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European stock rally pauses as investors await trade details

Published 30/12/2019, 09:26
© Reuters.  European stock rally pauses as investors await trade details
ESLX
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STOXX
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SX6P
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SXDP
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(For a live blog on European stocks, type LIVE/ in an Eikon

news window)

Dec 30 (Reuters) - European shares fell on Monday after a

record-setting run that was fuelled by easing fears of a global

recession and optimism around a U.S.-China trade truce, with

investors now looking for concrete details on the Phase 1

agreement.

The pan-European STOXX 600 index .STOXX was down 0.3% at

0818 GMT, after striking a record closing high on Friday.

Health care .SXDP and utilities .SX6P - commonly

considered defensive stocks - led declines among the major

subsectors.

European stock markets have followed their global

counterparts higher in December as investors cheered the initial

Sino-U.S. trade pact.

But with just two days left until the end of the decade, few

major updates are expected about the finer details of the Phase

1 deal, giving equities little motivation to move much from

current levels.

Among individual stocks, EssilorLuxottica ESLX.PA fell 2%,

as the company said it had discovered fraudulent activity at a

plant in Thailand that was expected to have a negative impact of

190 million euros ($213 million) on the spectacles company.

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