European stocks extend record-breaking rally

European stock indices rose on Friday, extend their rally for the tenth straight day, thanks to strong market sentiment following successive upbeat earnings reports, and after record gains in Wall Street.

The Stoxx Europe 600 index rose 0.14% as of 09:10 GMT and hit a new record at 476.14 points, after closing higher by 0.1% yesterday. 

The insurance sector saw the largest gains in Europe today, with a jump of more than 1%, extending its strong gains for the second day in a row.

Europe's major banks and companies continue to report strong earnings during the second quarter of this year, which reflects a continued recovery from the coronavirus pandemic.

S&P 500 futures rose 0.1% today ahead of Wall Street's opening, after the index closed higher by 0.3% yesterday, and hit a new record high at 4,461.77 points.

Back to Europe, the Euro Stoxx 50 index rose 0.3%, France's CAC 40 rose 0.35%, Germany's DAX index rose 0.6%, and the UK's FTSE 100 rose more than 0.4%.