European stock markets traded lower on Tuesday afternoon as the World Economic Forum (WEF) got underway in Davos, Switzerland, after concerns over a new strain of pneumonia in China hit risk assets.
The pan-European Stoxx 600 pared early losses to trade just 0.14% lower to 423.38 by the closing bell. Basic resources were the worst performing stocks, falling 1.2%, while financial services srocks logged 0.6% gains.
Market focus on Tuesday shifted towards the annual WEF event in Davos, where politicians and business leaders gathered.
Climate change and sustainable business will be a key focus for delegates at this year's WEF summit, but other political risks such as international trade and geopolitical instability are likely to be on the agenda as well.
Source : CNBC