After Strong Rally European Shares Dip

On Tuesday European shares dipped 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 1.1% after the company confirmed its earnings recovered in the fourth quarter as oil prices stabilized, although a hit from write downs 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 0.2%, 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. The German Index was down 0.2% even as data showed German exports rose in December as robust trade with China and the United States helped.