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European shares pull back from 3-month highs after rally

Published 06/08/2020, 03:28 PM
Updated 06/08/2020, 03:30 PM
© Reuters.
BP
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SHEL
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TTEF
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WDIG
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GILD
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AZN
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IXIC
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SXRP
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STOXX
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SXDP
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SXQP
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(For a live blog on European stocks, type LIVE/ in an Eikon
news window)
June 8 (Reuters) - European shares retreated from
three-month highs on Monday, as investors locked in some profits
following a strong rally last week on hopes of a
post-coronavirus recovery.
The pan-European STOXX 600 .STOXX declined 0.8% by 0709
GMT, led lower by personal and household goods .SXQP ,
healthcare .SXDP and retail .SXRP sectors.
The pull back came after U.S. tech-heavy Nasdaq .IXIC
breached its intraday record high on Friday and the STOXX 600
closed 14% below its all-time high as improving economic data
and fresh stimulus measures lent weight to hopes that the worst
is behind.
AstraZeneca AZN.L slipped 1.8% after Bloomberg reported
it had approached U.S. rival Gilead Sciences GILD.O about a
possible merger to form one the world's largest drug companies.
German card payments company Wirecard WDIG.DE dropped 4.1%
after prosecutors opened proceedings against its entire
management board as part of a market manipulation probe.
Oil majors Royal Dutch Shell RDSa.L , BP BP.L and Total
TOTF.PA rose between 0.5% and 3% as crude prices climbed after
major producers agreed to extend a deal on record output cuts.
O/R

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