European shares edge lower as virus worries take centre stage

  • Reuters
  • Stock Market News
European shares edge lower as virus worries take centre stage
Credit: © Reuters.

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June 12 (Reuters) - European shares slipped in choppy trading on Friday after their worst one-day sell-off since late March as doubts grew over the pace of economic recovery amid signs of a resurgence in COVID-19 cases.

After swinging either ways, the pan-European STOXX 600 index .STOXX dropped 0.5%, although beaten-up shares of automakers .SXAP gained marginally.

Risk assets took a dive this week as a sober economic outlook from the U.S. Federal Reserve and rising cases in the United States reminded investors that the economic damage from the pandemic is far from over.

The STOXX 600 is on course for a 5.8% weekly loss, distancing itself further from all-time highs. The index stood nearly 19% below Februray peak.

France's Interparfums IPAR.PA surged 11.2% after Italy's Moncler MONC.MI entered an agreement with the company to start selling perfumes.

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