European stocks touched a fresh record high, on track for 4th weekly gain
European stocks are having a good run, heading for their fourth straight week of gains.
The Stoxx Europe 600 Index touched a fresh record high earlier this week, showing solid momentum across the board.
Strong earnings fuel rally
Strong earnings are fueling the rally—especially from big names in consumer products. Air Liquide also beat expectations.
MSCI Europe firms posted a 3.7% increase in fourth-quarter profits. Overall, European companies grew profits much faster than expected last quarter, helping underpin the market's strength.
Geopolitical risks seen as short-term bumps
A brighter earnings outlook and less worry about a near-term recession have boosted confidence.
Even with some geopolitical risks on the radar, analysts see them as short-term bumps rather than deal-breakers.
Big players like ASML and Roche are also helping keep Europe's stock market near record levels.