LONDON — European stocks were mostly lower on Thursday as global markets pause for breath, awaiting more news on U.S. stimulus measures and coronavirus vaccine approval.
The pan-European Stoxx 600 inched 0.2% below the flatline by late morning, with oil and gas stocks shedding 1.2% while the travel and leisure sector bounced 1.7%.
European markets are following the lackluster trading trend seen elsewhere overnight; U.S. stock futures held steady on Thursday morning as investors awaited news on stimulus negotiations and the vaccine approval process.
On Wednesday, the U.K. became the first country to grant emergency approval to the Covid-19 vaccine from Pfizer and BioNTech. Regulators in the U.S. and Europe are expected to make determinations on that vaccine and a similar vaccine from Moderna soon.
Still, the rollout of the vaccine is expected to take many months as the coronavirus crisis continues to hit hard in the U.S. which now has more than 100,000 patients hospitalized with Covid-19, according to data from the Covid Tracking Project, which is run by journalists at The Atlantic.
In Europe on Thursday morning, the World Health Organization's regional office will hold an update on the pandemic and preparations for coronavirus vaccine.
In Asia-Pacific markets, stocks were little changed in Thursday trade as investors reacted to the release of a private survey on China's services sector activity in November; The Caixin/Markit services Purchasing Managers' Index for November released Thursday came in at 57.8, rising from October's reading of 56.8. PMI readings above the 50 mark signify expansion.
In terms of individual share price movement, Rolls-Royce added 6.8% to lead the Stoxx 600 after Bloomberg reported that the company sees a chance to return to the narrow-body jet market.
At the bottom of the European blue chip index, German software company Nemetschek fell 3.5%.
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- CNBC's Eustance Huang and Jesse Pound contributed to this market report.
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December 03, 2020 at 01:09PM
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European markets mostly lower as global stocks pause for breath - CNBC
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