Europe: Stocks slip as healthcare, real estate sectors weigh

[BENGALURU] 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.

The pan-European Stoxx 600 slipped 0.3 per cent by 7.11am GMT, with the healthcare and real estate sectors falling more than 0.5 per cent.

However, economically sensitive cyclical sectors such as banks and automakers rose as US lawmakers moved closer to deal on a new coronavirus relief package.

Nestle gained 0.6 per cent as it raised its guidance for 2020 organic sales growth, while strong demand for pet food and health products helped quarterly results.

Shares in Sweden's Ericsson jumped 7.2 per cent as higher margins and China's 5G rollout helped the company beat quarterly core earnings estimates.

REUTERS