UPDATE 1-European shares slip as earnings underline coronavirus hit [Reuters]
TOTAL SA (TOT)
Last total sa earnings: 2/7 04:01 pm
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Source: Reuters
European shares slip as earnings underline coronavirus hit (Reuters) - European shares headed lower on Wednesday after a five-day rally as the first batch of earnings reports underlined the business damage from the coronavirus pandemic, while energy stocks sank on worries of a plunge in oil demand. Declines for Total SA ( TOTF.PA ), Royal Dutch Shell Plc ( RDSa.L ) and BP Plc ( BP.L ) sent the European energy index .SXEP to its lowest this month as dire forecasts of the worst economic slump since the Great Depression hit oil prices. [O/R] The pan-European STOXX 600 index was down 1.6%, after surging almost 8% since April 6 on early signs the health crisis was ebbing and on hopes that sweeping lockdown measures would soon be lifted. The benchmark index has recovered about 22% since hitting an eight-year low in March, but is still down about 24% from its record high and analysts warned an uptick in coronavirus cases could spark another sell-off. “With the market outlook still mire
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