European travel names like Lufthansa, TUI and British Airways-owner IAG rose between 4.7 per cent and 7.2 per cent. Wizz Air and easyJet rose more than 4.5 per cent each despite posting a double-digit decline in fourth-quarter revenue.
Other European stocks that were highly bid this week, like CD Projekt, Ambu and Varta, extended gains, while Nokia tumbled 13 per cent. "With valuations at levels already pricing in much of the recovery from a pandemic that is far from over, these corrections are always possible," Ian Williams, economics and strategy research analyst at Peel Hunt said in a note.
Meanwhile, the European Union warned drug companies such as AstraZeneca that it would use all legal means or even block exports unless they agreed to deliver shots as promised.