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European stock markets rose on Monday, tracking gains in Asian and US equity markets, while Finland’s Neste Oil outperformed after raising its guidance.
Britain’s blue-chip FTSE 100 index advanced by 0.7 per cent, Germany’s DAX progressed by 0.8 per cent, France’s CAC rose 0.8 per cent, while the pan-European FTSEurofirst 300 index also climbed 0.6 per cent.
Neste Oil was among the best-performing stocks in the region, rising by 3.5 per cent after the company lifted its full-year profit guidance by about 37.5 per cent.
Energy stocks also fared well, with the STOXX Europe 600 Oil & Gas Index rising 2.1 per cent as Brent crude oil futures rose more than 2 per cent towards $63 a barrel.
Securequity sales trader Jawaid Afsar expected European stock markets to continue to rise going into the end of 2014.
“Markets are expected to drift higher as volumes thin out and we head into year-end. Stronger US and Asian markets are also helping as oils and miners lead the rally,’’ he said.
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