LONDON, April 5 European shares gained slightly
on Wednesday as higher oil prices and deals boosted energy
stocks, with investors cheering improved synergies from an oil
The pan-European STOXX 600 index was up 0.1 percent
by 0720 GMT.
Oil & gas stocks were the second best sectoral
gainers, up 1 percent, while basic resources gained 1.3
percent. Crude prices rose to a near one-month high on signs of
a gradual tightening in global oil inventories.
Oil services groups Wood Group and Amec Foster
Wheeler were the top European gainers, up 3 and 2.7
percent respectively, after Wood Group said it expected about 36
percent more cost savings from its deal to buy Amec for 2.2
billion pounds ($2.7 billion).
British miner BHP Billiton was also a top gainer, up
2.9 percent after it became the fourth miner to declare force
majeure on Australian coal mines disrupted by Cyclone Debbie,
pushing up coking coal futures.
Outdoor advertising company JCDecaux was among the
biggest fallers, down 3.6 percent after JP Morgan cut its shares
to 'neutral' from 'overweight', saying contract losses such as
the Velib Paris bicycles contract, and a slow recovery to
profitability for major contracts suggested limited earnings
Autos stocks were again the worst-performing sector,
down 0.5 percent.
Finnish utility Fortum and Swedish engineering
company Skanska were top fallers after going
(Reporting by Helen Reid, editing by Kit Rees)