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European stocks slip as healthcare, real estate sectors weigh

Published 21/10/2020, 08:22
© Reuters.
NESN
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ERICb
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STOXX
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SX7P
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SXAP
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SXDP
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SX86P
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(For a Reuters live blog on U.S., UK and European stock
markets, click LIVE/ or type LIVE/ in a news window)
Oct 21 (Reuters) - European shares slipped on Wednesday as
losses in defensive sectors outweighed optimism over encouraging
quarterly results from consumer giant Nestle and telecoms
equipment maker Ericsson.
The pan-European STOXX 600 .STOXX slipped 0.3% by 0711
GMT, with the healthcare .SXDP and real estate .SX86P
sectors falling more than 0.5%.
However, economically sensitive cyclical sectors such as
banks .SX7P and automakers .SXAP rose as U.S. lawmakers
moved closer to deal on a new coronavirus relief package.
Nestle NESN.S gained 0.6% as it raised its guidance for
2020 organic sales growth, while strong demand for pet food and
health products helped quarterly results. Shares in Sweden's Ericsson ERICb.ST jumped 7.2% as higher
margins and China's 5G rollout helped the company beat quarterly
core earnings estimates.

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