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June 18 (Reuters) - European shares retreated at the open on
Thursday as a spike in COVID-19 cases in China and some U.S.
states triggered fears of a second wave of infections, knocking
back hopes of a swift recovery from the pandemic-led economic
slump.
Investors scaled back on risk as the daily count of cases
hit new highs in California and Texas, two of the United States'
most populous states, while Beijing ramped up movement curbs on
Wednesday. MKTS/GLOB
The pan-European STOXX 600 index .STOXX fell 0.4% at 0709
GMT after two straight days of gains, driven by optimism over
global stimulus helping economies claw back from the
coronavirus-led slide.
Oil & gas .SXEP and miners .SXPP led declines among
European sector indexes, while retailers eked out gains at the
open.
German online fashion retailer Zalando ZALG.DE jumped 5.3%
after it said it expected a bigger increase in sales and
operating profit in the second quarter than analysts are
forecasting as the pandemic prompts more people to shop
online.