Wall Street

European shares edge higher on healthcare lift, weak China data stokes worries

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Reuters UK

By Sruthi Shankar (Reuters) -European shares hovered near two-month highs on Monday, as signs of a slowing Chinese economy prompted investors to turn to defensive sectors such as healthcare and consumer staples typically seen as immune to business cycles. The pan-European STOXX 600 rose 0.4% in morning trade. The benchmark index was trading close to levels needed to recoup all of its June losses when fears about aggressive U.S. interest rate hikes and recession dominated the sentiment. Healthcare stocks provided the biggest boost to European stocks on Monday. AstraZeneca rose 2.4% after the dr…

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