European Shares Rise at The End of a Week of Turmoil

European shares rose on Friday, July 9, as investors bought, after one of the worst sell-offs in the market since the beginning of the year, amid concern over the stalled global economic recovery.

The pan-European STOXX 600 index rose 0.8%, as sectors hit by the drop this week saw gains, such as automakers and mining the most.

On the other hand, the benchmark index is still on a weekly losing streak after declining 0.4% due to a new jump in Covid-19 infections, especially in Asia, as well as due to the rise in bond markets, which is hurting the appetite for riskier assets.

The shares of IAG, the owner of British Airways, EasyJet, and Ryanair rose between 1% and 2.6%, as Britain plans to end the quarantine on arrivals from abroad who received full doses of the vaccine from other countries others in the coming weeks.

French aircraft maker Airbus gained 2.5% after the company announced a 52% jump in deliveries in the first half of the year.