NEW YORK - Global equities rallied on Friday as traders digested corporate results and prepared for US President-elect Donald Trump's inauguration next week, pushing London's benchmark FTSE 100 and Frankfurt's DAX 40 index to new all-time highs.
All three major indices on Wall Street closed higher, with the Nasdaq Composite propelled by a rise in tech stocks.
The UK's index of blue-chip companies jumped to 8,533.43 points, surpassing an intra-day record achieved in May last year.
In Frankfurt, the DAX struck 20,924.50, besting a peak set just last month.
Chinese markets also closed higher Friday after fresh data showed the country's economy grew slightly quicker than expected last year.
The five-percent expansion was in line with the government's target but the weakest since 1990 -- excluding the pandemic years -- as leaders fought to address weak consumption and a real estate debt crisis.
A surge in the final quarter was helped by a string of stimulus measures and a boost in retail sales.
In London, stocks have been boosted in recent days by a drop in UK government bond yields after a spike in state borrowing costs last week sent the pound tumbling.
Sterling was lower Friday, reflecting ongoing strains for the British economy, which is struggling to grow despite falling inflation.
Official data Friday revealed a surprise drop in UK retail sales in December.
The FTSE 100 contains numerous multinationals whose revenues are largely earned in dollars, enabling them to profit from a falling pound.
London and its European peers -- along with Wall Street -- have won support this week also as traders forecast more interest-rate cuts this year from major central banks.
Indices have also rallied thanks to some positive company earnings and easing geopolitical concerns.