European stocks jump to fresh record high after UK election results

European stocks jumped new record highs in morning sessions on Friday, to extend gains for the third straight session, amid a strong sentiment after the British snap election results, and news reports about the US and China getting closer to reach the phase one trade deal.

Stoxx Europe 600 rose by 1.6% as of 08:35 GMT, to hit its all-time high, as it closed higher by 0.3% yesterday, and posted its second straight daily gain, after upbeat remarks by ECB President Christine Lagarde. 

The index opened today's session higher, to extend its gains for the third straight session, and hit its highest record at 414.47 points, as most of the major European exchanges and sectors rose today.

The banking sector saw the largest gains in Europe today, with a rise by 3.3%, to extend strong gains for the second consecutive session after  Christine Lagarde's recent upbeat remarks. 

Lagarde said on Thursday that she is aware of the side effects behind the European Central's unconventional monetary policy.

The Conservative Party led by PM Boris Johnson won the overwhelming majority in the snap elections in Britain, which is the party's biggest victory since the 1987 election, paving the way for the UK to exit the EU on January 31.

CNBC TV citing sources close to the trade talks, said on Thursday that the Trump administration had reached the phase one deal with China, and the sources confirmed it's pending President Trump signing.

President Trump tweeted yesterday the US is very close to reaching a big trade deal with China, which comes ahead of the deadline for the US tariffs hike on Chinese imports.

S&P 500 futures rose by 0.4% today, to hit all-time high while it closed higher by 0.9% yesterday at Wall Street, and posted a record high of 3,176.28 points.

Back to Europe, the Euro Stoxx 50 index rose by 1.3%, the German DAX rose 1.3%, while France's CAC 40 rose by 1.1%. 

In London, the FTSE 100 index rose by 1.5%, to lead gains in Europe.