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European shares inch higher but set for worst quarter since 2002

Published 03/31/2020, 03:15 PM
Updated 03/31/2020, 03:20 PM
© Reuters.
STOXX
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SX6P
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SXKP
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SX86P
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HFGG
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(For a live blog on European stocks, type LIVE/ in an Eikon
news window)
March 31 (Reuters) - European stocks inched higher on
Tuesday with investors buying into defensive sectors as they
awaited further signs that the economy could weather the fallout
from a near total global shutdown to curtail the spread of the
coronavirus pandemic.
The pan-European STOXX 600 index .STOXX was up 1.1% at
0706 GMT, with real estate stocks .SX86P , utilities .SX6P
and telecoms .SXKP — usually considered stable during
heightened volatility — adding between 0.9% and 1.5%.
Still, the benchmark index was set to end its worst quarter
since 2002, with investor confidence far from stable amid a rout
that erased more than $3 trillion from the value of European
firms in just over a month.
In a bright spot, HelloFresh HFGG.DE jumped 12% to a
record high after the German meal-kit delivery firm forecast
first-quarter revenue above market expectations.

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