October 14, 2020
(Reuters) – European shares headed lower on Wednesday after tumbling in the previous session over a halt in COVID-19 vaccine trials and uncertainty over more U.S. stimulus, with investors also staying away from big bets ahead of talks on a Brexit trade deal.
The pan-European STOXX 600 <.STOXX> was down 0.2% by 0708 GMT, with travel and leisure <.SXTP> and insurance <.SXIP> stocks leading early declines.
Although trading in most country indexes was muted, a weaker pound lifted London’s FTSE 100 <.FTSE> by 0.2% ahead of a UK-imposed Oct. 15 deadline on Brexit negotiations. Growing political friction about the impact of new local COVID-19 restrictions has also hit sentiment.
The European Union would prefer to have a deal, but it is ready in case no agreement can be reached, the Commissioner for the EU’s single market said.
The Italian bourse <.FTMIB> was flat as Prime Minister Giuseppe Conte imposed new restrictions on gatherings, restaurants, sports and school activities.
(Reporting by Sagarika Jaisinghani in Bengaluru; Editing by Subhranshu Sahu)
