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Jan 21 (Reuters) - European shares slipped on Tuesday as
mounting concerns over a new coronavirus originating in China
sparked demand for safe-haven assets.
The outbreak reminded investors of the economic fallout from
the SARS crisis in 2003 that killed nearly 800 people,
especially due to the increased threat of infection as hundreds
of millions travel for the Lunar New Year holidays. The pan-European STOXX 600 .STOXX dropped 0.8% at 0806
GMT, with all major sub sectors in negative territory.
Shares of luxury goods makers - which have large exposure to
China including LVMH LVMH.PA , Kering PRTP.PA , Hermes
HRMS.PA and Burberry BRBY.L - were among the biggest
laggards.
Bank stocks .SXTP slipped about 1% as Switzerland's
largest bank UBS Group AG UBSG.S cut its profitability
targets.