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Nov 10 (Reuters) - European shares hovered at eight-month
highs on Tuesday on optimism around signs of a breakthrough in
developing a COVID-19 vaccine, although concerns about the depth
of the economic damage from the pandemic capped gains.
The pan-European STOXX 600 .STOXX was up 0.2% by 0804 GMT,
after rallying 4% in the previous session, as U.S. drugmaker
Pfizer Inc PFE.N said its COVID-19 vaccine, developed with
German partner BioNTech SE BNTX.O , was more than 90% effective
in preventing the infection. Banking .SX7P , travel and leisure .SXTP , and energy
.SXEP stocks were among the biggest gainers in early trading
following gains of more than 7% on Monday.
In company news, German sportswear firm Adidas ADSGn.DE
fell 2.2% even as it said it expects sales to return to growth
in China in the fourth quarter.