for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up
Company News

European shares extend rally on vaccine cheer

(For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window)

Nov 11 (Reuters) - European shares rose for a third straight session on Wednesday as optimism around a COVID-19 vaccine overshadowed concerns about the economic damage from a second wave of coronavirus infections across the continent.

The pan-European STOXX 600 gained 0.4%, building on a 5% rally this week, as investors bought into banks and travel-related stocks, both sectors that have widely underperformed this year.

Technology stocks, which have tracked a surge in their U.S. counterparts since the coronavirus-driven crash in March, fell 0.5%.

Dutch bank ABN Amro dropped 3.4% even after it beat analysts’ expectations, while German auto supplier Continental slid 1.6% as it warned of further restructuring expenses in the fourth quarter. (Reporting by Shashank Nayar in Bengaluru; editing by Uttaresh.V)

for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up