EUROPEAN SHARES WEAKEN DESPITE WALL STREET RALLY

European stocks slipped on Wednesday, failing to draw strength from a record run for Wall Street’s S&P 500, as investors feared a resurgence in coronavirus cases could dent a nascent economic recovery in the continent.

The pan-European STOXX 600 index was down 0.1% by 0715 GMT, with utilities, mining and oil and gas leading losses.

BP, Total and Royal Dutch Shell were down between 0.4% and 1% as crude prices slid on concerns about US fuel demand.

Trillions in dollars of stimulus and a rally in technology stocks helped the S&P 500 confirm a bull market on Tuesday, but doubts over the strength of a global recovery from the health crisis limited gains across other markets.