(Bloomberg) — European stocks were set for their fifth straight weekly advance, the longest streak of gains since May, as investors remained confident about earnings and artificial intelligence demand.
The Stoxx Europe 600 Index was little changed as of 8:20 a.m. in London. The index is on track to rise about 0.7% for the week. Healthcare and industrial goods shares outperformed on Friday, while chemicals and mining sectors were among the biggest laggards.
European equities have hit multiple all-time highs this week, as lingering optimism about potential fiscal stimulus and economic growth outweighed geopolitical concerns.
“Given the improving growth picture in Europe, driven by German fiscal spending, euro area equities have room to move higher, even if at a more moderate pace,” said Wolf von Rotberg, equity strategist at Bank J Safra Sarasin.
In individual stocks, Indra Sistemas SA gained as much as 3.6% after it was awarded a contract close to €1 billion ($1.2 billion) to run London public transportation network’s ticketing and access systems.
For more on equity markets:
You want more news on this market? Click here for a curated First Word channel of actionable news from Bloomberg and select sources. It can be customized to your preferences by clicking into Actions on the toolbar or hitting the HELP key for assistance. To subscribe to a daily list of European analyst rating changes, click here.
More stories like this are available on bloomberg.com
