Europe shares closed slightly higher, after heavy losses in a previous session, but recorded its worst week since the peak of the selling wave linked to Covid 19, due to concerns about the pace of economic recovery.

The pan-European STOXX 600 index closed 0.3 percent higher after recording its worst one-day loss since March 23 in the previous session.

On a weekly basis, the index fell nearly 5.6 percent, as travel and entertainment stocks were the worst performers, as sentiment was rocked by fears of a second wave of Corona virus infections in the United States.

Shares that were affected by auto companies, basic resources and real estate companies rose between 1.4 percent and two percent today.

Royal Dutch Shell, BP and Total shares also rose between 0.6 and 1.7 percent, despite a drop in oil prices.

The data also showed that euro zone industrial output fell at the highest rate ever in April, as isolation measures halted activity across the region, while analysts point to the difficulty in recovering the sector.

Source: Reuters

By:Nadeemy Haded

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