European Stocks Declining Under Pressure of Brexit and Virus Concerns

European stocks fell today, Friday, and are heading to conclude a busy week in a state of caution due to concerns about the economic impact of the rise of the Covid-19 pandemic, and the fate of a trade agreement linked to Britain’s exit from the European Union and stalled US stimulus measures.

The pan-European STOXX 600 index fell 0.2%, extending its losses after gloomy economic expectations for 2021 by the European Central Bank caused the index to close lower on Thursday.

The index is heading to halt a series of gains that spanned five weeks as stalled talks between the European Union and Britain raised the prospect of Britain leaving the economic bloc without a trade deal.

Sanofi shares fell 2.1% after it said a possible Covid-19 vaccine developed in cooperation with GlaxoSmithKline showed an insufficient immune response in clinical trials. Glaxo shares were down 0.1%.