EU stocks start higher on oil rebound
On Thursday, European stocks opened higher following surging oil, and traders focused on a new batch of corporate earnings data.
During European morning session, the Euro Stoxx 50 surged 0.36%, French CAC 40 edged up 0.05%, while German DAX 30 managed to grow 0.14%.
On Thursday, crude prices headed north as wildfire in Canada’s Northern Alberta dared to disrupt the country’s oil output.
Energy stocks traded broadly higher as French gas and oil major Total SA acquired 0.81%, Norwegian Statoli ASA gained 0.29%, Italian ENI SpA went up 2.16%.
Financial stocks earned as French lenders BNP Paribas and Societe Generale surged 0.41% and 0.88%, while German Deutsche Bank ended up +0.07%.
As for peripheral lenders, Italian Unicredit and Intesa Sanpaolo earned 2.71% and 0.37% respectively, while Spanish banks BBVA and Banco Santander soared 0.91% and 1.77% respectively.
By the way, Ferrovial posted a 7.4% drop in core revenue compared to the previous year, while shares of the Spanish infrastructure company went up 0.14%.