BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - European stocks fell broadly on Wednesday despite a series of positive vaccine developments and increased expectations of a fiscal stimulus package in the U.S.
The pan European Stoxx 600 was marginally lower at 391.54 after rising 0.7 percent on Tuesday.
The German DAX slipped 0.3 percent and France's CAC 40 index eased 0.2 percent while the U.K.'s FTSE 100 was rising 0.2 percent on the back of a weaker pound amid uncertainty over the dwindling time for a Brexit deal.
Banks and automakers led losses after British Prime Minister Boris Johnson's Brexit supremo, Michael Gove, said on Tuesday that there was a chance that Brexit trade talks may end without a deal. Deutsche Bank, BNP Paribas, BMW, Volkswagen and Peugeot fell 1-2 percent.
Tesco shares fell 1.2 percent. The British retailer announced its decision to repay to the U.K. government and the Devolved Administrations the 585 million pounds of business rates relief received in respect of the Covid-19 pandemic.
Centamin dropped more than 1 percent. The gold miner said that it targets US$100 million reduction in the gross annual cost base by 2024.
BioNTech SE shares jumped nearly 7 percent after the U.K. approved its Covid-19 vaccine developed with Pfizer.
Swiss drug maker Roche Group gained 0.7 percent after it received FDA emergency use authorization for a new test to detect antibodies against the SARS-CoV-2 spike protein.
BP Plc and Royal Dutch Shell were gaining ground despite oil prices moving lower amid a surprise build up in oil inventories in the U.S. and heightened uncertainty over the OPEC group delaying its planned output increase.
In economic releases, German retail sales grew more than expected in October, data released by Destatis revealed.
Retail sales increased 2.6 percent on a monthly basis, reversing a 1.9 percent drop in September. Sales were expected to climb only 1.2 percent.
Year-on-year, retail sales surged around 8.2 percent in October, bigger than the economists' forecast of 5.9 percent.
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