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European stock rally pauses as investors await trade details

Published 12/30/2019, 04:26 PM
Updated 12/30/2019, 04:32 PM
European stock rally pauses as investors await trade details
ESLX
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STOXX
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SX6P
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SXDP
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(For a live blog on European stocks, type LIVE/ in an Eikon
news window)
Dec 30 (Reuters) - European shares fell on Monday after a
record-setting run that was fuelled by easing fears of a global
recession and optimism around a U.S.-China trade truce, with
investors now looking for concrete details on the Phase 1
agreement.
The pan-European STOXX 600 index .STOXX was down 0.3% at
0818 GMT, after striking a record closing high on Friday.
Health care .SXDP and utilities .SX6P - commonly
considered defensive stocks - led declines among the major
subsectors.
European stock markets have followed their global
counterparts higher in December as investors cheered the initial
Sino-U.S. trade pact.
But with just two days left until the end of the decade, few
major updates are expected about the finer details of the Phase
1 deal, giving equities little motivation to move much from
current levels.
Among individual stocks, EssilorLuxottica ESLX.PA fell 2%,
as the company said it had discovered fraudulent activity at a
plant in Thailand that was expected to have a negative impact of
190 million euros ($213 million) on the spectacles company.

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