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European shares inch lower; services PMI awaited

Published 05/02/2020, 09:10
Updated 05/02/2020, 09:19
© Reuters.  European shares inch lower; services PMI awaited
SIEGn
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STOXX
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SXPP
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(For a live blog on European stocks, type LIVE/ in an Eikon

news window)

Feb 5 (Reuters) - European shares retreated from recent

gains on Wednesday as concerns over the virus outbreak in China

persisted, while markets also waited for service-sector activity

data from the bloc.

The pan-European STOXX 600 .STOXX index fell 0.2% by 0803

GMT, having recently recovered from a week of heavy selling as

investors gauged the economic fallout from the fast-spreading

coronavirus.

The focus now turns to the January reading for IHS Markit's

services purchasing managers' index, which is expected at 0900

The figure will help gauge the health of the services sector

in the euro zone, which has largely supported business activity

amid a manufacturing slump.

Oil and gas stocks .SXPP were among the worst performing

regional subindexes for the day, losing 0.8%.

German conglomerate Siemens AG SIEGn.DE fell 1% after

posting a weaker-than-expected industrial profit during its

first quarter owing to a broader manufacturing decline.

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