European
stocks rose, buoyed by a rebound in energy companies, as investors
awaited the outcome of a Federal Reserve meeting for indications of the
trajectory of U.S. borrowing costs.
BP
Plc and Royal Dutch Shell Plc added 1.5 percent or more as oil rose
from a two-month low after industry data showed declines in U.S. fuel
inventories and crude stockpiles at the nation’s biggest storage hub.
Saipem SpA rallied 11 percent after Eni SpA agreed to sell a stake in
the company to Fondo Strategico Italiano SpA. Eni rose 2.2 percent.
The
Stoxx Europe 600 Index added 1.1 percent at the close of trading. All
19 industry groups rose, with oil-and-gas companies leading gains and
snapping a three-day decline. Europe’s benchmark measure has climbed 8.1
percent in October, rebounding from a quarterly rout and set for its
best monthly gain since 2009.
Source : Bloomberg
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