European shares extend losses as virus worries offset vaccine cheer

European stocks slipped on Wednesday as worries about further economic damage and fresh lockdown measures caused by a resurgent pandemic dented recent optimism over promising vaccine trial results.

The pan-European STOXX 600 (STOXX) extended losses for a second session after dropping 0.4% by 0805 GMT.

Real estate (SX86P) and energy stocks (SXEP) fell the most, while tech stocks (SX8P) advanced.

Britain’s RSA Insurance (L:RSA) rose 3.8% to the top of the STOXX 600 index after the company said it had received a cash offer worth 7.2 billion pounds ($9.55 billion) from Canadian peer Intact Financial (TO:IFC) and Danish insurer Tryg (CO:TRYG).

Deutsche Boerse (DE:DB1Gn) gained 0.8% after the German stock exchange operator said it would acquire an 80% stake in corporate governance adviser Institutional Shareholder Services (ISS) for about $1.8 billion.