European stocks edge higher, oil shares rally

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Jan 28, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    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.
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