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European Shares Advance On Recovery Hopes

(RTTNews) - European stocks were broadly higher on Friday as strong U.S. economic data and progress on vaccination rollouts helped support hopes of economic recovery.

Underlying sentiment remained cautious amid rising Covid-19 cases across the continent, with the European Commission warning that the European Union is at the start of a third wave of the pandemic.

The pan European Stoxx 600 rose half a percent to 425.18 after ending flat with a negative bias in the previous session.

The German DAX gained 0.7 percent, France's CAC 40 index edged up 0.2 percent and the U.K.'s FTSE 100 was up 0.6 percent.

Sika AG shares advanced 1.6 percent. The Swiss specialty chemicals company said that it has acquired the flooring adhesives business of DriTac, a U.S.-based floor covering adhesives company with an especially strong position in wood floor bonding.
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