Europe: Stocks on longest weekly winning streak in a year

[BENGALURU] 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 Stoxx 600 index inched down 0.1 per cent after hitting an all-time high at the open, while UK's blue-chip FTSE 100 and Germany's DAX slipped about 0.1 per cent and 0.2 per cent, 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, easyJet and Wizz Air rose between 0.2 per cent and 1 per cent. Britain will confirm in early May whether it will allow international travel to resume from May 17.

Travel company TUI fell 5.7 per cent 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 per cent after the French planemaker reported slightly higher deliveries in the first quarter.

REUTERS