European Shares Rebound After 4 Days of Selling

European shares rebounded on Wednesday as investors picked stocks that were battered in a recent market sell-off on concerns about mounting Western sanctions against Russia after its invasion of Ukraine.

The pan-European Stoxx 600 index rose 2.6 percent after a series of four-day losses. The hard-hit banking, travel, and leisure sectors and automakers led the gains in morning trading, with each advancing more than 4 percent.

Shares of Apple’s European suppliers, such as ASML, AMS, and Infineon, rose 3.5% to 5% after Apple added 5G connectivity to the iPhone SE and iPad Air. Low cost and faster chip made for computers.

Shares of Adidas jumped 7.6% after the German sportswear company said it expected a recovery in sales of its business in China, but warned of 250 million euros ($273.10 million) in damages from halting business in Russia.

Unicredit, Italy’s second-largest bank, advanced 7.4% and France’s BNP Paribas rose 7.9%, even as the two banks disclosed their exposure to Russia.

Global stock markets fell in a volatile session on Tuesday after the United States and Britain moved to ban Russian oil imports, raising fears of global inflation. The pan-European Stoxx 600 index has lost nearly 13 percent since the start of the year.