European stocks slip as healthcare, real estate sectors weigh

  • Reuters
  • Stock Market News
European stocks slip as healthcare, real estate sectors weigh
Credit: © Reuters.

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Oct 21 (Reuters) - European shares slipped on Wednesday as losses in defensive sectors outweighed optimism over encouraging quarterly results from consumer giant Nestle and telecoms equipment maker Ericsson (BS: ERICAs ).

The pan-European STOXX 600 .STOXX slipped 0.3% by 0711 GMT, with the healthcare .SXDP and real estate .SX86P sectors falling more than 0.5%.

However, economically sensitive cyclical sectors such as banks .SX7P and automakers .SXAP rose as U.S. lawmakers moved closer to deal on a new coronavirus relief package. NESN.S gained 0.6% as it raised its guidance for 2020 organic sales growth, while strong demand for pet food and health products helped quarterly results. in Sweden's Ericsson ERICb.ST jumped 7.2% as higher margins and China's 5G rollout helped the company beat quarterly core earnings estimates.

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