European stocks slip into losses as focus remains on pandemic and economic recovery

European stocks cut into earlier losses on Monday afternoon as markets weigh an economic recovery from the coronavirus pandemic and ongoing global protests against racism.

The pan-European Stoxx 600 hovered 0.2 percent below the flatline in afternoon trade. Autos and banks jumped more than 2 percent to lead gains while financial services stocks slid 1.7 percent.

In terms of individual share price action, German pharmaceutical and laboratory equipment supplier Sartorius saw its shares slide 10.6% to the bottom of the Stoxx 600 in early deals, while cruise operator Carnival jumped 14% to lead the European blue chip index.