Breaking News
Ad-Free Version. Upgrade your experience. Save up to 40% More details

European shares dip after strong rally, Total rises

Stock MarketsFeb 09, 2021 04:30AM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
© Reuters. The German share price index DAX graph is pictured at the stock exchange in Frankfurt

By Shreyashi Sanyal

(Reuters) - European shares dipped on Tuesday as a recent rally powered by hopes of a swifter global economic recovery and vaccine roll-outs showed signs of cooling, while shares in French oil major Total rose after its earnings recovered in the fourth quarter.

Total SE rose 1.9% after the company said its earnings recovered in the fourth quarter as oil prices stabilised, although a hit from writedowns on assets due to the COVID-19 pandemic plunged it to a $7.2 billion net loss for 2020 as a whole.

The STOXX 600 index fell 0.1%, after gaining nearly 4% so far this month against the backdrop of steady vaccine roll-outs globally and expectations that a massive stimulus package will soon be passed by U.S. lawmakers.

Early trading showed European defensive sectors including food & beverage, personal & household and healthcare among top gainers.

However, analysts say international investors are looking towards European equities as an attractive investment with corporate earnings showing signs of improvement and on multi-billion dollar deal-making activity recently.

"There is this view that Europe is getting a bump in business investment which I think is right, because when that consumer spending is unleashed, it will lift corporate profits, which have so far been the field indicators of business investments," said Mike Bell, global market strategist at J.P. Morgan Asset Management.

Germany's DAX index was down 0.2% even as data showed German exports rose in December as robust trade with China and the United States helped.

HeidelbergCement (DE:HEIG) gained 0.4% after the world's No.2 cement maker identified five assets to sell in a review of its business and had a good start to 2021, its chief executive officer told Reuters.

Nestle rose 0.5% after the company said its Gerber baby cereal products made and sold in China are safe and it had reported to authorities an association that advised its members, in a post on social media, to stop selling the products.

French reinsurer Scor rose 2.8% on reporting a rise in its renewals of contracts and premiums, and added it was sticking to its earlier financial targets for growth and profits.

TUI Group shed 0.6% after the world's biggest holiday company sunk to a 699 million euros ($844 million) loss in its first quarter.

European shares dip after strong rally, Total rises

Related Articles

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: 

  • Enrich the conversation
  • Stay focused and on track. Only post material that’s relevant to the topic being discussed.
  • Be respectful. Even negative opinions can be framed positively and diplomatically.
  •  Use standard writing style. Include punctuation and upper and lower cases.
  • NOTE: Spam and/or promotional messages and links within a comment will be removed
  • Avoid profanity, slander or personal attacks directed at an author or another user.
  • Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at’s discretion.

Write your thoughts here
Are you sure you want to delete this chart?
Post also to:
Replace the attached chart with a new chart ?
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
Are you sure you want to delete this chart?
Replace the attached chart with a new chart ?
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Continue with Google
Sign up with Email