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Tech stocks nudge European shares higher, virus woes limit gains

Published 11/26/2020, 04:21 PM
Updated 11/26/2020, 04:30 PM
© Reuters.
ULVR
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FTMC
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STOXX
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(For a Reuters live blog on U.S., UK and European stock
markets, click LIVE/ or type LIVE/ in a news window)
Nov 26 (Reuters) - European shares inched higher in early
trade on Thursday, but gains were limited as an extension of
coronavirus restrictions in Germany and grim economic growth
forecasts for the United Kingdom dented sentiment.
The pan-European STOXX 600 .STOXX rose 0.1%, with tech
.SX8P and healthcare .SXDP sectors leading gains. The
benchmark index ended a four-day winning streak in the previous
session as investors cashed in on gains after a vaccine-fuelled
rally.
Chancellor Angela Merkel said on Wednesday Germany will
extend restrictive measures imposed early this month to rein in
a second wave that is sweeping much of Europe, until at least
Dec. 20, as COVID-19 infection numbers remained
high. UK's domestically exposed stocks .FTMC stabilised after a
sell off in the previous day, as Finance Minister Rishi Sunak
warned the economy was on course to shrink by 11.3% this year
and unveiled plans to borrow amounts not seen before in
Britain's peacetime. Trading volumes are expected to be thin in light of the
Thanksgiving holiday in the United States.
In company news, consumer goods group Unilever ULVR.L rose
1.5% on agreeing to buy U.S.-based vitamin company SmartyPants
Vitamins.

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