© Reuters. FILE PHOTO: Germany’s stock index DAX graph is displayed on the stock market in Frankfurt, Germany, November 18, 2022. REUTERS/Staff
(Reuters) – European shares fell on Monday, with sectors with financial problems such as miners and industrials taking losses on worries of a surge in COVID-19 cases in China.
The pan-European index was down 0.2% by 0811 GMT, after posting its fifth weekly gain on Friday.
Asian shares fell 1.3% as investors worried about the economic fallout from China’s new COVID-19 restrictions, with the most populous district in Beijing urging people to stay at home as COVID-19 cases rise.
Mining, travel & leisure, and industrial goods and services fell between 0.5% and 1.4%, leading to losses among European sectors.
Defensive sectors such as health care and utilities rose in early sales.
Julius Baer fell 0.5% even though the bank said it was on track to meet its 2022 profit target even as a “difficult market” weighed on its managed assets.
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