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European shares inch lower as BAT, banks weigh

Published 09/06/2020, 08:41
Updated 09/06/2020, 08:42
© Reuters.
UK100
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BATS
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IXIC
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STOXX
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SX8P
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SX3P
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SXDP
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SX7E
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(For a live blog on European stocks, type LIVE/ in an Eikon
news window)
June 9 (Reuters) - European shares inched lower on Tuesday
as declines in UK's British American Tobacco and banking stocks
halted a rally driven by optimism over a global recovery from
the coronavirus crisis.
The pan-European STOXX 600 index .STOXX fell 0.3% by 0729
GMT, with eurozone banks .SX7E down 4.3% after a six-day run
of gains.
Dragging London's FTSE 100 .FTSE lower, British American
Tobacco BATS.L fell 2.8% as it cut its annual adjusted profit
and revenue forecasts, citing the impact of prolonged lockdowns
in South Africa and Mexico. The European benchmark is still hovering near its early
March highs, just 14% below its record high, while Wall Street's
tech-heavy Nasdaq .IXIC closed at an all-time high on Monday,
confirming a return to bull market.
Healthcare stocks .SXDP , technology .SX8P and food and
beverage .SX3P supported markets, rising between 0.6% and
1.6%.

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