Company News

European shares fall on second virus wave fears; Siemens slides

(For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window)

Nov 12 (Reuters) - European shares retreated from eight-month highs on Thursday as surging coronavirus infections raised doubts about a quicker economic rebound and overshadowed several upbeat quarterly earnings reports.

The pan-European STOXX 600 index was down 0.7% by 0804 GMT, taking some of the shine off gains of more than 13% this month that had set it on course for its best monthly performance ever.

London’s FTSE 100 fell 0.9% as data showed the UK economy grew by a slower than expected 1.1% in September from August, even before the latest restrictions on businesses.

German engineering group Siemens shed 3.4% even as it reported better-than-expected profit at its industrial business in the final set of results overseen by long-standing Chief Executive Joe Kaeser. (Reporting by Sagarika Jaisinghani in Bengaluru; Editing by Bernard Orr)