European shares open at record high on boost from energy stocks, miners [Reuters]
SYMRISE AG UNSP/ADR (SYIEY)
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Source: Reuters
The pan-European STOXX 600 climbed 0.5% in a broad-based rally, eyeing a 2.8% weekly gain. Earlier this week, the hinted at summer rate cuts and delivered its first cut since 2016. Last month, the in its policy meeting signalled a rate cut in June, all underscoring Europe's divergence from the U.S. Federal Reserve. Investors awaited minutes from the ECB's last policy meeting later on Friday. Basic resources , up 1.4%, topped sectoral gainers tracking higher metal prices, while energy stocks rose 1.1% in line with gains in Iveco Group jumped 4%, after the Italian truck and bus maker reported higher first-quarter operating profit, with margin improving in all business segments. Zalando rose 3.8% after Berenberg upgraded the German online retailer to "Buy" from "Hold", while Symrise dropped 1.2% after Berenberg downgraded the German flavour and fragrance maker to "Hold" from "Buy". Get a look at the day ahead in European and global markets with the Morning Bid Europe newslet
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