European stocks closed at a record high on Friday, marking strong weekly gains as positive economic data and upbeat earnings underpinned hopes of a swift economic recovery from the COVID-19 pandemic. Global stocks rallied to record highs as investors scaled back expectations of policy tapering by the U.S. Federal Reserve, after data showed the U.S. labour market had a long road to recovery from the pandemic.
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By Sruthi Shankar and Ambar Warrick
May 7 (Reuters) - European stocks closed at a record high on Friday, marking strong weekly gains as positive economic data and upbeat earnings underpinned hopes of a swift economic recovery from the COVID-19 pandemic.
