European stocks gained as oil prices eased. Shares of such companies as Air France and British Airways Plc rose, up 1.2 percent to 13.05 euros, and 2.2 percent to 211 pence, correspondingly.
According to the conclusion of ING Investment Management analyst, when the oil price falls, it has a positive effect on the stock market.
The Dow Jones Stoxx 600 Index climbed 0.6 percent to 240.83 as of 8:03 a.m. in London. The Stoxx 50 and the Euro Stoxx 50, a benchmark for the 12 countries using the euro, advanced 0.7 percent.
Oil prices tumbled Wednesday after concerns over tight crude supplies declined slightly amid a great increase in US inventories of crude oil. US light crude dropped $2.47 or 4.5 per cent to $52.70 a barrel on the NYMEX. London?s Brent dropped $2.06 to $49.50 after briefly touching a record peak at $51.94 a barrel on the IPE.
Royal Dutch/Shell Group, Europe's second-largest oil company increased 1.7 percent to 43 euros. The oil producer said it plans to unify boards and become one listed company. Royal Dutch Petroleum Co. owns 60 percent of the group and Shell Transport & Trading Co. owns the rest.
