European stocks go up on OPEC deal

On Thursday, European stocks grew, boosted by news that an output freeze deal was struck by key oil producing countries, while market participants eyed the release of German unemployment as well as inflation data due later in the day.

During European morning trade, the EURO STOXX 50 ascended 1.34%, French CAC 40 gained 1.54%, while German DAX 30 grew 1.17%.

Global equities were bolstered after the Organization of the Petroleum Exporting Countries reported it agreed to diminish output to a range of 32.5-33.0 million barrels per day.

Energy-related stocks were steeply higher. For instance, French oil and gas major Total SA managed to grow 4.86%, Italian ENI added 4.13%, while Norwegian rival Statoil ascended 5.18%.

Financial stocks added to revenues, as French lenders BNP Paribas as well as Societe Generale soared 1.27% and 1.19% respectively, while German Commerzbank along with Deutsche Bank added 0.95% and 0.86% respectively.

In London, commodity-heavy FTSE 100 dared to leap 1.15%, driven by sharp profits in the mining and energy sectors.

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