European Shares Reach All-Time High Despite Banking Sector Concerns

European shares closed at a record high despite significant banking sector declines due to concerns over credit issues and AI disruption. The STOXX 600 advanced 0.1%, marking its longest winning streak since 2012-2013, while banks like Barclays witnessed sharp declines amid market concerns.

European shares reached a historic high on Friday, capping an eighth consecutive month of gains despite significant setbacks in the banking sector.

The pan-European STOXX 600 rose 0.1%, bringing its weekly gains to 0.5%, as better-than-expected corporate updates bolstered investor sentiment.

However, the banking sector saw a sharp decline, with Barclays falling 4.2% amid concerns over credit and AI disruptions, highlighting ongoing challenges for financial institutions.

(With inputs from agencies.)