Europe close: Stocks continue to take their cue from corporate earnings
European stocks continued to push into record territory at midday on Friday after a strong week of corporate earnings, shrugging off worries about Covid cases forcing the partial closure of a major Chinese container terminal.
"Despite the rise in Delta-variant case numbers, the rebound in earnings on both sides of the Atlantic continues to provide a reason to invest in stocks, record highs for major indices on the two continents being taken as a sign of strength and not irrational exuberance," said IG chief market analyst Chris Beauchamp.
The pan-European Stoxx 600 index was up 0.21% to hit a record high for the tenth successive session at 475.83.
Germany's Dax meanwhile put on 0.25% to 15,977.44 while the FTSE Mibtel added 0.36% to 26,652.56.
Asian shares were lower on news that congestion off China's top two container ports Shanghai and Ningbo was worsening following the shutdown of a container terminal in Ningbo where a Covid-19 case was detected this week.
A similar decision taken in May, at the Yantian port in Shenzhen, had led to shipping delays around the globe.
In equity news, shares in sportswear giant Adidas rose after it said it was selling Reebok to Authentic Brands Group for up to €2.1bn.
Pet supplies retailer Zooplus surged 41% after it accepted a takeover offer worth around €3bn from US private equity firm Hellman & Friedman.
French healthcare company Ipsen slumped 13% to the bottom of the Stoxx after it withdrew a US new drug application for palovarotene, its treatment for an extremely rare disease that causes muscles and tissue to turn to bone.