(Reuters) – European stocks rose on Friday, with hitting a record high on the back of better-than-expected economic data and encouraging earnings updates from chipmakers.
The pan-European index rose 0.7% by 0810 GMT and was on track for a more than 3% weekly gain, with hopes of more U.S. stimulus boosting economically sensitive sectors such as miners, oil & gas and banks.
Germany’s DAX index jumped 0.8% after data showed both industrial output and exports rose more than expected in November.
Meanwhile, chipmakers Infineon (OTC:), AMS and ASM International (OTC:) gained between 2.2% and 4.7% after global peers Micron Technology Inc (NASDAQ:) and Samsung Electronics (OTC:) Co Ltd provided strong earnings reports.
Franco-Italian chipmaker STMicroelectronics rose 4% after its early revenue estimate for the fourth-quarter came in above the previous range.
Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Need Your Help Today. Your $1 can change life.