FILE PHOTO: The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, February 13, 2020. REUTERS/Staff/File Photo
February 14, 2020
(Reuters) – European shares inched up to a record high on Friday ahead of fourth-quarter GDP data from the EU, while concerns over the coronavirus outbreak eased after the World Health Organization downplayed a recent spike in cases.
The pan-European STOXX 600 index <.STOXX> rose as much as 0.1% to a record high of 431.42, eyeing a second straight week of gains following a relief rally earlier in the week.
Investors were awaiting the European Union’s fourth-quarter GDP flash estimates at 1000 GMT, which are expected to show the European economy barely expanding between October and December amid a manufacturing slump and global trade headwinds.
The virus outbreak could further hurt growth, given China’s position as one of the bloc’s largest trading partners.
Real estate <.SX86P> and utilities <.SX6P> were the best performing European sectors, rising 0.5% and 0.4%, respectively.
(Reporting by Ambar Warrick in Bengaluru; Editing by Shounak Dasgupta)