Europe’s main stock index closed at a record high on Friday, on track for its biggest weekly gain since late January, as risk appetite was bolstered by growing bets on interest rate cuts in the region and a strong earnings season.finished the week on a positive note, adding 0.4 per cent, as the Dublin market was lifted by a 1.1 per cent climb forrose 0.6 per cent to €80.00, while the banks were also in positive territory, with AIB up 2 per cent at €4.99 and Bank of Ireland edging up 0.
The blue-chip FTSE 100 ended 0.6 per cent higher, notching a new peak and breaching the 8,400 mark earlier in the session. The mid-cap FTSE 250 hit its highest level in more than two years and also closed 0.6 per cent higher. Both indexes logged a third consecutive week of gains. Vodafone Group was up 1.9 per cent after the British government made a final order to conditionally approve the proposed merger between the telecom company’s UK operation and Hutchison’s Three UK.The pan-European STOXX 600 ended 0.7 per cent higher, with indexes in major economies Germany and France finishing at record highs. European shares have resumed their record-breaking rally, with the STOXX 600 notching a 3 per cent weekly gain, after investors took a breather in April.