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European shares skid as China epidemic fuels economic worry

Published 30/01/2020, 09:19
© Reuters.  European shares skid as China epidemic fuels economic worry
SHEL
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STOXX
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SXEP
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SXPP
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(For a live blog on European stocks, type LIVE/ in an Eikon

news window)

Jan 30 (Reuters) - European shares dropped on Thursday as

concerns mounted about the economic impact of an epidemic in

China that has now claimed 170 lives.

The pan-European STOXX 600 .STOXX dropped 0.9% by 0805

GMT, heading for its sharpest weekly decline in nearly four

months.

All major European subsectors were in the red with miners

.SXPP , which rely heavily on China for their metal exports,

down 1.4%.

The energy index .SXEP slipped 2.2%, pressured by losses

in London-listed shares of Royal Dutch Shell RDSa.L after the

company's quarterly profit missed expectations on weaker oil and

gas prices. After the U.S. Federal Reserve stood pat on interest rates,

as expected, investor attention now shifts to the Bank of

England's decision due later in the day, with expectations of

the first rate cut in more than three years standing at nearly

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