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.
At least 16 military and several civilians were killed on Sunday in the heaviest clashes between Armenia and Azerbaijan since 2016, reigniting concern about stability in the South Caucasus, a corridor for pipelines carrying oil and gas to world markets.