European markets: stocks, news and data [Video]

LONDON — European markets closed at a fresh record high Friday, as stocks tracked higher on news of China’s stimulus blitz and investors assessed fresh inflation data.

The pan-European Stoxx 600 ended 0.52% higher to hit an all-time high of 528.33 points, having notched a record intraday high earlier in the session, according to LSEG data.

Chemicals stocks led the gains, adding 2.75%, while auto names rose 2.23%.

It comes after Chinese markets clocked their best week in almost 16 years, with the mainland’s CSI 300 rallying 15.7% this week. The last time the index saw a bigger weekly gain was the week ended Nov. 14, 2008.

China launched a large-scale stimulus package this week in a bid to boost growth and restore confidence in the world’s second-largest economy.

The People’s Bank of China said it is cutting its seven-day reverse repo rate to 1.5%, the second reduction in around three months, and slashed …