LONDON, June 2 Britain's FTSE hit a fresh record
high on Friday, surfing on a wave of positive economic data
lifting stocks across Europe, with cyclicals leading the way.
The pan-European STOXX 600 was up 0.6 percent by
0720 GMT, while Euro zone stocks gained 0.9 percent
and euro zone blue chips jumped 1 percent, set for
their first weekly gain in a month.
Gains of 0.5 percent pushed Britain's FTSE up into
positive territory for the week, setting a fresh record high of
7,585.4 points. Positive employment and manufacturing data from
the U.S. pushed world stocks to a record high earlier on Friday.
Banks led gains in Europe while auto stocks
followed hot on their heels, helping push the carmaker-heavy DAX
up 0.8 percent.
French pharmaceuticals firm Ipsen jumped 9.8
percent at the open after the company said it would buyback 1.67
billion euros worth of its shares.
Banco Popular rose 4 percent, recovering some ground after
Thursday's sharp sell-off on jitters around the bank's
Retailer B&M was among top fallers, down 3.3
percent after private equity firms CD&R and SSA sold a 12.5
percent stake in the firm.
Linde rose 1.4 percent, among top DAX gainers,
after sealing a $73 billion merger deal with U.S. peer Praxair
to create an industrial gases leader.
Shares in Daimler, BMW and Volkswagen rose despite a decline
in monthly U.S. car sales.
U.S. President Trump delivered a blow to the renewable
energy agenda, saying he would withdraw the United States from
the landmark 2015 global agreement to fight climate change,
though European and Asian leaders reaffirmed their commitment to
Shares in Danish wind energy provider Vestas fell
1.4 percent, on track for their worst weekly losses in six
Europe's energy stock index, which includes oil and
gas as well as renewable companies, was the only sector in the
red, down 0.2 percent.
(Reporting by Helen Reid, Editing by Vikram Subhedar)