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Market Update

European Markets Up as DAX Hits Record

European markets were up Friday tracking their global counterparts higher with the German benchmark index hitting a record high.

The FTSE rose 0.5%. The CAC 40 Paris rose 0.6% while the DAX was up 0.7%.

Thursday on Wall Street, both the S&P 500 and the Dow rallied to close at another record high, boosted by a bigger-than-expected decline in weekly jobless claims.

Earlier today, data showed French producer price inflation rose unexpectedly last month to a seasonally adjusted 0.5% from -0.2% in the preceding month.

Stocks on the Move

Barclays PLC was up 1.3%. The bank was fined $3.75 million by the Financial Industry Regulatory Authority over its alleged decade-long failure to adequately keep electronic records, emails and instant messages.

RBS was up 1.6% while HSBC declined 0.2%.

Aussie miner BHP Billiton gained 0.8% while Anglo American was up 1.1%.

French cement major Lafarge S.A. edged up 0.3%. The company said it would sell its remaining 20% stake in its former European and South American gypsum operations to Belgian building materials group Etex for 145 million euros.

Deutsche Telekom was up 1.2% while Deutsche Bank was up 0.8%.