European shares slipped on Thursday ahead of Russia-Ukraine talks and the European Central Bank’s policy decision, which could highlight the impact of the conflict on the euro zone economy.
The pan-European STOXX 600 index fell 0.7% by 0819 GMT following a rally in the previous session that saw the benchmark notch its best day since March 2020.
Automakers fell the most, while defensive sectors such as real estate and healthcare posted small losses. Oil stocks also edged up.
Foreign ministers from Russia and Ukraine will meet in Turkey on Thursday in the first high-level talks between the two countries since Moscow invaded its neighbour.
The ECB is likely to make as few policy commitments as possible as the shock of Russia’s invasion of Ukraine upends its expectations for the economy with inflation in the euro zone already at a record high.
Among stocks, Carlsberg slipped 2.5% after Danish brewer suspended its forecast due to uncertainty about the large Russian market and said it had begun a strategic review of its business in the country.
German fashion house Hugo Boss fell 4.0% after announcing a temporary halt to its business in Russia but forecast an upbeat 2022.
French media group Vivendi inched up 0.8% after it reported a doubling in core operating earnings in 2021.
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