European stocks fall on caution over anti-COVID trials and US package

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European stocks fall on caution over anti-COVID trials and US package




FILE PHOTO: The graph of the German DAX stock index inside the Frankfurt Stock Exchange


© Reuters/STAFF
FILE PHOTO: The graph of the German DAX stock index inside the Frankfurt Stock Exchange


Oct 14 (Reuters) – European stocks fell on Wednesday after losing steam in the previous session due to a pause in clinical trials of an anti-COVID-19 vaccine and uncertainty about greater fiscal stimulus in the United States, as investors they were also staying away from risk positions ahead of talks on a Brexit deal.

The pan-European STOXX 600 Index was down 0.2% at 0708 GMT, with the travel and leisure sector and insurance companies leading the first declines.

Although most of the squares fell, the depreciation of the pound propelled the FTSE 100 by 0.2%, on the eve of the deadline imposed by the United Kingdom for the Brexit negotiations to be completed. Growing political friction over the impact of the new local COVID-19 restrictions also advised caution. [.L]

EU Single Market Commissioner Thierry Breton said the European Union would prefer to have a Brexit deal, but is ready in case a deal cannot be struck. The Italian stock market was flat after Prime Minister Giuseppe Conte imposed new restrictions on meetings, restaurants, sports and school activities.

(Information from Sagarika Jaisinghani in Bengaluru; edited by Subhranshu Sahu, translated by Michael Susin in the Gdansk newsroom)

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