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European shares edge up to record high as new coronavirus cases drop

Published 02/12/2020, 04:16 PM
Updated 02/12/2020, 04:24 PM
European shares edge up to record high as new coronavirus cases drop
STOXX
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SXAP
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SXPP
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(For a live blog on European stocks, type LIVE/ in an Eikon
news window)
Feb 12 (Reuters) - European shares inched to a record high
on Wednesday as a drop in the number of new coronavirus cases
soothed nerves, even as investors kept a wary eye on the
outbreak's economic impact.
The pan-European STOXX 600 index .STOXX rose as much as
0.2% to a second consecutive record high of 429.42. A drop in
new virus cases on Tuesday, as well as optimism over liquidity
measures in China, had seen gains in China-sensitive stocks.
The country earlier on Wednesday reported its lowest number
of new infections since late-January, leading many to believe
that the outbreak, which caused widespread disruptions in one of
Europe's biggest trading partners, could have peaked.
Basic resources .SXPP and automobile stocks .SXAP , which
depend heavily on Chinese demand for their exports, rose about
0.7% and 1%, respectively.

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