European shares rise on vaccine hopes, China knowledge; Brexit talks eyed
© Reuters. The German share price index DAX graph at the stock exchange in Frankfurt
(Reuters) – European shares on Tuesday made a positive start to December, with optimism around a coronavirus vaccine strengthening the case for an economic recovery and priming stocks for an extension of November’s record-breaking gains.
After a day’s dip, when investors took some profits at the end of a spectacular month, the pan-European index was back in the black, up 0.3%.
The index ended November with gains of nearly 14%.
Further bolstering sentiment, a business survey echoed official numbers from a day earlier which showed robust growth in China’s factory activity. Similar data from Europe is due later in the day.
Uncertainties around a Brexit trade deal, however, kept gains in check. The European Union will launch contingency measures on Wednesday or Thursday, if it is unable to reach an agreement by then with Britain, a senior EU diplomat said on Monday.
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