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April 8 (Reuters) - European shares dipped on Wednesday
following a two-day rally, as the number of coronavirus deaths
rose again in Spain, while France became the fourth country to
report a death toll of more than 10,000.
Britain's biggest retailer Tesco TSCO.L slumped 7% to the
bottom of the STOXX 600 after saying it expected to take a hit
of up to 925 million pounds ($1.1 billion) from
coronavirus-related costs. The pan-European STOXX 600 index .STOXX was down 0.9% at
0703 GMT, after a strong start to the week on hopes that
infections were plateauing in the worst hit parts of Europe and
the United States. The benchmark index has gained about 20% since hitting an
eight-year low on March 16, powered by aggressive global
stimulus measures, but remains 25% below its all-time high with
sentiment being driven by progress to contain the pandemic.
London's FTSE 100 .FTSE fell 1.2%, as the country's
coronavirus death toll crossed 6,100, while Germany's DAX
.GDAXI shed 0.8% after rallying more than 8% in the past two
days.
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European shares retreat after two-day rally as Tesco slumps
Published 04/08/2020, 03:15 PM
Updated 04/08/2020, 03:20 PM
European shares retreat after two-day rally as Tesco slumps
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