European stocks slip as healthcare, real estate sectors weigh

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The pan-European STOXX 600 (STOXX) slipped 0.3% by 0711 GMT, with the healthcare (SXDP) and real estate (SX86P) sectors falling more than 0.5%.

However, economically sensitive cyclical sectors such as banks (SX7P) and automakers (SXAP) rose as U.S. lawmakers moved closer to deal on a new coronavirus relief package.

Nestle (S:NESN) gained 0.6% as it raised its guidance for 2020 organic sales growth, while strong demand for pet food and health products helped quarterly results.

Shares in Sweden’s Ericsson (ST:ERICb) jumped 7.2% as higher margins and China’s 5G rollout helped the company beat quarterly core earnings estimates.