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Europe's STOXX 600 hits record high on global recovery optimism

Published 04/06/2021, 03:13 PM
Updated 04/06/2021, 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 6 (Reuters) - Europe's benchmark equity index hit a
record high on Tuesday, recovering all of its pandemic-driven
losses as investors bet on a speedy global economic recovery,
spurred by bumper stimulus spending and COVID-19 vaccination
programmes.
European traders returned from a long weekend to push the
continent-wide STOXX 600 index .STOXX 0.9% higher at 436.16
points, surpassing its previous life-high of 433.90 points set
in February 2020. It has climbed more than 60% from
virus-induced lows hit last year.
The German DAX .GDAXI rose 1.0% to add to its recent
record-setting rally, France's CAC 40 .FCHI was up 0.8% and
UK's FTSE 100 .FTSE jumped 1.3%.
Wall Street's main indexes also notched all-time highs on
Monday after data pointed to a strong U.S. labour market
recovery and services sector activity, helping lift investors'
mood even as coronavirus cases spike globally. .N
Swiss bank Credit Suisse CSGN.S inched up 0.4% after sharp
losses last week as it announced an estimated loss of 4.4
billion Swiss francs ($4.7 billion) from its relationship with
Archegos Capital Management.

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