European stocks opened slightly lower on Wednesday, just as their counterparts in Asia rebound, despite the coronavirus outbreak.

 The pan-European Stoxx 600 slipped 0.2% in early trade, oil and gas stocks falling 0.7% to lead losses while telecoms added 0.3%.

European markets look set to buck the positive trend seen in Asia on Wednesday where stocks built on gains from the previous session. Chinese mainland markets rose after the first half-hour of trade, with the Shenzhen component index jumping 2.17% and the Shenzhen composite up 2.26%. The Shanghai composite added 1.1%.

Investors are trying to weigh the economic impact of the new coronavirus outbreak. China’s National Health Commission said that as of Tuesday night, a total of 24,324 cases have been confirmed and 490 people have died in the country.

Source: CNBC