🔥 Premium AI-powered Stock Picks from InvestingPro Now up to 50% OffCLAIM SALE

European stocks rebound as oil, travel stocks jump

Published 01/12/2021, 04:25 PM
Updated 01/12/2021, 04:30 PM
© Reuters.
BP
-
TTEF
-
RENA
-
MAERSKb
-
RDSa
-
KINDsdb
-
STOXX
-
SXEP
-
SXTP
-

(For a Reuters live blog on U.S., UK and European stock
markets, click LIVE/ or type LIVE/ in a news window)
Jan 12 (Reuters) - European stocks steadied on Tuesday after
declining in the last session, as investors looked to the
upcoming earnings season and focused on the prospect of larger
U.S. stimulus under incoming president Joe Biden.
The pan regional STOXX 600 index .STOXX rose 0.4% by 0811
GMT, with the oil & gas .SXEP and travel & leisure .SXTP
sectors climbing more than 1% each to lead the gains.
Investors booked profits on Monday following last week's
rally after a Democrat sweep in the U.S. Senate elections raised
expectations of larger U.S. fiscal stimulus.
Oil majors BP BP.L , Royal Dutch Shell RDSa.L and Total
TOTF.PA gained as crude prices rebounded on expectations of a
drawdown in U.S. crude oil stockpile. O/R
Danish shipping company Maersk MAERSKb.CO rose 2.8% after
brokerage Berenberg upgraded the stock to "buy", saying
earnings momentum driven by freight prices could see the stock
run higher. Swedish online gaming company Kindred KINDsdb.ST jumped 5%
after it reported strong business momentum through the fourth
quarter, while Renault SA RENA.PA rose 1.5% after the French
automaker said its started 2021 with a higher level of orders
than in 2019.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.