European stocks rose on Friday as investors hunted for bargains after one of the worst selloffs this year amid worries about a stuttering global economic recovery. The pan-European STOXX 600 index gained 0.8% by 0717 GMT, with sectors that took a hit from this week’s plunge — like automakers and miners — rising the most.
Autos and travel stocks were leading the gains, up by more than 1%. The travel sector has been hit hard by Covid restrictions, but news on Thursday that the U.K. is easing some of the quarantine rules is supporting the sector in early Friday trading.
The U.K. government said that double-vaccinated people will be allowed to travel without having to self-isolate on their return unless they are traveling from a high-level risk country. The government also said it was working to lift quarantine rules for double-vaccinated people visiting the U.K.
G-20 finance ministers and central bank governors are meeting in Venice, Italy, to talk about tax and the economic recovery.
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