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Fresh records for US stocks; European shares mostly up

Wall Street stocks surged to fresh records yet again Friday, with all three major indices jumping to new highs for the second straight session. Optimism about a new era of economic growth ushered in by the US elections "has unleashed a rush of animal spirits that hasn't been seen in some time," said Briefing.com analyst Patrick O'Hare. Gains in US markets were biggest in the Dow, which jumped 0.7 percent to 19,756.85, closing in on the 20,000 threshold and adding another to a string of record closes. Tokyo also enjoyed big gains, climbing 1.2 percent to finish at another fresh high for 2016. Paris, London and Frankfurt scored moderate gains, while Milan tumbled due to bad news for the world's oldest bank, Monte dei Paschi. Milan ended 0.7 percent lower, dragged down by Monte dei Paschi di Siena (BMPS), whose stock tumbled over 10 percent after reports the European Central Bank had denied it more time to raise the cash it needs to avoid being wound down. BMPS on Wednesday asked the ECB for two more weeks to find the funds, saying political instability created by Prime Minister Matteo Renzi's resignation had left investors reluctant to commit funds. But the ECB's supervisory board was reported to have said "no" Friday, upping pressure on the Italian government to bail out the ailing institution. The news out of out Italy "added to the euro's broadly heavier tone" after the European Central Bank on Thursday announced it was extending its bond-buying program, said Omer Esiner, analyst at Commonwealth Foreign Exchange. London saw a late flurry of activity after European pay-TV broadcaster Sky said it had received an informal takeover approach from US media-entertainment giant 21st Century Fox. Sky shares closed 26.7 percent higher at 10 pounds, which compares with a 10.75 pounds price tag per share in the offer. Fox, which said key items are still under discussion and there is no guarantee the transaction will be finalized, lost 2.0 percent. Coca-Cola jumped 2.5 percent as it announced that Muhtar Kent will step down as chief executive in May to be replaced by president and chief operating officer James Quincey. - Key figures around 2200 GMT - New York - Dow: UP 0.7 percent at 19,756.85 (close) New York - S&P 500: UP 0.4 percent at 2,259.53 (close) New York - Nasdaq: UP 0.5 percent at 5,444.50 (close) London - FTSE 100: UP 0.3 percent at 6,954.21 (close) Frankfurt - DAX 30: UP 0.2 percent at 11,203.63 (close) Paris - CAC 40: UP 0.6 percent at 4,764.07 (close) Milan - FTSE MIB: DOWN 0.7 percent at 18,292.65 (close) EURO STOXX 50: UP 0.4 percent at 3,198.98 Tokyo - Nikkei 225: UP 1.2 percent at 18,996.37 (close) Hong Kong - Hang Seng: DOWN 0.4 percent at 22,760.98 (close) Shanghai - Composite: UP 0.5 percent at 3,232.88 (close) Euro/dollar: DOWN at $1.0558 from $1.0612 Thursday Dollar/yen: UP at 115.29 yen from 113.95 yen Pound/dollar: DOWN at $1.2576 from $1.2586 Oil - West Texas Intermediate: UP 66 cents at $51.50 per barrel Oil - Brent North Sea: UP 54 cents at $54.33 per barrel