REFILE-European stocks head lower, LVMH shines after earnings

  • Reuters
  • Stock Market News
REFILE-European stocks head lower, LVMH shines after earnings
Credit: © Reuters.

(Corrects to 'tally' from 'rally' in the fourth paragraph)

Jan 27 (Reuters) - European stocks slid on Wednesday, weighed down by concerns about a slow economic recovery, while most investors kept to the sidelines ahead of the U.S. Federal Reserve's policy decision.

The pan-European STOXX 600 index .STOXX dropped 0.4% in early trading, following losses in Asian markets and Wall Street.

Microsoft's MSFT.O bumper results did little to help Europe's tech sector .SX8P , which dropped 1.3%, while miners .SX8P , oil & gas .SXEP and banks .SX7P fell close to 1% each.

Global coronavirus cases surpassed 100 million, according to a Reuters tally, and Europe - the worst-affected region in the world - is currently reporting a million new infections about every four days. metal miner Fresnillo Plc FRES.L slid 3.1% after it forecast lower gold output for the current year. products maker Essity ESSITYb.ST slipped 0.6% despite reporting a smaller-than-expected drop in quarterly operating profit. luxury group LVMH LVMH.PA rose 1.4% as booming sales at fashion brands like Louis Vuitton, particularly in China, helped to cushion the impact of the coronavirus pandemic. Kering PRTP.PA gained 1%.

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