European stocks on longest weekly winning streak in a year By Reuters

European stocks on longest weekly winning streak in a year By Reuters


© Reuters. The German share price index DAX graph is pictured at the stock exchange in Frankfurt

(Reuters) – European stocks were subdued on Friday, but on course for their longest weekly winning streak in more than a year as hopes of a rapid recovery in economic growth offset doubts over the euro zone’s COVID-19 vaccination programme.

The pan-European index inched down 0.1% after hitting an all-time high at the open, while UK’s blue-chip and slipped about 0.1% and 0.2%, respectively.

London equities have outperformed this week, with the domestically focussed FTSE mid-cap index hitting a record high as Britain gradually emerges from a strict winter lockdown.

Airline stocks including British Airways-owner IAG (LON:), easyJet (LON:) and Wizz Air rose between 0.2% and 1.0%. Britain will confirm in early May whether it will allow international travel to resume from May 17.

Travel company TUI fell 5.7% after saying it planned to offer convertible bonds worth 350 million euros to improve its liquidity position as the pandemic disrupts travel plans.

Airbus rose 2% after the French planemaker reported slightly higher deliveries in the first quarter.

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