European stock market ends 6th week of earnings at record high

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European stocks closed the week following gains at a new high this Friday (12), with strong results from Richemont, owner of Cartier, ending a robust season of corporate balance sheets.

The FTSEurofirst 300 index rose 0.29% to 1,884 points, while the pan-European STOXX 600 index gained 0.3% to a new high of 487 points.

The STOXX 600 ended the week with gains of 0.7%. The index closed at record highs in four of the five sessions this week.

Richemont jumped 10.9% to be the best-performing stock for the day, after the company beat six-month earnings estimates and said it is seeking investors for its Yoox business.

French blue-chips also finished the week at record highs, with automaker Renault up 4.4% after Morgan Stanley raised its share.

The STOXX 600 posted several record highs in November, boosted by “dovish” messages from central banks, positive corporate balance sheets and signs of post-pandemic economic recovery.

  • In London, the Financial Times index retreated 0.49%, to 7,347 points.
  • In Frankfurt, the DAX index rose 0.07% to 16,094 points.
  • In Paris, the CAC-40 index gained 0.45% at 7,091 points.
  • In Milan, the Ftse/Mib index appreciated by 0.36%, to 27,732 points.
  • In Madrid, the Ibex-35 index dropped 0.13% to 9,080 points.
  • In Lisbon, the PSI20 index grew 0.64%, to 5,744 points.

Reference: CNN Brasil

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