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European shares recover, French luxury stocks hit by U.S. tariff threat
Published at 03/12/2019 at 08:32

(For a live blog on European stocks, type LIVE/ in an Eikon news window)

Dec 3 (Reuters) - European shares on Tuesday recovered from two-week lows hit in the previous session, getting a boost from technology and bank stocks, even as investors still grappled with prospects of fresh global trade disputes.

Trade-sensitive German shares climbed 0.7%, although French stocks rose only marginally after U.S. threatened of punitive duties of up to 100% on $2.4 billion in imports from France including Champagne, handbags and cheese.

Shares in luxury stocks LVMH , Kering and Hermes fell about 1.5%.

The broader European stocks index , however, rose 0.5% by 0818 GMT, recovering from a slide to near two-week lows on Monday following U.S. President Donald Trump's move to restore tariffs on metal imports from Brazil and Argentina.

Among the bright spots, Italy's biggest bank UniCredit

rose 1.1% after saying it would buy back its stock this year and shed 9% of staff under a new plan to 2023 to cut costs by 1 billion euros ($1.1 billion) in Western Europe.

(Reporting by Sruthi Shankar in Bengaluru; editing by Uttaresh.V)

((sruthi.shankar@thomsonreuters.com; within U.S. +1 646 223 8780; outside U.S. +91 80 6749 6328;))