European stocks rose, paced by energy companies including...
European stocks rose, paced by energy companies including France's oil major Total and BP Plc after oil jumped $4 yesterday.
The Dow Jones Stoxx 600 Index gained 0.3 percent to 295.47 as of 8:55 a.m. in London. The Stoxx 50 rose 0.4 percent, while the Euro Stoxx 50, a benchmark for the 12 nations sharing the euro, added 0.5 percent.
Crude oil for October delivery jumped 7 percent yesterday on the New York Mercantile Exchange, the steepest advance since December 2001. Oil futures, which reached a record $70.85 a barrel on Aug. 30, are 45 percent higher than a year ago. Oil today lost 84 cents to $66.55 a barrel.
All of the 14 Western European markets that were open rose except Austria, Portugal and Denmark. Germany's benchmark DAX Index increased 0.7 percent, with all but three of its members advancing. France's CAC 40 Index gained 0.7 percent, while the U.K.'s FTSE 100 Index added 0.3 percent.
The Stoxx 600 Oil & Gas Index was the best performer among the Stoxx 600's 18 industry groups, rising 1 percent. Total, Europe's third-largest oil company, rose 1.4 percent to 225.9 euros. BP, the region's No. 1 oil company, added 1.1 percent to 672.5 pence.
