European stocks rallied to a high close on Friday as Wall Street surged in response to key earnings reports from leading US companies which lessened fears about the economic slowdown, traders said.
London's FTSE 100 index of leading shares gained 1.27 per cent to end at 6,056.50 points and Frankfurt's Dax 30 surged by 2.41 per cent in value to 6,843.08 points.
In Paris the CAC 40 jumped by 2.05 percent to finish at 4,961.69. The European single currency stood at 1.5730 dollars, falling on profit-taking after striking a record peak at 1.5984 on Thursday.
US shares roared higher on Friday morning trade as investors cheered earnings reports from Citigroup, Google and other big companies indicating that ongoing financial turmoil may be winding down.
"Several big companies have placated the market's worst fears with respect to earnings," said Patrick O'Hare, an analyst said.
The blue-chip Dow Jones Industrial Average surged 1.50 per cent to 12,810.04 points within five minutes after the market opening and managed to hold onto the gains heading into afternoon trade.
Internet search giant Google set the buoyant tone, reporting after Thursday's market close that profits surged more than 30 percent to 1.31 billion dollars (832 million euros) in the first three months of the year.
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