European stocks close in on record high

The pan-European STOXX 600 index gained 0.2% to 445.10 points on Monday, hitting near its record high of 446.19 points.

The STOXX 600 closed the week marginally higher on Friday despite pressing inflation concerns as a survey showed euro zone business growth increased at its fastest pace in over three years in May.

Other parts of the euro zone had subdued markets as Austria, Denmark, Hungary, Norway, Switzerland, and Germany closed for holiday.

In the U.K., Cineworld Group Plc added 2.8% following animated adventure comedy “Peter Rabbit 2: The Runaway” became an official hit after a months-long COVID-19 lockdown.

Meanwhile, European Central Bank President Christine Lagarde remarked on Friday it was still too early to discuss policy after the end of its 1.85 trillion euro emergency bond purchase scheme, crossing out the possibility of tapering rates. The central bank officials will meet early in June to discuss its policy.