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MarketScreener Homepage  >  Indexes  >  Switzerland  >  Euro Stoxx 50       EU0009658145


SummaryMost relevantAll NewsNews of the index componentsMarketScreener Strategies

European shares slip at end of best ever month

11/30/2020 | 12:14pm EST
The German share price index DAX graph at the stock exchange in Frankfurt

(Reuters) - Europe's benchmark stock index posted its biggest monthly gain on record on the prospect of easing coronavirus restrictions and hopes for a COVID-19 vaccine, but ended Monday lower with eyes on the Brexit trade deal negotiations.

Five weeks ahead of the deadline, talks in London between Britain and the European Union over the weekend were "quite difficult" and "massive divergences" remained on the most thorny elements of fisheries, economic fair play and settling disputes, an EU source said.

"While my belief in a deal being reached is still intact, time is fast running out and you have to wonder how long it can go on before we see a wobble in the markets," said Craig Erlam, senior market analyst at OANDA Europe.

London's blue-chip stocks gave up early gains to close down 1.6%, while the pan-European STOXX 600 index lost 1% at the end of a month that saw it surge nearly 14%. [MKTS/GLOB][.L]

The gains were driven by hopes of a more stable U.S. trade policy under Joe Biden's presidency, and promising results for major coronavirus vaccine candidates, with Moderna's application for U.S. and European emergency authorisation on Monday being the latest.

France's CAC 40 jumped 20% this month, while Spain's IBEX and Italy's MIB rose more than 22% each. German shares and UK blue-chips gained more than 12%.

Oil and gas stocks were the biggest decliners in Europe, down 3.4%, with Total SE, BP and Royal Dutch Shell sliding around 5% as crude prices slipped on uncertainty about whether OPEC+ would agree to extend its deep output cuts at talks this week. [O/R]

At the bottom of the STOXX 600 was Dutch bank ABN Amro, down 8.9% after saying it would cut almost 3,000 jobs by 2024.

Siltronic shares, meanwhile, jumped 7.6% after the German silicon wafer maker said it was in advanced talks to be bought by Taiwan's GlobalWafers in a 3.75-billion-euro ($4.5 billion) deal.

Germany's main DAX index gave up its gains at the close, ending down 0.3% with consumer and healthcare stocks leading declines. Data on Monday showed that a newly introduced VAT cut pushed annual consumer prices lower further in November.

(Reporting by Susan Mathew in Bengaluru; Editing by Shounak Dasgupta)

By Susan Mathew

© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
CAC 40 0.10% 5617.27 Real-time Quote.1.09%
DAX 0.44% 13848.35 Delayed Quote.0.94%
EURO / BRITISH POUND (EUR/GBP) -0.04% 0.8889 Delayed Quote.-0.48%
EURO STOXX 50 0.09% 3602.67 Delayed Quote.1.32%
GLOBALWAFERS CO., LTD. -0.76% 657 End-of-day quote.-7.20%
IBEX 35 0.29% 8254.5 Delayed Quote.1.94%
LONDON BRENT OIL 0.40% 54.94 Delayed Quote.9.17%
ROYAL DUTCH SHELL PLC -0.85% 16.648 Real-time Quote.13.92%
SILTRONIC -1.18% 138.35 Delayed Quote.8.00%
STOXX EUROPE 600 0.20% 408.68 Delayed Quote.2.21%
WTI -0.20% 52.185 Delayed Quote.11.60%
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Euro Stoxx 50 Technical Analysis Chart | MarketScreener
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Technical analysis trends EURO STOXX 50
Short TermMid-TermLong Term
Top / Flop EURO STOXX 50
DANONE S.A 54.72 Real-time Quote.2.05%
ING GROEP N.V. 7.969 Real-time Quote.1.57%
IBERDROLA, S.A. 12.05 Real-time Estimate Quote.1.35%
LVMH MOËT HENNESSY - LOUIS VUITTON SE 499.65 Real-time Quote.1.15%
BNP PARIBAS 44.805 Real-time Quote.0.83%
ENGIE 13.485 Real-time Quote.-0.95%
SCHNEIDER ELECTRIC SE 122.75 Real-time Quote.-1.29%
AIRBUS SE 91.19 Real-time Quote.-1.47%
LINDE PLC 258.09 Delayed Quote.-2.12%
AHOLD DELHAIZE N.V. 23.95 Real-time Quote.-3.66%
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