European stocks rose to levels they have not seen since 2008 as growing confidence in corporate earnings and the strength of the global economy continue to fuel the rise of the market, which has shrugged off fears that the US government might close.

The Stoxx Eurozone index ended 0.73 percent higher at 402.95 points, its highest level in 10 years, while the Stoxx 600 European index rose 0.5 percent to 400.71 points, the highest level in two and a half years.

The European corporate earnings season is accelerating next week, with equity values ​​rising to more than a year high and investors betting that the earnings engine still has more to offer to support the market.

Merrill Lynch strategists say the continued rise in global equities is expected to continue in the short term as investors inject record amounts of liquidity into equities.

Shares in all sectors, except the energy sector, which fell 0.77 percent, were affected by a fall in crude prices.

The index of European companies selling home and personal goods jumped 1.5 percent, with Adidas up 6.9 percent and France’s Sip up 4.0 percent.

The core resources sector index, which includes major miners, rose 0.6 percent as metal prices gained support from China’s first rapid economic growth in seven years.

Shares in Software AG rose 1.7 percent to an 18-year high, boosted by expectations that the company’s earnings will rise in 2018 as a result of tax reforms in the United States.

In Europe’s major bourses, the FTSE closed 0.4 percent higher. The German DAX ended the day at 1.15 percent, while French CAC rose 0.58 percent and Spain’s Ipex gained 0.45 percent.