion to settle investigations, one of them said.
Hays Plc tumbled 6.2 percent after saying currency swings may reduce full-year operating profit by about 11 million pounds ($16 million).
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