28 Jan 2016
European stocks edge higher, oil shares rally
FXStreet (Mumbai) - The stock markets across Europe swung both ways in early session and are now trading moderately higher on the back of rally in oil shares.
The pan-European Euro Stoxx 50 index was up 0.35% at the time of writing. Germany’s DAX was largely unchanged, while France’s CAC and London’s mining heavy FTSE were up 0.30% each.
Norway’s Seadrill Ltd. and UK’s Tullow Oil Plc strengthened more than 5%. Anglo American reported a 23% rise in the copper output in Q4 and thus its shares rallied 5.4%. Other major gainers were Electrolux AB, Repsol SA.
Oil prices rallied in Europe and currently trade at least 1.5% higher, courtesy of which the energy and mining stocks across Europe advanced.
The pan-European Euro Stoxx 50 index was up 0.35% at the time of writing. Germany’s DAX was largely unchanged, while France’s CAC and London’s mining heavy FTSE were up 0.30% each.
Norway’s Seadrill Ltd. and UK’s Tullow Oil Plc strengthened more than 5%. Anglo American reported a 23% rise in the copper output in Q4 and thus its shares rallied 5.4%. Other major gainers were Electrolux AB, Repsol SA.
Oil prices rallied in Europe and currently trade at least 1.5% higher, courtesy of which the energy and mining stocks across Europe advanced.