European stock markets ended the day broadly flat in sharp contrast to Monday’s record nine and ten per cent gains. Royal Dutch Shell and BP slipped more than 3 per cent at one point helping wipe out gains in London which closed 0.4 per cent down.
In France, GDF-Suez warned that fourth quarter results will be damaged by French regulated gas prices. Stock in the world’s second largest utility fell 2.7 per cent. In Paris, the CAC 40 lost one and a quarter per cent.
In Frankfurt, the DAX ended unchanged.
A barrel of Brent crude oil gained 4.5 per cent in value to trade at more than 52.50 dollars.