European shares weaken after Wall St rally as growth worries persist

  • Reuters
  • Stock Market News
European shares weaken after Wall St rally as growth worries persist
Credit: © Reuters.

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Aug 19 (Reuters) - European stocks slipped on Wednesday, failing to draw strength from a record run for Wall Street's S&P 500, as investors feared a resurgence in coronavirus cases could dent a nascent economic recovery in the continent.

The pan-European STOXX 600 index .STOXX was down 0.1% by 0715 GMT, with utilities .SX6P , mining .SXPP and oil and gas .SXEP leading losses.

BP BP.L , Total TOTF.PE and Royal Dutch Shell RDSa.L were down between 0.4% and 1% as crude prices slid on concerns about U.S. fuel demand. O/R

Trillions in dollars of stimulus and a rally in technology stocks helped the S&P 500 confirm a bull market on Tuesday, but doubts over the strength of a global recovery from the health crisis limited gains across other markets. GLOB/MKTS

Several countries in Europe imposed fresh travel curbs due to a pick-up in coronavirus cases. utility group RWE RWEG.DE fell 5.2% as it launched a share issue to finance its purchase of wind turbine maker Nordex 's NDXG.DE project development pipeline. group Maersk MAERSKb.CO jumped 5.6% as it reinstated full-year earnings guidance above its previous forecast.

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