Tuesday 16 January 2018

European shares rise as energy and mining stocks climb

Traders talk in front of the German share price index DAX board at the stock exchange in Frankfurt, Germany
Traders talk in front of the German share price index DAX board at the stock exchange in Frankfurt, Germany

European stock markets rose on Tuesday, helped by stronger energy stocks which gained ground as oil prices surged on the possibility of output cuts.

Mining stocks also advanced, lifted by a rally in copper prices, while shares in Anglo American climbed more than 6pc after the firm's underlying earnings did not fall as much as some had feared.

The pan-European FTSEurofirst 300 index was up 0.7pc, building on a 6pc rise made over the last two sessions.

Shares in Vodafone slipped slightly after the British phone network operator agreed to combine operations in the Netherlands with Liberty Global, with Vodafone paying €1bn ($1.12 billion) in cash to Liberty.

However, shares in French telecoms group Orange rose 1.1pc after Orange returned to core profit growth a year earlier than planned. Orange added it was still in talks to buy Bouygues Telecom.

Reuters

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