European Stocks Hit Fresh Record High as Miners Rally


European stocks extended a recordsetting rally on Monday as optimism about the reopening of economies and easy monetary policy lifted cyclical sectors, including mining and financials.

The panEuropean STOXX 600 index rose 0.1 to hit a fresh alltime high in early trading, with miners rallying 2.2 on the back of strong metal prices. METL IRONORE

UKs commodityheavy FTSE 100 rose 0.2 despite a surge in the pound, with British Prime Minister Boris Johnson set to announce the next phase of reopening from the COVID19 lockdown.

British Airwaysowner IAG, easyJet and Wizz Air, however, fell between 1.5 and 3.4 after UK allowed international travel to resume from May 17, but just 12 countries made the socalled green list.

German biotech company BioNTech surged 10.8 after revealing plans to build a new manufacturing site for its vaccines based on messenger RNA technology mRNA in Singapore.

Reporting by Sruthi Shankar in Bengaluru; Editing by Anil DSilva

Source Reuters


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