Europe's STOXX 600 set for best week in over a month as rally broadens out

Europe’s STOXX 600 set for its best week in over a month as the rally broadens, with the index climbing to a record on Friday. The pan-European STOXX 600 rose 0.5% to 651.52 points by 0709 GMT and was on track for its biggest weekly gain since mid-May. Germany’s DAX led regional markets, up 0.9% and also reaching an all-time high. Siemens added 1.2% after brokerage Kepler Cheuvreux upgraded the stock to “hold” from “reduce,” while defense stocks rose 0.8% amid Russia’s deadliest strike in Ukraine this year. Softer-than-expected U.S. jobs data reduced expectations of an imminent Federal Reserve rate hike.