European Shares Slip

On Wednesday European shares were lower than usual as investors took stock following a near 14% rally last month, while shares in BioNTech increased after UK became the first country to approve its COVID-19 vaccine developed with Pfizer. London’s blue-chip index surpassed  regional peers, losing just 0.1% after Britain said the vaccine will be released from next week.

BioNtech’s Frankfurt-listed shares jumped 8.4%, while the German DAX fell 0.5% despite data showing a higher-than-expected rebound in retail sales in Europe’s largest economy in October. The STOXX 600 index was down 0.4% with oil stocks leading declines, as crude prices were hit by an unexpected build up in oil inventories in the U.S. and as OPEC and its allies left markets in oblivion about production in January.