The EU - Oil price sharply down, Shell among sacks on Damrak

The EU – Oil price sharply down, Shell among sacks on Damrak

EDF climbed nearly 6 percent after reports that the French government wants to fully nationalize the energy company for more than 8 billion euros.

In Frankfurt, German energy company Uniper, which has turned to the German government for help, closed 0.2 percent higher.

Oil company Shell lost 1.3 percent of its market value on the Amsterdam stock exchange on Tuesday.

The group went down in the wake of the sharply lower oil prices. They fell out of fears of a recession that could put pressure on demand for oil.

Possible new covid lockdowns in China could also lead to lower demand, which did not do oil prices any good.

Shell opened with a profit helped by the buying advice that analysts from ING stuck on the stock.

The final loss of the heavyweight in the AEX index weighed on the leading gauge, which, however, gained 0.1 percent to 669.63 points.

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