European stocks hit fresh record high as miners rally

  • Reuters
  • Stock Market News
European stocks hit fresh record high as miners rally
Credit: © Reuters.

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May 10 (Reuters) - European stocks extended a record-setting rally on Monday as optimism about the reopening of economies and easy monetary policy lifted cyclical sectors, including mining and financials.

The pan-European STOXX 600 index .STOXX rose 0.1% to hit a fresh all-time high in early trading, with miners .SXPP rallying 2.2% on the back of strong metal prices. MET/L IRONORE/

UK's commodity-heavy FTSE 100 .FTSE 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 COVID-19 lockdown. Airways-owner IAG ICAG.L , easyJet EZJ.L and Wizz Air WIZZ.L , however, fell between 1.5% and 3.4% after UK allowed international travel to resume from May 17, but just 12 countries made the so-called "green list". biotech company BioNTech 22UAy.DE surged 10.8% after revealing plans to build a new manufacturing site for its vaccines based on messenger RNA technology (mRNA) in Singapore.

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