Stocks also rose following news of strength in the UK housing market and US inflation data.
Japanese and Australian shares hit fresh record highs on Friday as a key U.S. inflation reading came in as expected, a relief for investors that had looked for a June rate cut, while mixed data from China bolstered hopes for more policy support. Europe is set to open higher, with both EUROSTOXX 50 futures up 0.5% and FTSE futures gaining 0.6%. Australia's resources-heavy shares rose 0.6% to a new record high.
LONDON SYDNEY (Reuters) -Global shares drifted around record highs on Friday after U.S. and euro zone inflation data and weak global factory surveys kept hopes of central bank rate cuts in coming months intact. With markets dominated by bets of both the U.S. Federal Reserve and the European Central Bank lowering borrowing costs in June, Europe's Stoxx 600 index rose 0.2% in early dealings, extending an all-time record. In Asia, Japan's Nikkei index jumped 1.9% to hit a fresh all-time high, extending a surge of 7.9% the previous month when it breached levels last seen in 1989.