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European shares extend rally on vaccine cheer

Published 11/11/2020, 04:15 PM
Updated 11/11/2020, 04:20 PM
© Reuters.
CONG
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STOXX
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SX8P
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SX7P
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(For a Reuters live blog on U.S., UK and European stock
markets, click LIVE/ or type LIVE/ in a news window)
Nov 11 (Reuters) - European shares rose for a third straight
session on Wednesday as optimism around a COVID-19 vaccine
overshadowed concerns about the economic damage from a second
wave of coronavirus infections across the continent.
The pan-European STOXX 600 .STOXX gained 0.4%, building on
a 5% rally this week, as investors bought into banks .SX7P and
travel-related stocks .SXTP , both sectors that have widely
underperformed this year.
Technology stocks .SX8P , which have tracked a surge in
their U.S. counterparts since the coronavirus-driven crash in
March, fell 0.5%.
Dutch bank ABN Amro ABNd.AS dropped 3.4% even after it
beat analysts' expectations, while German auto supplier
Continental CONG.DE slid 1.6% as it warned of further
restructuring expenses in the fourth quarter.

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