Europe open: Shares start session lower as travel stocks weaken

European shares started their final session of the week in red territory with travel stocks lower and investors looking for impetus.

The pan-European Stoxx 600 index was 0.2% lower with all major European bourses were down. London’s FTSE 100 fell on fears of another Covid-19 .lockdown being imposed as infections rose across England amid a testing programme in tatters.

"Talk of new localised and targeted lockdowns, as well as curfews and quarantines appear to be becoming more commonplace, raising concerns about the resilience of the recovery we’ve seen thus far across Europe,” said CMC Markets analyst Michael Hewson.

"Today’s European market open appears to reflect these continued concerns with a fairly weak start as we come to the end of a pretty choppy, but directionless week."

In corporate news, German plastics maker Covestro topped the gainers board with a rise of more than 9% after reports it was being targeted by buyout firm Apollo Global Management Inc.

CaixaBank shares also rose after reaching a deal to buy Bankia to create Spain’s biggest lender.

London Stock Exchange was trading a little higher as it confirmed that it has entered into exclusive discussions with Euronext over the sale of Borsa Italiana.

Travel stocks were lower on fears of more restrictions with easyJet, Aeroports de Paris, Carnival and Trainline all in the red.