Stocks slip on fears over EU stimulus package

The European stock rally has stalled this week, after bouncing from a March low amid monetary and fiscal support and optimism over the slowing rate of infections in a number of countries.

European stocks ended lower, snapping two days of gains, after the region’s leaders failed to agree on a long-term stimulus package and reports of a failed Covid-19 drug trial weighed on sentiment.

The Stoxx Europe 600 Index fell 1.1% on the day, posting its first weekly drop in three weeks.