European Stocks Rise, Bolstered by Oil Moves

European stocks climbed Friday and energy shares spearheaded the move higher as oil prices gained.

Equities were able to hold to gains while the euro fell after German inflation data missed expectations.

The Stoxx Europe 600 moved up 1.5% to 331.37 as all but the telecom sector advanced. The index’s move comes on the heels of Thursday’s 2% jump.

Holding down the bottom end of the index was Royal Bank of Scotland as shares stumbled 8.2%. The bank delayed making dividend payouts after it posted its eighth consecutive annual loss, which stemmed from large restructuring and conduct charges.

But the Stoxx 600 oil and gas sector moved up more than 3% as oil prices gained around 2%. Oil futures swung sharply higher Thursday after Venezuela’s oil minister announced plans to meet with representatives from Russia, Saudi Arabia and Qatar in mid-March.

Source : Marketwatch

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