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European shares weaken after Wall St rally as growth worries persist

Published 08/19/2020, 03:25 PM
Updated 08/19/2020, 03:30 PM
©  Reuters

(For a live blog on European stocks, type LIVE/ in an Eikon
news window)
Aug 19 (Reuters) - European stocks slipped on Wednesday,
failing to draw strength from a record run for Wall Street's
S&P 500, as investors feared a resurgence in coronavirus cases
could dent a nascent economic recovery in the continent.
The pan-European STOXX 600 index .STOXX was down 0.1% by
0715 GMT, with utilities .SX6P , mining .SXPP and oil and gas
.SXEP leading losses.
BP BP.L , Total TOTF.PE and Royal Dutch Shell RDSa.L
were down between 0.4% and 1% as crude prices slid on concerns
about U.S. fuel demand. O/R
Trillions in dollars of stimulus and a rally in technology
stocks helped the S&P 500 confirm a bull market on Tuesday, but
doubts over the strength of a global recovery from the health
crisis limited gains across other markets. GLOB/MKTS
Several countries in Europe imposed fresh travel curbs due
to a pick-up in coronavirus cases. German utility group RWE RWEG.DE fell 5.2% as it launched
a share issue to finance its purchase of wind turbine maker
Nordex 's NDXG.DE project development pipeline. Shipping group Maersk MAERSKb.CO jumped 5.6% as it
reinstated full-year earnings guidance above its previous
forecast.

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