The travel sector revives European stocks… and technology is falling in Japan


European shares rose on Friday, after travel stocks rebounded from sharp losses recorded earlier in the week, while a slew of positive business results overshadowed concerns about the increasing cases of the “Delta” strain on the continent.
The pan-European Stoxx 600 index rose 0.3% during trading, which makes it set to end the week stable or slightly lower. The travel and retail sectors were among the top gainers among the sectors.
Sweden’s Ericsson shares fell 9.4 percent after it reported core earnings in the second quarter that fell short of market estimates, weighed down by lower sales on the Chinese mainland.
In Britain, the FTSE 100 index and shares of medium-capital companies rose 0.5 percent each, after sharp losses earlier in the week, with the trend to lift more restrictions related to the pandemic, Monday.
The Japanese benchmark Nikkei index fell, on Friday, below the psychologically important 28 thousand points level, as technology shares tracked the impact of declines on Wall Street overnight, while investor sentiment was affected by the continued rise in the frequency of infections with the Corona virus.
New infections with “Covid-19” jumped to 1,308 in Tokyo, Thursday, the highest level since January, a week before the city hosts the Olympics, which may lead to a new increase in injuries amid the influx of foreign athletes and officials.
The Nikkei, which weighed heavily on technology shares, fell to a low of 27847.35 points, before ending the session down one percent at 28003.08 points, imitating the declines led by the Nasdaq Composite Index of US stocks.
Among the stocks listed on it, Advantest and Tokyo Electron lost 2.2% and 1.6%, respectively, after rival TSMC indicated plans to build new factories in the United States and Japan and increase production capacity in China.
Camera manufacturers Techon Corp and Olympus fell 2 percent and 1.4 percent, respectively, while Sony’s tumbled 2.2 percent.
The broader Topix index ended Friday, down 0.4 percent to 1,932.19 points.


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