👀 Copy Legendary Investors' Portfolios in One ClickCopy For Free

European shares slip after vaccine-driven rally

Published 17/11/2020, 08:23
© Reuters. The German share price index DAX graph at the stock exchange in Frankfurt
BBVA
-
SABE
-
STOXX
-
SXEP
-
SX7P
-
SXTP
-
MRNA
-

(Reuters) - European stocks eased from eight-month highs on Tuesday as tighter coronavirus restrictions across the continent halted a market rally that was powered by encouraging COVID-19 vaccine updates.

The pan-European STOXX 600 index (STOXX) slipped 0.1% by 0808 GMT. It closed at it highest level since Feb. 27 on Monday after positive data from drugmaker Moderna 's (O:MRNA) COVID-19 vaccine.

Near-term economic outlook remains hazy, with Sweden moving to restrict the size of public gatherings as COVID-19 cases spike and a British medical adviser suggesting strengthening the three-tier system of restrictions when the full lockdown in England ends.

European banks (SX7P) retreated after a more than 3% surge. BBVA (MC:BBVA) fell 3.4% after it and smaller rival Sabadell (MC:SABE) said they were in talks to create Spain's second-biggest domestic lender by assets.

© Reuters. The German share price index DAX graph at the stock exchange in Frankfurt

Oil and gas (SXEP) and travel (SXTP) stocks also slipped.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.