European shares set for weekly gains as travel stocks soar

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The pan-European STOXX 600 index rose 0.7% by 0711 GMT and was set for a 0.6% weekly gain after worries about global growth dented markets earlier in the week.

After closing up 3.4% on Thursday in one of the best single-day performances this year, the European travel and leisure index added 1.0%.

Wizz Air, British-Airways-owner IAG (LON:ICAG) and InterContinental Hotels rose between 1.2% and 4.0% after Britain considered easing England’s COVID-19 rules for international travel. (L)

Retailers and banks were among the other top sectoral gainers, up more than 1% each.

Germany’s Commerzbank (DE:CBKG) climbed 3.9% after a Handelsblatt report said U.S. investor Cerberus was considering taking a 15.6% state in the bank after the federal election.