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European shares enter fourth day of declines, energy firms drag

Stock Markets Jul 10, 2020 15:40
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(For a live blog on European stocks, type LIVE/ in an Eikon
news window)
By Sruthi Shankar
July 10 (Reuters) - European shares extended losses for a
fourth straight session on Friday on worries that an economic
recovery may fizzle out as coronavirus cases continue to rise
globally.
The pan-European STOXX 600 index .STOXX slipped 0.4% by
0714 GMT, with energy firms .SXEP sliding 1.4% as oil prices
fell on worries of fuel demand. O/R
Other growth-sensitive sectors such as miners .SXPP ,
insurers .SXIP and banks .SX7P fell between 0.8% and 1%.
The STOXX 600 was headed for a small weekly loss as an early
bump from a rally in Chinese equities was offset by fears of
more business shutdowns, particularly in the United States where
more than 60,500 new COVID-19 infections were reported on
Thursday. Among individual movers, Swiss duty free operator Dufry
DUFN.S fell 5.3% after announcing cuts to personnel expenses
by 20% to 30% this year as it tackles a plunge in sales caused
by the pandemic. German genetic testing firm Qiagen QIA.DE rose 3.1% after
it reported a 68% rise in quarterly earnings amid strong demand
for products used in coronavirus testing.

European shares enter fourth day of declines, energy firms drag
 

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