European stocks recorded their worst weekly decline since mid-June on Friday, as investors feared that a second wave of coronavirus infections will hamper economic recovery, while banking stocks sank to an all-time low.
* Italian banking stocks surge 1.3%
(Updates to market close)
European stocks rose on Wednesday, as a rebound in beaten-down travel stocks and gains for Adidas and other sports names took the edge off data that highlighted an uneven path for economic recovery in the euro zone.
A jump in oil and tobacco shares helped European stocks close higher on Tuesday, with the main indexes partially recovering from a selloff triggered by fears of new lockdowns as COVID-19 cases spike across the continent.
European stocks posted their worst fall in three months on Monday as fears of a second wave of COVID-19 infections hit travel and leisure shares, while banks tumbled on a report about $2 trillion worth of suspect transfers by leading lenders. | Video
European equity markets closed lower on Friday, with travel, banking and auto shares leading declines as a resurgence in coronavirus cases across the continent rekindled fears about the pandemic's impact on a nascent economic recovery.
European shares broke a four-day winning run on Thursday, with banks reeling from the prospect of near-zero interest rates for a prolonged period, while a technology stock sell-off continued on Wall Street, piling pressure on European tech shares.