European stocks fall as healthcare, construction sectors drag

By Sruthi Shankar



a desktop computer sitting on top of a desk: The German share price index DAX graph at the stock exchange in Frankfurt


© Reuters/STAFF
The German share price index DAX graph at the stock exchange in Frankfurt

(Reuters) – European shares fell for a third straight session on Wednesday, as losses in healthcare and construction stocks countered a lift from encouraging earnings from consumer giant Nestle and telecoms equipment maker Ericsson.

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The pan-European STOXX 600 <.stoxx> fell 1.0%, in sharp contrast to Asian markets and Wall Street futures that steadied on hopes of a fresh U.S. stimulus package.

Most European sectors slipped, with healthcare stocks <.sxdp> proving the biggest drag, while banking stocks <.sx7p> were supported by rising U.S. and European government bond yields.

Nestle lifted its 2020 sales forecast following a quarterly beat, but shares inched lower after early gains. Sweden’s Ericsson jumped 5.5% as higher margins and China’s 5G rollout helped the company beat quarterly core earnings estimates.

“Earnings have been generally well above expectations, and guidance has

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