{"id":103937,"date":"2021-01-05T10:36:57","date_gmt":"2021-01-05T10:36:57","guid":{"rendered":"https:\/\/fin2me.com\/?p=103937"},"modified":"2021-01-05T10:36:57","modified_gmt":"2021-01-05T10:36:57","slug":"european-stocks-slip-as-defensives-weigh-uk-shrugs-off-latest-lockdown","status":"publish","type":"post","link":"https:\/\/fin2me.com\/markets\/european-stocks-slip-as-defensives-weigh-uk-shrugs-off-latest-lockdown\/","title":{"rendered":"European stocks slip as defensives weigh, UK shrugs off latest lockdown"},"content":{"rendered":"

(Reuters) -European stocks slipped on Tuesday as losses in defensive sectors offset gains in oil and retail stocks, while investors looked past a new national lockdown in Britain to curb a surge in coronavirus cases.<\/p>

FILE PHOTO: The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, January 4, 2021. REUTERS\/Staff<\/figcaption>

The pan-European STOXX 600 index was down 0.2%, following losses in Asia and on Wall Street overnight over worries about Senate runoffs in the U.S. state of Georgia.<\/p>\n

UK\u2019s FTSE 100 rose 0.3%, boosted by oil majors Royal Dutch Shell and BP, as crude prices inched higher with deadlocked talks between major producers about potential changes in February output set to continue. [O\/R]<\/p>\n

The domestically focussed midcap index gained 0.6% as UK\u2019s finance minister Rishi Sunak announced plans to support businesses struggling under a third COVID-19 lockdown.<\/p>\n

\u201cIt doesn\u2019t seem like restrictions have much of an impact as traders are fixated on the wider story that vaccines are being distributed and the world should be in a very different place in another two to four months,\u201d said David Madden, analyst at CMC Markets.<\/p>\n

European stocks rallied to fresh February highs on the first trading session in 2021 on Monday on hopes the vaccines will spur a speedy economic rebound.<\/p>\n

The global mood dampened on Tuesday ahead of the Senate election outcome, which could have a big impact on incoming U.S. President Joe Biden\u2019s ability to pursue his preferred economic policies. [MKTS\/GLOB]<\/p>\n

Stocks considered as safe-havens like utilities, healthcare and food & beverage fell the most among European sectors.<\/p>\n

Germany\u2019s DAX index inched 0.2% lower with the government looking to extend a lockdown, while France\u2019s CAC 40 slipped 0.3%.<\/p>\n

Retailers were a bright spot, with Britain\u2019s Next jumping 8.4% after it said its Christmas sales were much better than expected.<\/p>\n

Shares in Marks and Spencer, Morrisons and Tesco rose between 0.9% and 2.9% after market researcher Kantar said British grocery sales hit a record high in December.<\/p>\n

German chipmaker Dialog Semiconductor PLC gained 3.7% after it gave an upbeat fourth-quarter revenue forecast due to strong demand for 5G phones and tablets.<\/p>\n

ASML rose 0.7% after analysts at RBC and Liberum raised their price targets on the stock.<\/p>\n

Source: Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

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