European Stocks Dropping Due to The Fall in Healthcare And Real Estate Sectors

European stocks fell on Wednesday, weighing the defensive losses in front of optimism about encouraging quarterly results for consumer giants Nestlé and Ericsson for telecommunications equipment.

The pan-European STOXX 600 index fell 0.3%, and the healthcare and real estate sectors fell more than 0.5% each.

But stocks that are heavily affected by the economic cycle, such as banks and auto makers, rose as US lawmakers approached an agreement on a new aid package for those affected by the Corona virus.

Nestle shares rose 0.6% after the company raised its forecast for self-growth in sales in 2020, and strong demand for pet food and health products supported the quarterly results.

Sweden’s Ericsson jumped 7.2% as higher margins and China’s launch of 5G networks helped the company beat its base quarterly earnings estimates.