By Carla Mozee, MarketWatch
Euro slips below $1.06
LONDON (MarketWatch)--European stocks closed at a record high
Friday, aided as the euro moved lower, leaving the benchmark Stoxx
Europe 600 with its strongest week in more than two months.
The Stoxx Europe 600 climbed 0.9% to 412.93, as all sectors
gained ground. Friday's win was the sixth in a row for the index.
On Thursday, its jump of 1.1% left it with its best closing level
since March 2000.
Analysts have said capital resulting from the European Central
Bank's debt-purchase program has made its way into equities,
pulling them to lofty levels.
Read: Thank Draghi! European stocks close at best level ever
(http://www.marketwatch.com/story/thank-draghi-european-stocks-hit-highest-level-ever-2015-04-09).
The Stoxx 600 also ended the holiday-shortened week higher by
3.8%, its heftiest weekly gain since late January, according to
FactSet.
Germany's DAX 30 bounced to a new record closing high, rising
1.7% to 12,374.73. Shares in the key exporter's companies have
benefited from a pullback in the euro against the dollar. A weaker
euro can make products less expensive for overseas buyers.
The euro (EURUSD) was trading at $1.0601, and slipped below
$1.06 during the session. The euro was at $1.0660 late Thursday.
The shared currency hit a three-week low against the greenback
Thursday
(http://www.marketwatch.com/story/dollar-resilient-in-asia-with-fed-seen-on-track-to-raise-rates-2015-04-09-11034611)
after a strong U.S. labor-market update.
In London, the U.K.'s FTSE 100
(http://www.marketwatch.com/story/ftse-100-at-record-high-as-shire-property-stocks-gain-2015-04-10)
notched a new record high, rising 1.1% to 7,089.77. Shire PLC
topped the index with a 4.8% climb, spurred after the
pharmaceutical company said the U.S. Food and Drug Administration
will consider its application for its Lifitegrast dry-eye disease
treatment under a priority review.
In Paris, the CAC 40 ended up 0.6% at 5,240.46.
This week, European M&A activity was in the spotlight, as
Dutch parcel-delivery company TNT Express NV agreed to be bought by
FedEx Corp. (FDX) for about EUR4.4 billion ($4.8 billion). Also,
oil heavyweight Royal Dutch Shell PLC (RDSB)(RDSA) reached a deal
to take over BG Group PLC for GBP47 billion ($68.77 billion).
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