European Stocks Slip as Energy, Healthcare Drag; US Shutdown Fears Linger

European Stocks
European Stocks

European Shares Ease on Sector Weakness, US Shutdown Concerns

Singapore: The European shares eased today as heavyweight energy and healthcare stocks lost ground, while investors weighed the potential impact of a US government shutdown that could delay the release of the closely-watched monthly jobs data.

The pan-European STOXX 600 (.STOXX), opens new tab, slipped 0.2% to 554.7 points, though set for its third successful monthly gain and a more than 2% gain for the quarter. Heavyweight oil and gas stocks dipped 0.8%, tracking declining oil prices.

France’s TotalEnergies and UK’s BP fell more than 1% each. Healthcare stocks also shed 0.3%, with Denmark’s Novo Nordisk and the UK’s AstraZeneca down about 1% each. On the economic data front in Europe, the UK economy grew 0.3% in the second quarter, French preliminary inflation stood at 1.1% in September and German retail sales unexpectedly fell in August. Britain’s ASOS slid 11.4%.

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