UPDATE 1-European shares dip as business activity data rolls out [Reuters (UK)]
Unilever PLC (UL)
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Source: Reuters
European shares dip as business activity data rolls out - Reuters 3 Min Read (Reuters) - European stock markets erased meagre early gains on Thursday as investors braced for worsening business activity data with the coronavirus outbreak battering the global economy, while Unilever slumped after pulling its full-year forecast. The consumer goods giant ( UNA.AS ) fell more than 5% as it said it could not “reliably assess the impact” of the pandemic on its business, pulling the wider personal goods index .SXQP down 1.1%. The pan-European STOXX 600 index edged down 0.1%, with telecoms .SXQP and the food and beverage .SX3P indexes also among the biggest decliners. Energy .SXEP was a bright spot, jumping 2.6% as oil prices rebounded on signs of production cuts. “With nascent signs the extreme selloff in oil prices is abating, it’s as if someone triggered the quick-release valve on the pressure cooker as the market is starting to feel so much more comfortable in its own skin,” said Stephen
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