European shares slip after vaccine-driven rally

MG News | November 17, 2020 at 01:46 PM GMT+05:00

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November 17, 2020: European stocks eased from eight-month highs on Tuesday as tighter coronavirus restrictions across the continent halted a market rally that was powered by encouraging COVID-19 vaccine updates.

The pan-European STOXX 600 index slipped 0.1% by 0808 GMT. It closed at it highest level since Feb. 27 on Monday after positive data from drugmaker Moderna's COVID-19 vaccine.

Near-term economic outlook remains hazy, with Sweden moving to restrict the size of public gatherings as COVID-19 cases spike and a British medical adviser suggesting strengthening the three-tier system of restrictions when the full lockdown in England ends.

European banks retreated after a more than 3% surge. BBVA fell 3.4% after it and smaller rival Sabadell said they were in talks to create Spain's second-biggest domestic lender by assets.

Oil and gas and travel stocks also slipped.

Reuters

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Name	Price/Vol	%Chg/NChg
KSE100	172,399.90 320.00M	1.59% 2696.30
ALLSHR	103,927.90 888.16M	1.29% 1323.37
KSE30	51,428.16 185.27M	1.65% 836.84
KMI30	246,743.08 136.63M	1.75% 4243.24
KMIALLSHR	67,499.94 461.75M	1.34% 890.73
BKTi	46,974.29 67.03M	1.67% 773.64
OGTi	35,183.53 7.71M	0.85% 295.91

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	65,335.00	65,645.00 63,430.00	1675.00 2.63%
BRENT CRUDE	84.34	85.93 83.51	-2.99 -3.42%
RICHARDS BAY COAL MONTHLY	123.00	0.00 0.00	3.75 3.14%
ROTTERDAM COAL MONTHLY	131.00	0.00 0.00	0.00 0.00%
USD RBD PALM OLEIN	1,157.50	1,157.50 1,157.50	0.00 0.00%
CRUDE OIL - WTI	81.42	82.42 80.25	-3.46 -4.08%
SUGAR #11 WORLD	13.70	13.97 13.68	-0.09 -0.65%