European shares near record high as industrials jump By Reuters

(Reuters) – European shares inched towards a record high on Friday as construction-related stocks tracked a jump on Wall Street on the back of an infrastructure bill, while Credit Suisse (SIX:CSGN) rose after a Reuters report it was considering a potential merger with UBS.

The scandal-hit Swiss bank was up 2.0% and among the biggest boosts to the STOXX 600 as the report said Credit Suisse’s management was under pressure to come up with an overhaul plan. UBS shares were down 0.1%.

The pan-European STOXX 600 rose 0.1% and was set to end a volatile week modestly higher, led by construction-related stocks following a jump in the U.S. infrastructure sector as U.S. President Joe Biden embraced a bipartisan Senate infrastructure deal.

German stocks were flat even as a report showed consumer sentiment improved more than expected heading into July.

British subprime lender Amigo surged 12.1% after saying it had secured a three-month extension to a funding line as it scrambles to secure its future after a court rejected a rescue plan for the firm last month.