LONDON May 10 European equities edged up to
fresh five year highs on Friday, continuing to draw comfort from
central bank stimulus and with steelmaker ArcelorMittal
jumping on strong earnings.
The FTSEurofirst 300 index was up 0.1 percent at 1,229.97
points by 0704 GMT, testing levels not seen since June 2008
, as investors continued to draw comfort from economic
stimulus offered by global central banks.
"It's up, up and away," said Justin Haque, a broker at
Hobart Capital markets.
"Everybody is predicting the end (of the rally), and every
hedge fund manager is trying to short it and every commentator
is saying it's not going to last, but it will last because of
ArcelorMittal jumped 6 percent after the world's largest
steelmaker posted higher than expected core profits in the first
quarter and forecast further improvement to come.