BREAKING: European Shares Dip; FTSE 100 Outperforms on U.K. Vaccine Approval
(Reuters) - European shares slipped on Wednesday as investors took stock following a near 14% rally last month, while shares in BioNTech surged after U.K. became the first country to approve its COVID-19 vaccine developed with Pfizer.
London’s blue-chip index outperformed regional peers, up 0.1% after Britain said the vaccine will be rolled out from next week, and as the pound slid on Brexit trade deal uncertainty.
The FTSE 100 has been inching towards pre-pandemic levels, having recovered 60% from March lows.
BioNtech’s Frankfurt-listed shares jumped 7.5%, compared with a 0.5% fall for Germany’s benchmark DAX index.
Data showing a higher-than-expected rebound in retail sales in Europe’s largest economy in October did little to cheer investors.
The pan-European STOXX 600 index was down 0.3%, with auto stocks leading declines as carmaker Volkswagen slipped 2.1% amid uncertainty about top management.
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