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European Stocks Decline, UK Vaccine Approval Caps FTSE 100 Losses

European Stocks Decline, UK Vaccine Approval Caps FTSE 100 Losses
European Stocks Decline, UK Vaccine Approval Caps FTSE 100 Losses

(Reuters) - European stocks decline Wednesday, while BioNTech (NASDAQ: BNTX) rallies after the UK became the first country to approve its COVID-19 vaccine co-developed with Pfizer (NYSE: PFE).

The pan-European STOXX 600 Index is down 0.4% at 11:14 GMT. At the same time, the oil and gas index became the leader in decline amid falling oil prices.

The London index fell just 0.1% as news of the vaccine limited losses. UK says vaccination campaign will begin next week.

BioNtech shares jump 7.5% on the Frankfurt Stock Exchange.

German DAX fell 0.5% despite data showing better-than-expected growth in retail sales in Europe's largest economy in October.

(Susan Matthew in Bangalore. Translated by Olga Vishnevskaya. Editor Anna Kozlova)

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