Business

Tuesday 17 January 2017

European shares rebound boosted by commodities-related stocks

Published 11/03/2016 | 08:24

European shares
European shares

European shares bounced back in early trading on Friday after sharp declines in the previous session, with a recovery in metals and crude oil prices boosting commodities-related stocks.

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The pan-European FTSEurofirst 300 index was up 2pc by 8.10am after falling 1.8pc in the previous session. However, the index stayed on track for a weaker weekly close after gaining in the previous three straight weeks.

The STOXX Europe 600 Basic Resources index rose 2.5pc, the top sectoral gainer, after prices of major industrial metals rose sharply. Glencore, Anglo American and Rio Tinto rose 3 to 4pc.

The European oil and gas index also advanced 1.8pc, tracking higher crude oil prices.

Reuters

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