European shares falter as coronavirus toll in China jumps
(Reuters) – European shares pulled back from record highs on Thursday as a surge in new coronavirus cases in China surprised investors who were hoping that the outbreak had peaked.
The pan-European STOXX 600 index () fell 0.4% by 0803 GMT. The index had notched new highs in the last two sessions on optimism over what appeared to be a decline in new cases of infection in China.
But a jump in new cases after China deployed a new diagnostic method and a record rise in the death toll swiftly subdued risk appetite.
European sectors with heavy exposure to China, such as basic resources () and automobile stocks () fell 0.9% and 1.1%, respectively.
Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.