European shares enter fourth day of declines, energy firms drag

  • Reuters
  • Stock Market News
European shares enter fourth day of declines, energy firms drag
Credit: © Reuters.

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By Sruthi Shankar

July 10 (Reuters) - European shares extended losses for a fourth straight session on Friday on worries that an economic recovery may fizzle out as coronavirus cases continue to rise globally.

The pan-European STOXX 600 index .STOXX slipped 0.4% by 0714 GMT, with energy firms .SXEP sliding 1.4% as oil prices fell on worries of fuel demand. O/R

Other growth-sensitive sectors such as miners .SXPP , insurers .SXIP and banks .SX7P fell between 0.8% and 1%.

The STOXX 600 was headed for a small weekly loss as an early bump from a rally in Chinese equities was offset by fears of more business shutdowns, particularly in the United States where more than 60,500 new COVID-19 infections were reported on Thursday. individual movers, Swiss duty free operator Dufry DUFN.S fell 5.3% after announcing cuts to personnel expenses by 20% to 30% this year as it tackles a plunge in sales caused by the pandemic. genetic testing firm Qiagen QIA.DE rose 3.1% after it reported a 68% rise in quarterly earnings amid strong demand for products used in coronavirus testing.

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