European Stocks Mixed Performance With The Increase in COVID-19 Cases

Telecom companies pushed European shares up slightly, but the main indicators are heading towards a sharp weekly decline as the continent suffers a new wave of Covid-19 infections.

The pan-European STOXX 600 index rose 0.2%, while telecom shares jumped 0.8%, topping the sectors’ gains.

Shares in Spanish telecoms operator Massmoville rose 0.7% after a local newspaper reported that Vodafone had begun talks to buy the company. Vodafone gained 1.3%.

The French CAC 40 index fell 0.4% after the country set a new record for daily COVID-19 cases, and the prime minister warned on Thursday that the government might be forced to re-restrict movement in regions again.

The German DAX index fell 0.3%, and the British FTSE 100 index was flat.