European stocks surge to record high

European stocks rose on Friday to an all-time high, with the main index set to post a fourth straight weekly gain despite caution among investors ahead of key euro zone inflation data.

According to CNBC, the pan-European STOXX 600 index rose 0.2% to 525.65 points by 0713 GMT on Friday, surpassing its previous peak of 525.59 points reached in June.

The benchmark index is set to post a fourth straight weekly gain of about 1.3% in what will be the longest streak in more than five months. The index is also expected to post a second straight monthly gain, a trend not seen in about six months.