The Recovery of The Travel Sector Lifts European Stock Indices

European shares rose on Friday, July 16, after travel stocks rebounded, following sharp losses earlier in the week, while a slew of positive business results overshadowed concerns about the rising delta strain cases on the continent.

The European STOXX 600 index rose 0.3%, making it destined to end the week flat or slightly lower.

The travel and retail sectors were among the top gainers among the sectors.

Sweden’s Ericsson share price fell 9.4% after the company reported core earnings in the second quarter that fell short of market estimates, weighed down by lower sales on the Chinese mainland.

In Britain, the FTSE 100 and mid-cap stocks rose 0.5% each after sharp losses earlier in the week with the trend to lift more pandemic-related restrictions on Monday.