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European stocks hover near record high, UK outperforms

Published 04/07/2021, 03:16 PM
Updated 04/07/2021, 03:20 PM
© Reuters.

(For a Reuters live blog on U.S., UK and European stock
markets, click LIVE/ or type LIVE/ in a news window)
April 7 (Reuters) - European stocks hovered near record
highs on Wednesday as investors awaited data on services sector
activity for the region, while optimism over speedy vaccination
drives and a weaker pound helped UK equities outperform.
The pan-European STOXX 600 index .STOXX fell 0.2% by 0704
GMT after closing at an all-time high of 435.26 points on
Tuesday. The German DAX .GDAXI and France's CAC 40 .FCHI
were flat.
UK's exporter-heavy FTSE 100 .FTSE gained 0.3% as a weaker
pound lifted the dollar earners, while the domestically
focussed midcap index .FTMC inched towards a record high as
Britain began the roll-out of Moderna's COVID-19 vaccine. .L
Recent market debutant Deliveroo Holdings ROO.L rose 2.5%
to 288 pence in its first day of unrestricted trading where
retail traders take part. It has shed almost 28% since last week
when it priced its initial public offering at 390 pence.
Final readings of UK and euro zone March services sector
activity are due later in the day, with fresh lockdowns in
several countries likely to weigh on the recovery.

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