European shares are falling, but they are about to record the strongest weekly performance again

European shares fell slightly on Friday ahead of an important US jobs report, but were on track to close the week higher as investors boosted confidence in the region’s economic recovery and corporate earnings growth.

The pan-European Stoxx 600 index fell 0.1% in early trading after four sessions of gains that pushed it to record peaks.

The benchmark index is heading towards achieving its best weekly performance since early May, with a gain of 1.6 percent.

Shares of German Allianz Insurance rose 2.4% after it achieved a 46% jump in second-quarter net profit, which exceeded estimates and provided more optimistic forecasts for the full year.

The shares of the London Stock Exchange Group added 2.7% after it announced a 4.6% increase in revenue for the first half of 2021.