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The pan-European STOXX 600 index was down 0.2% by 0811 GMT, after marking its fifth straight weekly gain on Friday.
Asian stocks fell 1.3% as investors fretted about the economic fallout from fresh COVID-19 restrictions in China, with Beijing’s most populous district urging residents to stay at home as COVID-19 cases rose.
Miners, travel & leisure, and industrial goods and services fell between 0.5% and 1.4%, leading losses among European sectors.
Defensive sectors such as healthcare and utilities rose in early trading.
Julius Baer slipped 0.5% even as the bank said it was on track to reach its 2022 profitability targets despite “challenging market” conditions taking a big bite out of its assets under management.
HelloFresh rose 5.4% after Goldman Sachs (NYSE:GS) started coverage on the German meal-kit maker with “buy” rating.
