European stocks hit record high on commodities

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Strength in commodity-linked sectors helped European equities climb to a record high at the close on Monday, though gains were held back by some weak corporate balance sheets and a lack of big signal to the market.

The FTSEurofirst 300 index fell 0.01% to 1,870 points while the pan-European STOXX 600 index gained 0.04% to 484 points, with basic resources and energy stocks leading the gains.

Oil and base metals prices also advanced on the prospect of increased demand after the United States approved an infrastructure project.

The STOXX 600 hit new highs every day last week on a series of strong swings and growing optimism about the global economic recovery.

Among individual stocks, French conglomerate Bouygues lost 5.8% after a €7.1 billion deal to buy Engie’s Equans technical services group.

  • In London, the Financial Times index retreated 0.05% to 7,300 points.
  • In Frankfurt, the DAX index fell 0.05% to 16,046 points.
  • In Paris, the CAC-40 index gained 0.10% to 7,047 points.
  • In Milan, the Ftse/Mib index had a devaluation of 0.31%, to 27,711 points.
  • In Madrid, the Ibex-35 index dropped by 0.65% to 9,070 points.
  • In Lisbon, the PSI20 index gained 0.34% to 5,663 points.

Reference: CNN Brasil

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