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MARKETS LIVE BLOG:

STOCKS SHED GAINS, TESLA SURGES DAY AFTER EARNINGS

Tesla shares jump after EV maker vows to speed up launch of more affordable models

European shares rise on vaccine hopes, China data; Brexit talks eyed

Reuters
·1 min read

(For a live blog on European stocks, type LIVE/ in an Eikon news window)

Dec 1 (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 STOXX 600 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. (Reporting by Susan Mathew in Bengaluru; Editing by Shounak Dasgupta)