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European shares hit record high as rate of new coronavirus cases slow

Published 02/11/2020, 04:21 PM
Updated 02/11/2020, 04:24 PM
European shares hit record high as rate of new coronavirus cases slow
AKRBP
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STOXX
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SXPP
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Feb 11 (Reuters) - European shares rose to a record high
early Tuesday as a slowdown in the rate of new infections in the
coronavirus outbreak provided some relief, although markets
still worried over the wider global economic impact.
The pan-European STOXX 600 index .STOXX rose as much as
0.7% to a record high of 427.46. The index has seen several
volatile weeks after news of the outbreak, as investors weighed
the economic impact and also the effects of liquidity measures
put in place to soften the blow on the world's second-largest
economy.
Record-high overnight finishes on Wall Street, driven by
robust earnings, also lent some support. .N
Basic resources stocks .SXPP were the best performing
European sector, rising 1.7% on an uptick in commodity prices.
Norwegian oil and gas explorer Aker BP AKERBP.OL rose 2.4%
after clocking better-than-expected fourth quarter core
earnings.

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