European Shares Rise With The Rise of Shares of Food Delivery

European shares rose on Wednesday, led by gains in food delivery stocks, despite continuing concerns about the prospects for a global recovery in light of the increase in COVID-19 cases due to the spread of the mutant Omicron.

The pan-European Stoxx 600 index rose 0.1 percent after it had jumped 1.4 percent in the previous session, its best day in two weeks.

Shares of Just It Takeaway.com rose 5.1 percent after the food delivery company announced an agreement with OneStop, a British supermarket chain owned by Tesco, to order meals and delivery services on its platform.

Germany’s Delivery Hero jumped 6 percent after it said it would scale back operations of its Foodpanda unit in its home country, as well as sell its Japanese unit, due to increased competition and a shortage of workers.