European stocks soar amid rebounding oil
On Tuesday, European stocks headed north, as a rebound in crude prices spurred energy-related stocks and as markets kept digesting Friday’s downbeat American jobs data.
During European morning trade, the EURO STOXX 50 ascended 0.17%, French CAC 40 gained 0.21%, while German DAX 30 soared 0.28%.
Global stocks strengthened after gloomy American employment data issued last Friday crushed hopes for a rate lift by the Federal Reserve this month.
Meanwhile, energy-stocks were driven as crude prices edged up for a second consecutive trading session after on Monday, Saudi Arabia and Russia agreed to cooperate on stabilizing the energy market.
Total SA, French oil and gas major grew 0.91% and Italian ENI edged up 0.94%, while Russian counterpart Gazprom acquired 0.79%.
Financial stocks traded mostly lower, as French lenders BNP Paribas as well as Societe Generale dropped 0.23% and 0.32% respectively, while German Commerzbank along with Deutsche Bank dipped 0.76% and 1.02% respectively.