UPDATE 2-European shares down for 4th day on trade worries; Germany outperforms

(For a live blog on European stocks, type LIVE/ in an Eikon
news window)
* Trump says China trade deal may come after 2020 U.S.
election
* Miners, energy stocks lead losses
* German shares lifted by SAP, MTU Aero Engines
* French luxury stocks dented by new tariff threats

(Updates to close, adds comment after Trump signals delay in
China deal)
By Susan Mathew
Dec 3 (Reuters) - European shares wiped gains and ended
lower for a fourth session running on Tuesday as sentiment
worldwide took a hit after U.S. President Donald Trump signalled
delays to reaching a trade deal with China.
London's FTSE .FTSE , packed with trade-sensitive mining
and energy stocks, lost 1.8%%, the most in the region, as
material shares .SXPP lost 1.6%. Weaker crude prices saw oil
shares .SXEP post their biggest one-day drop in a month. O/R
Trump said he had no deadline to strike an agreement with
China, adding it could come after 2020 U.S. elections, denting
hopes of a near-term resolution to a dispute that has weighed on
the world economy. This came amid fears of expanding trade disputes. GVD/EUR
Washington on Monday warned of punitive duties of up to 100%
on $2.4 billion in imports from France, saying its new digital
services tax would harm U.S. tech companies. France and the
European Union (EU) said they were ready to fight back.
Meanwhile, the World Trade Organization's rejection of EU
claims that it did not provide subsidies to Airbus AIR.PA
prompted the United States to say it could raise retaliatory
tariffs on a wider range of European goods.
Airbus shares fell 4.4%.
Along with drops in luxury shares LVMH LVMH.PA , Kering
PRTP.PA and Hermes HRMS.PA , the Paris index .FCHI slid 1%.
Reversing session gains, the pan-European stocks index
.STOXX closed down 0.6%, after logging its worst selloff since
Oct 2. on Monday. "The current sell-off ... is yet another reminder of
market's exceptionally high sensitivity to trade headlines, and
underscores fragility of the latest risk rally," said Marija
Veitmane, a senior strategist at State Street Global Markets.
European shares had rallied over the last three months on
hopes of a U.S.-China trade deal, and some calm on the Brexit
front.
German shares .GDAXI , meanwhile, ended up 0.2% thanks to
rallies in software firm SAP SAPG.DE and MTU Aero Engines
MTXGn.DE which rose after a BoFA Merrill Lynch upgrade to
"buy". Italy's blue-chip index .FTMIB finished marginally higher,
supported by gains in Ferrari RACE.MI after a Goldman Sachs
target price hike and utility Enel ENEI.MI after it made a bid
for Renvico wind farm portfolio in Italy and France.

Among other bright spots, telecom companies Ericsson
ERICb.ST and Nokia NOKIA.HE rose on a media report that said
Washington is considering financial aid to countries that would
source telecoms equipment from firms other than China's Huawei.