UPDATE 2-European shares end lower on second wave concerns

* Spike in U.S., China COVID-19 cases dims mood
* STOXX 600 falls after two straight days of gains
* Wirecard dives on $2.1 billion missing from cash balances
* Zalando jumps as pandemic boosts online shopping

(Adds comments; updates prices to closes)
By Shreyashi Sanyal
June 18 (Reuters) - European shares closed lower on Thursday
as a spike in COVID-19 cases in China and some U.S. states
triggered fears of a second wave of infections, while a 60%
plunge in Wirecard shares over missing cash balances weighed on
the STOXX 600 index.
Investors scaled back on risk as the daily count of cases
hit new highs in California and Texas, two of the United States'
most populous states, while Beijing ramped up movement curbs.
MKTS/GLOB
"The faster economies reopen, the more likely we will see a
second wave of infections translate into new lockdowns. Hence,
the path over the coming months will be murky," said Hussein
Sayed, chief market strategist at FXTM.
The pan-European STOXX 600 index .STOXX fell 0.7% after
two straight days of gains, as hopes of a swift recovery from
the pandemic-led economic slump were knocked back.
Dragging down the index was Wirecard WDIG.DE , which
plummeted 61.8% after the German payments company's auditor
refused to sign off its 2019 accounts over a missing $2.1
billion as the firm warned the delay could cause billions in
loans to be called in as early as Friday.
Aggressive monetary and fiscal stimulus and less-than-dire
economic data have helped European indexes regain about 36% from
their March lows, but analysts say another wave of infections
could lead to worries of more restrictions and weigh on consumer
behaviour.
"For all the optimism that central bank and government
stimulus will help alleviate more permanent economic scarring,
there is rising concern that any recovery is likely to be less
V-shaped and more a long U-shaped type of rebound," said Michael
Hewson, chief market analyst at CMC Markets UK.
Madrid-listed shares of Siemens Gamesa SGREN.MC tumbled
7.6% after the wind turbine maker replaced Chief Executive
Markus Tacke with Andreas Nauen and warned of an operating loss
in the third quarter late on Wednesday.
German online fashion retailer Zalando ZALG.DE rose 7.1%
to the top of STOXX 600, after forecasting a bigger increase in
sales and operating profit in the second quarter than analysts'
expectations as the pandemic prompts more people to shop
online.
Cyclical stocks led declines, including miners .SXPP which
fell 1.9%.
The European Council is in focus as it meets on Friday to
discuss a recovery proposal by the bloc's executive arm to raise
750 billion euros worth of debt to top up spending from joint
coffers to be worth 1.1 trillion euros in 2021-27.