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Europe: Shares edge higher, Air France jumps on aid deal

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European stocks opened higher on Friday, propped up by positive company updates, although investors remained cautious about a resurgence in US Covid-19 cases and its impact on the global economy.

[BENGALURU] European stocks opened higher on Friday, propped up by positive company updates, although investors remained cautious about a resurgence in US Covid-19 cases and its impact on the global economy.

The pan-European Stoxx 600 index was up 0.6 per cent by 0720 GMT, with technology, chemical companies and miners leading sectoral gains.

Markets this week have swung between fears of a second wave of coronavirus cases and signs of more economic support from governments and central banks. The Stoxx 600 is still on course to post a 1 per cent weekly loss.

Air France-KLM jumped 5 per cent after governments of France and Netherlands reached a deal on an aid package for the airline group, with the latter saying it would provide a 3.4 billion euro (S$5.31 billion) financing package.

AMS rose 5.7 per cent after the Austria-based semiconductor company rejected media allegations of market manipulation during its takeover of Osram. 

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REUTERS

 

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