European shares lifted by bounce in oil prices, dealmaking

Reuters Milan | Updated on January 11, 2018 Published on May 15, 2017


European shares rose on Monday helped by a bounce in oil prices and fresh dealmaking activity, while a global hacking attack boosted the shares of software security firms.

The pan-European STOXX 600 index rose 0.2 per cent, hovering around its highest levels in 21 months, while Germany's DAX was up 0.3 per cent after hitting a fresh record high. UK's FTSE added 0.3 per cent.

Oil prices jumped after the energy ministers of the world's two biggest producers Saudi Arabia and Russia jointly said that a crude production cut would be extended.

That helped commodity-related stocks with the Basic Resources and Oil indexes up 1 and 0.8 per cent, respectively.

Italian motorway company Atlantia was among the top gainers in Europe, up 3 per cent, after it launched a 16 billion euro bid for Spanish rival Abertis, whose share were little changed.

London-listed shares in cloud network security firm Sophos jumped as much as 3.6 per cent to a record high, as cybersecurity stocks were in demand after a global “ransomware" attack disrupted car factories, hospitals, shops and schools around the world.

Published on May 15, 2017
This article is closed for comments.
Please Email the Editor