European shares retreat from record highs as virus fears grip [Reuters]
Credit Suisse Group American Depositary Shares (CS)
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Source: Reuters
European shares retreat from record highs as virus fears grip (Reuters) - European shares slipped from all-time highs on Friday, as investor sentiment was dulled by underwhelming corporate earnings reports and the rising death toll from the coronavirus outbreak. The pan-European STOXX 600 index fell 0.2%, snapping a four-day winning streak, as the number of deaths from the flu-like virus climbed to 636 and several more companies suspended operations in the country. “We are probably going to see companies caution that sales have been hit as people are not going out to shops to buy and that is going to ripple through,” said David Madden, market analyst at CMC Markets. British fashion brand Burberry Group Plc ( BRBY.L ) fell 1.8% after flagging a slide in demand from China and Hong Kong due to the epidemic. China-exposed sectors such as basic materials, luxury and auto stocks, which have seesawed over the past two weeks on virus fears, were the biggest decliners on the day. [MET/L] [O/
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