EU stocks continue bull rampage

European stocks rose, with gains in property companies offsetting a slump in miners, as the benchmark index ended the quarter on Friday at the highest level since December 2015.

The Stoxx Europe 600 Index rose 0.2% at the close, widening its first-quarter advance to 5.5%. The gauge also posted its best March performance since 2010, as easing concern over a win for France’s anti-euro candidate in the country’s upcoming elections boosted lenders.

“As first quarters go it’s been a solid start to the year for 2017,” Michael Hewson, a market analyst at CMC Markets in London, wrote in a client note. “Economic data by and large has been pretty good across the board from the US, UK, Europe and Asia, while rising inflation has prompted some optimism that we could see some trickledown effects into higher wages.”

The Stoxx 600 rose for a third consecutive quarter, its longest run since a streak of five quarterly gains 2014. A chorus of strategists and investors say the reflation rally in Europe has more to go, boosted by those seeking sanctuary from lofty US stock valuations.

Investors are also assessing the Federal Reserve’s rate trajectory.

After the central bank earlier this month raised rates and maintained its forecast for future increases in 2017, some officials this week turned more hawkish.

Miners on Friday snapped a three-day advance, falling 1.5%. – Bloomberg