European markets higher after Stoxx 600 closes at all-time high; Standard Chartered up 9.4%

European stocks were higher Friday, extending positive momentum after the pan-European benchmark closed at a record high in the previous session.

Global markets hit record highs this week as the frenzy around artificial intelligence boosted risk sentiment and hopes of a return to economic growth. But some investors have urged caution, suggesting that high tech valuations could put the rally at risk.

Oliver Bäte, CEO of wealth manager Allianz, which has around $1.85 trillion in assets under management, said it looks 'very dangerous out there.' 'We are very cautious about some of the valuations in the tech sector,' he told CNBC's 'Squawk Box' Friday. Read the full story here. — Karen Gilchrist

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