European shares at record high as U.S.-EU trade tensions ease

European shares touched a record high on Friday after EU Trade Commissioner Phil Hogan struck a positive tone on talks with Washington, soothing some concerns over a possible escalation in trade tensions between the cross-Atlantic allies.

The pan STOXX 600 index rose 0.4% to a record high of 422.51 by 0803 GMT and was set to mark its best week since late-December. Hogan said on Thursday that he had a good exchange of views with U.S. Trade Representative Robert Lighthizer in Washington, underscoring Brussels' desire to negotiate solutions for several open trade disputes between the United States and the EU.

The trade-sensitive miner's subindex was the best performer for the day, as the prospect of better U.S.-EU trade discourse added to optimism following the signing of an interim trade deal between the United States and China.