Rising bond yields dragged European stocks lower on Friday, but major bourses were set for strong weekly gains as stimulus and vaccination programmes spurred hopes of a solid economic recovery, Reuters reports. The pan-European STOXX 600 fell by 0.4 percent in early trading, after a four-session winning streak drove the index to pre-pandemic highs a day earlier. German carmaker Daimler slipped by 2 percent after French rival Renault sold its entire stake in the company at a discount. British luxury group Burberry jumped by 7.2 percent to the top of STOXX 600 after saying it had seen a strong rebound in sales since December.

Source: The Standard March 12, 2021 09:22 UTC