(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.
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