BREAKING: European Shares Move Little as Focus Turns to Economic Damage from COVID

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BREAKING: European Shares Move Little as Focus Turns to Economic Damage from COVID

(Reuters) - European shares moved little on Thursday as an extension of coronavirus restrictions in Germany and a grim growth forecast for the United Kingdom brought the focus back to the near-term economic damage caused by the COVID-19 pandemic.

The pan-European STOXX 600 index ended down 0.1%, with gains in tech and healthcare offset by declines in automobile and energy shares.

A second wave of coronavirus infections coupled with rising COVID-19 related deaths continues to sweep across Europe, prompting Germany, France and the United Kingdom to once again impose tough curbs, dealing a heavy blow to business activity as restaurants, gyms and shops remained closed.

The benchmark STOXX 600 index is however still on course for its best month on record and market participants expect European equities to touch record highs next year, following promising vaccine trial results from three major drugmakers.

British shares were the worst hit with the benchmark FTSE 100 index down 0.4% after health minister Matt Hancock announced that several parts of England will be forced to live under the toughest category of COVID-19 restrictions when a national lockdown ends on Dec 2.

Original article:

https://www.reuters.com/articl...

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