(Reuters) – European shares slipped on Wednesday, with investors on edge as fears of a recession picked up steam, although the losses were limited by strength in the healthcare sector.
The region-wide STOXX 600 index was down 0.2% at 0813 GMT, taking cues from a dismal trading session on Wall Street overnight after big U.S. banks cautioned of a likely recession next year.
The index fell for a fourth straight session after a recent rally off October lows, driven by hopes of a less aggressive monetary policy approach from the U.S. Federal Reserve and other major central banks.
Miners fell 1.4%, leading declines on the STOXX 600, followed by the energy sector, which shed about 1%.
However, in a bright spot, healthcare rose 1.4%. GSK Plc and Sanofi, which jumped 13.8% and 8.1% respectively, boosted the index after the drugmakers on Tuesday were spared thousands of U.S. lawsuits claiming that the heartburn drug Zantac caused cancer.
Airbus fell 1.8% as the world’s largest planemaker abandoned a numerical forecast for jet deliveries and a date for its key production goal though it maintained financial targets.
(Reporting by Amruta Khandekar; editing by Uttaresh.V)
