(Reuters) – European shares plummeted Tuesday as a recent rally erupted in hopes of a faster global economic recovery and a cooling signal vaccine release, while shares in France’s main oil price rose after earnings has to recover in the fourth quarter.
Total SE rose 1.1% after the company said its earnings recovered in the fourth quarter as oil prices stabilized, although a blow from writedowns hit assets as a result of the COVID outbreak. 19 e to a net loss of $ 7.2 billion for 2020 as a whole.
The STOXX 600 index fell 0.2%, after gaining nearly 4% so far this month against a steady worldwide backlog of vaccines and a major stimulus package is expected to pass. soon by U.S. lawyers.
Germany’s DAX index was down 0.2% even as data showed that German exports rose in December as strong trade helped China and the United States.
Reporting by Shreyashi Sanyal in Bengaluru; Edited by Shounak Dasgupta