European Stocks Retreat as BlackRock Cuts on Virus Restrictions

European stocks erased earlier gains as data signaled that the euro area is slipping into another contraction and as BlackRock Inc.’s strategists cut the region’s equities to underweight.

The Stoxx 600 benchmark fell 0.2% by the close in London after climbing as much as 0.9%. The rotation into laggard sectors continued as cyclical industries including energy, banks and miners led risers, while haven sectors such as personal care and health care retreated.