Europe: Shares fall on second virus wave fears

[LONDON] European shares retreated from eight-month highs on Thursday as surging coronavirus infections raised doubts about a quicker economic rebound and overshadowed several upbeat quarterly earnings reports.

The pan-European STOXX 600 index was down 0.7 per cent by 0804 GMT, taking some of the shine off gains of more than 13 per cent this month that had set it on course for its best monthly performance ever.

London's FTSE 100 fell 0.9 per cent as data showed the UK economy grew by a slower than expected 1.1 per cent in September from August, even before the latest restrictions on businesses.

German engineering group Siemens shed 3.4 per cent even as it reported better-than-expected profit at its industrial business in the final set of results overseen by long-standing chief executive Joe Kaeser.

REUTERS