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European shares advanced on Friday morning, led by airlines and automakers after a big drop in crude-oil prices.

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European stocks posted strong gains Wednesday as rising profits and falling crude-oil prices helped lift automakers Peugeot, Fiat and Volkswagen, with banking shares also rebounding sharply following on the heels of Wall Street's gains.

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European shares broke a five-session winning streak on Tuesday, with banks under pressure after UBS unveiled a second-quarter loss and automakers giving back some strong gains made over the past week.

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European shares declined on Tuesday, with consumer discretionary stocks and banks under pressure as oil futures hovered around $107 a barrel and investors continued to fret about the U.S. government's plans to stabilize the financial sector.

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  DJ MARKET COMMENT: European Stocks Up On Automakers

European stocks are set to open lower Friday, as further declines in the price of crude and ongoing worries over the future of U.S. automakers intensifies concerns over the state of the global economy.

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  Na otwarciu Dow Jones zyskał 0.0675%
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