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May 19 (Reuters) - European shares extended gains on Tuesday
as fresh stimulus plans for the European Union added to hopes of
a faster economic recovery from a coronavirus-fuelled downturn.
The pan-European STOXX 600 .STOXX rose 0.16% by 0716 GMT,
with German stocks .GDAXI leading regional gains with a 0.9%
rise.
Euro zone stocks .STOXXE gained 0.4% after France and
Germany proposed a 500 billion euros recovery fund on Monday
that would offer grants to European Union regions and sectors
hit hardest by the pandemic. That supported sentiment after the STOXX 600 saw its best
performance since March 24 in the previous session after an
encouraging report on a potential COVID-19 vaccine and on easing
of lockdowns across several countries.
Struggling German industrial company Thyssenkrupp AG
TKAG.DE jumped 6.2% said it was looking for partners for its
steel and warship divisions. French spirits company Remy Cointreau SA RCOP.PA dropped
6% after Goldman Sachs downgraded its shares to "neutral" from
"buy".