European shares dip; UK vaccine approval limits losses on FTSE 100

December 2, 2020: European shares slipped on Wednesday as investors took stock following a near 14% rally last month, while shares in BioNTech surged after UK became the first country to approve its COVID-19 vaccine developed with Pfizer.

London's blue-chip index outperformed regional peers, losing just 0.1% after Britain said the vaccine will be rolled out from next week.

BioNtech's Frankfurt-listed shares jumped 8.4%, while Germany's benchmark DAX index fell 0.5% despite data showing a higher-than-expected rebound in retail sales in Europe's largest economy in October.

The pan-European STOXX 600 index was down 0.4% with oil stocks leading declines, as crude prices were hit by a surprise build up in oil inventories in the U.S. and as OPEC and its allies left markets in limbo about production in January.

Reuters

Posted on: 2020-12-02T13:32:00+05:00

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