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Jordan North gives Burnley takeaway a Twitter shout-out
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BBC Radio One presenters visit Blackpool Pleasure Beach
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Greg James has to break out of the Radio 1 Campervan
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3 Min Read
(Reuters) - European shares ended higher on Thursday as a rally in crude prices saw energy stocks surge more than 2%, while strong earnings reports helped dispel some concerns over the infectious “Delta” variant of the coronavirus.
The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, July 1, 2021. REUTERS/Staff
The pan-European STOXX 600 closed 0.6% higher at 455.63 points, with energy stocks marking their best day in one month. Energy services provider TechnipFMC Plc was the top gainer in the sector, adding 4.4%.
Oil prices rose almost $2 on the prospect of increasing global demand, while lower U.S. crude stocks helped. Reuters also reported that OPEC would hike production by less than expected, which could result in a supply shortfall and support oil prices later this year.
Oil rally helps energy stocks lead European shares higher
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