European shares fell on Tuesday as surging U.S. coronavirus cases and forecasts for a deeper-than-feared recession in the euro zone dimmed optimism around a post-pandemic rebound.
European shares closed at their highest in nearly a month on Monday, as upbeat economic data tied in with a rally in China's markets on hopes of recovery from a coronavirus-induced slump.
European stocks fell on Friday after gaining ground during the week as a surge in U.S. coronavirus cases made investors less optimistic about prospects for a rebound in the global economy.
European shares closed at a one-week high on Thursday as hopes of a COVID-19 vaccine and a better-than-expected rebound in U.S. hiring overshadowed concerns about surging coronavirus infections.
Hopes of a COVID-19 vaccine pulled European stocks from losses earlier on Wednesday, after fears of a no-deal Brexit and anxieties relating to the European Union's recovery fund had weighed on sentiment.
European stocks slipped on Tuesday, with banks and energy firms leading the losses at the end of a strong quarter, while UK markets took a hit from a worse-than-expected GDP reading.
European shares ended a volatile session higher on Monday, lifted by strong gains on Wall Street and a rally in cyclical stocks as improving data spurred hopes of a faster economic recovery.