Earnings, metal rally spur record high for European stocks

European stocks hit a record high on Thursday as a rally in commodity prices lifted miners, while some positive earnings reports offset worries about the pace of COVID-19 vaccination in the continent. The pan-European STOXX 600 index inched up 0.3% in its third session of gains, with miners and travel stocks leading the rise.

European stocks hit a record high on Thursday as a rally in commodity prices lifted miners, while some positive earnings reports offset worries about the pace of COVID-19 vaccination in the continent.

The pan-European STOXX 600 index inched up 0.3% in its third session of gains, with miners and travel stocks leading the rise. UK's commodity-heavy FTSE 100 outperformed as a surge in metals prices lifted shares of companies such as Rio Tinto, Anglo American, and BHP.

Swiss engineering company ABB rose 3.3% after raising its full-year sales outlook. French advertising group Publicis gained 2.6% as it returned to organic growth for the first time since before the COVID-19 pandemic.

Britain's food delivery company Deliveroo slipped 1.5% even as its quarterly orders more than doubled in its first trading update since its underwhelming market debut last month.