Travel stocks weigh on Europe, miners jump

(Reuters) – European shares dipped on Monday, failing to build on gains in Asia as investors focused on the economic risks from an uptick in coronavirus cases in the region, while China-exposed miners gained on fresh stimulus for the world’s second-largest economy.

The pan-European STOXX 600 index slid 0.3% by 0718 GMT, with travel stocks .SXTP continuing to slide after the United Kingdom added France and other countries to its quarantine list last week.

Italy is set to shut discos and clubs and make it compulsory to wear a mask outdoors in some areas in the first reimposition of restrictions as virus cases pick up across the country.

However, European miners .SXPP jumped 0.9%, with Shanghai markets getting a boost after the central bank injected fresh funds into the financial system. [.SS] [GLOB/MKTS]

Among individual movers, luxury group LVMH (LVMH.PA) gained 0.5% after Jefferies upgraded to “buy”, while spirits maker Pernod Ricard (PERP.PA) rose 1.7% after a Barclays upgrade to “overweight.”

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