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STOXX 600 up 0.1

Jan 16 Reuters European shares inched up on Monday as gains in healthcare stocks helped the benchmark index extend its sharp rally thus far into the new year, while UK39;s FTSE 100 hovered close to a record high.

The panEuropean STOXX 600 gained 0.1 in early trading, boosted by a 0.8 rise in healthcare stocks.

Pharmaceutical companies such as Koninklijke Philips and Novo Nordisk added more than 2 each.

The panEuropean index has added 6.6 since the start of the year, as warmer weather added to hopes of a milderthanexpected recession in the region and data signalled an easing of price pressures in the United States and the eurozone.

UK39;s FTSE 100 rose 0.1 to 7,852.84, inching closer to a record 7,903.50.

Investors appear to have fallen back in love with UK assets, after a difficult period when FTSE 100 was the wallflower among global indices, said Susannah Streeter, senior investment and markets analyst at Hargreaves Lansdown.

Confidence has rebounded as investors eye up Chinas reopening, helping commodity stocks. A stronger than expected appetite from consumers has boosted the retail, travel and hospitality sectors, while banks are still riding the wave of higher interest rates.

The World Economic Forum39;s annual winter shindig in…