European shares break 5-week winning streak; Sanofi down on vaccine delay
European shares slipped on Friday, ending an action-packed week on a somber note on worries over the economic impact of the resurgent COVID-19 pandemic and the fate of a Brexit trade deal, according to Reuters.
The pan-European STOXX 600 index slid 0.8%, extending losses after a dour 2021 economic forecast from the European Central Bank pushed it into the red on Thursday.
The index broke a five-week winning streak, falling 1%, as stalemate in talks between the European Union and Britain raised chances of Britain exiting from the bloc without a trade deal.
Investors will be watching for Brexit updates with a Sunday deadline for a last ditch attempt at a deal to govern around $1 trillion in annual trade, currently free from tariffs and quotas.
As European bond yields dipped, banks continued their slide. Spain’s lender-heavy main index dropped 1.5%.
Source: Saudi Press Agency